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May 21, 2020

Covid-19 shock decimates demand growth for major petrochemicals in 2020

By Agne Suipyte

The global Covid-19 pandemic originated in the Chinese city of Wuhan in December 2019. It has spread at an alarming rate across the world, surpassing 4.3 million cases worldwide and causing major disruption to the global economy.

The Covid-19 transmission turned Europe to the epicentre of the pandemic by mid-March, with Spain, the UK and Italy becoming the most-affected countries in the region. Later, the US leapfrogged, surpassing all countries and has been the worst-affected country in the world, accounting for approximately one-third of the total Covid-19 cases worldwide.

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