Peter Huntsman, CEO of Huntsman said that lockdowns and uncertainty continued to weigh on demand recovery, especially in the US and Europe. He said that demand recovery had been slower than expected due to the prolonged nature of these lockdowns.
According to him, demand from the aerospace and textiles segments has been improved marginally. The textiles and clothing sector was previously thought to be resilient, but in reality, they are badly affected, he noted.
Demand from China has begun improving but remained weak. Huntsman said that its export-oriented businesses in China saw a 60–70% drop. However, China’s domestic demand is on course to reach about 95% to 100% of the year-ago level.
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Published on June 18, 2020 5:48 PM (GMT+8)Last Updated on June 18, 2020 5:48 PM (GMT+8)
