HOUSTON — While chemical companies have been helping government and health authorities fight the COVID-19 pandemic by providing a strong supply of critical care supplies, demand and prices for critical materials, such as polyethylene and polypropylene, have slumped as automotive, construction, and consumer markets have weakened, according to a report released by Deloitte.
In a new report, Deloitte’s Midyear 2020 Chemical Industry Outlook, predicts U.S. chemical industry revenues may decline as much as 14-15% year-over-year in 2020.