Global Phenolics market overview
2020 has seen the world face a new and unprecedented challenge in the form of the global COVID-19 pandemic. It has brought increased disruption to an already unstable crude oil and has created a fall in demand through petrochemical value chains that has not been witnessed for decades. The global phenolics sector has suffered during this period, with producers and consumers through the chain in all regions, being forced to cope and react to a fast-changing world. New opportunities and markets have also emerged, providing chances for the sector to adapt and find new sources of growth. And while all this occurs, structural and political changes to the phenolics sector that were apparent long before COVID-19 arrived, continue to cast a wider influence on regional and global markets.