Global chemicals industry needs net closure of about 7.5% of olefin capacity by 2030--Bain & Co report

BOSTON, Oct. 19, 2026 /PRNewswire/ -- The global chemicals industry will likely require the net closure of about 7.5% of global olefin production capacity by 2030, equivalent to 35 million metric tons, to return to normal operating rates, according to new analysis from Bain & Company. Despite record plant closures, chemical plants are projected to continue running below their historical utilization average through 2030, with demand growth alone insufficient to close the gap.