Petchem industry is feeling the pinch as industrial analysts are worrying on overcapacities including Bayer CEO in the recent interview. The financial crisis has turned the chemical and plastics industry into a huge overcapacities at least for 2009 and 2010 petrochemical outlook.
The mostly hit industry is plastics and polymers business used in the auto industry which is not building a huge industry overcapacities and inventories. Bayer CEO also predicted that growth in Bayer's pharmaceuticals and crop chemicals businesses to be much affected in 2009.
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