World petchem products are expected to be in a slump due to lower demand in China plastic products as consumer products, such as toys, shopping bags, cables, car foams and packaging film demand are slowing. Analysts are expecting global plastics markets to be in a downturn trend lasting anywhere from 1 to 4 years.
The current situation in the US doesn't help either. United States is the major plastics consumption and currently in a recession bringing demand for consumer products down. This resulted in the world to loose the top two countries for plastics consumers.
However, a slight growth for polyethylene based products are expected to be maintained throughout this year until next year.
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