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Petchem should focus on efficiency as growth slows
Oil and Gas News
|January 2025
Aggreko advises petrochemical firms to focus on improving efficiency and energy resilience to navigate slowing sector growth and address challenges such as rising energy costs and shifting market conditions
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WITH petrochemicals sector growth set to slow down over the course of the next decade, energy specialist Aggreko is encouraging refinery operators to target efficiency gains in order to remain competitive in the shifting market landscape.
A recent report from the Boston Consulting Group (BCG) has forecast that petrochemicals sector demand is set to grow by 3 per cent through to 2035, compared to the 3.3 per cent achieved from 2014 to 2024. Shifting supply and demand dynamics, alongside changes in market balance, have both been cited as major reasons for the projected slowdown in growth.
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