Major chemical companies worldwide are shutting down aging and inefficient production facilities, leading to significant job losses. This wave of closures, primarily concentrated in Europe but also impacting the US, South Korea, and Japan, involves the permanent exit of substantial capacity for key products like ethylene, propylene, and plastics. The restructuring is driven by high operating costs, global overcapacity, and declining profit margins. These strategic adjustments aim to streamline operations and improve efficiency in response to evolving market dynamics.
Worldwide
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