Rising overcapacity, AI and protectionism may drive a swift transition in chemical production and markets in the next 5-10 years.

-          Commodity chemicals may be produced mainly by large state-owned enterprises

-          Smaller, privately-owned companies may switch to high value composites, specialties, low-carbon chemicals

-          High-cost regions such as Europe could protect their essential commodity chemicals production

-          Protective measures need to be taken in next 3-6 months to rescue EU commodity chemicals

-          A lot more commodity capacity closures required to keep operating rates healthy

-          AI will have a massive impact on chemical companies and markets

-          AI will enable us to navigate and analyse increasingly chaotic markets

-          AI could drive job losses, disrupt economies

-          Climate change will alter seasonal and geographic demand patterns

-          Electronics, property, auto markets are depressed

-          Q2 chemicals results are very poor in all regions

In this ICIS Think Tank podcast, Will Beacham interviews John Richardson from the ICIS market development team, ICIS Insight Editor Tom Brown and Paul Hodges, chairman of New Normal Consulting.