Template - EPCA press coverage
EPCA says this year presents a unique set of challenges, with the trade war, Brexit and highoil prices having immediate impact, plus longer-term trends such as the circular economy rumbling on
European petrochemicals face several chal lenges amid an increasingly 1mcertain geo political outlook but the real, long-term test for the ind ustry will be sustainability and how to become participants of a true circu lar economy, the president of tlrn Eurnpean
Petrochemical Association (EPCA) said on Montlay.
Marc Schuller, who is also a board member at French chemical major Arkema, added that the paramount feel ing among petrochemical players in Europe is how a mu11ber of problems which could greatly impac t the in dustry remain unresolved. Among others, he men tioned tlrn UK's exit from tlrn EU (Brexit), tlrn trade war between tlrn US and China, rising cmde oil prices that could affect petrochemicals margins, and the re imposition of sanctions by the US against Iran.
"Tlrnru are a mm1ber of areas of Lmcertainty withou t any clear answer, and it's a long list. Frankly speaking, I haven't met anybody with a clear answer, and tllis is some tlling very specific [to tllis year's EPCA meeting] and, at the same time, we have the increasing pressure conling from sustaina bility issues," said Schuller. "The mix of the two rnakes it qLLite interest:ing in terms of challenges ."
In terms of sho rt-term issues, Schuller said that while tlrn European petrochemicals indu stry and tlrn wider stock.m arkets had been "qLLit e lucky" this year, they had remained in a positive mood, ignoring the "threat" posed by Brexit and the trade war. "I don't think this optirnism can contin ue forever without the certainty that those two issues can be resolved," said Schuller.
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