New Delhi, India (PressExposure) January 09, 2009 -- Economically, 2008 was the most chaotic year after few decades of economic satisfaction in the global memory bank in terms of huge financial fluctuation and extreme economic depression across the world. The earliest period of the year began with nationalizing the Northern Rock, which soon turned out to be the biggest financial scams in the world. It literally paved the way to tremendous economic crisis. After the downfall of Lehman Brothers and Merrill Lynch, many financial firms seemed to be in a hurry to follow the trend. The economic depression has severely affected the world and even the countries like China and India are trying hard to regulate their economy. Find Plastic People, Companies, Machines, Information and Database Now at [http://marketplace.plastopedia.com]
The polymer industry canât stand indifferent to the ups and downs of global oil market.
The surprising fluctuation in polymer feedstock prices resulted into instability as well as vast price inequality of all polymers like PVC, PE and PS. Sudden uncertainty of polymer production and demand has made it difficult to predict the future price of oil in 2009 because the price of polymers depends on oil price. However, it has been estimated that price will be most probably between US$50- US$100 per barrel. Worldwide Polymers growth is negative comparative to 2007; though, its commendably higher in Asia than other regions due to government interference and local demands.
Indian polymer industry has become a victim of recent recession and witnessed the negative growth throughout the 2008. Though, the government has tried to maintain the stability between growth as well as price rises. It is predicted that the journey of Olefin market in Asia would not in profitable because of the oversupplied downstream market. Since the suppliers are not getting enough materials from producers quite naturally, it is going to be very tough time for buyers who have to create pressure on both suppliers as well as buyers to produce more.
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