Shortage intensified in the Russian plasticizers market in February

Perspective: Western sanctions cripple Russia's plastics industry

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The Russian plastics industry is facing the deepest crisis in its modern history, with shortages of key raw materials, finished products and crucial technology. Western

Based on ICIS’ Plasticizers forecast, prices are expected to fall in February as the market activity slows down during the Lunar New Year holiday. For 2-ethylhexanol (2-EH), import prices in

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Russia ramping up domestic plastics production

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The imposed Western sanctions led to serious turmoil in the Russian plastics market. In general, the cessation of polymer trade with countries that joined the sanctions

The resin market’s wild ride got even hairier last week. Supply shortages intensified, prices rose, and processors flocked to the spot market, scooping up every reasonable offer.

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Russia-Ukraine war impact on supply chains and inflation

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Supply chain issues have exacerbated price increases in industries with large increases in demand and shortages of key resources. 1. Supply chain problems will likely only resolve

The Russian invasion of Ukraine on February 24 kicked off historic policy actions and moves across global markets. The Russian ruble continues to reach all-time lows and the

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Plasticizer Market Analysis 2023: An Overview ResourceWise

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The softness of the construction market a significant PVC/plasticizers consumer has had a strong impact on global markets this year. The US plasticizers sector began 2023

The resin market continues to face ongoing delays and shortages as a result of the Covid-19 pandemic, a record hurricane season, and winter storm, Uri. Many resin lead

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Resin Supply and Pricing Volatility in the Polyolefin and Rigid

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The extreme cold weather the Gulf Coast of Texas experienced in February 2021 added to an already difficult situation, We may see some HDPE virgin resin reach the market in May, but

Market Overview. The global plasticizers market was valued at USD 17.56 billion in 2023.It is estimated to reach USD 29.69 billion by 2032, growing at a CAGR of 6.01% during the forecast period (2024–2032).The global plasticizers market is primarily driven by the surging demand for these additives from the construction industry, where it is extensively utilized in

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Why does Russia have a plastic shortage?
Travel is prohibited between cities, production lines have shut down, and group gathering spaces like malls are closed. 2 It all points to import/export restrictions on resins and lesser need for crude oil — foiling Russia’s ability to strategically rely on China, and contributing to the rising costs and turmoil of the plastics shortage.
Does Russia have a decline in demand for plastic products?
According to data of the Russian analyst agency Romir, the demand for plastic products in Russia has declined by 10-40 percent, depending on the product, compared with 2021. Russia's largest materials supplier, Sibur, agrees. "There is currently a decline in demand that varies across the industry," a Sibur executive said in an exclusive interview.
What happened to Russia's largest plastics supplier?
Russia’s largest materials supplier, Sibur, has seen the same drop. The Russian plastics industry is facing the deepest crisis in its modern history, as the military conflict with Ukraine has led to an almost complete suspension of imports of key raw materials, finished products and crucial technology.
How did Western sanctions affect Russia's plastics market?
The imposed Western sanctions led to serious turmoil in the Russian plastics market. In general, the cessation of polymer trade with countries that joined the sanctions against Russia cost the country's economy 0.5 percent of GDP.
What will Russia's plastics market look like in the next 5 years?
The biggest growth in plastics demand in the next five years will be in construction, automotive and packaging, which traditionally consume up to 70 percent of produced plastics in Russia. Analysts expect growth in those markets to exceed 40 percent by 2028.
Will Russia's plastic industry be affected by a suspension of imports?
According to the Russian Union of Plastic Processors — a public association for producers of finished plastic products — 95 percent of the industry's equipment is imported, much from Western countries. Analysts believe the suspension of imports may lead to catastrophic effects in the industry.