The 2026 outlook of CICC points out that the petrochemical and chemical industry has undergone a downturn cycle of approximately three and a half years. Currently, capital expenditures in the industry continue to decline, and overseas outdated production capacities are accelerating their exit, leading the industry into a low-growth phase of production capacity. Anti-intense-competition measures centered on industry self-discipline are driving the restoration of product profitability. Coupled with the rapid growth in demand in areas such as new energy, it is anticipated that the turning point of the industry cycle is about to arrive.
