How is global ethylbenzene supply rationalizing amid European plant closures?

How is global ethylbenzene supply rationalizing amid European plant closures?
Europe is undergoing a severe capacity shakeout that directly affects ethylbenzene and its derivatives. Between 2023 and 2024, roughly 11 million tonnes per year of European chemical capacity was permanently shut, with aromatics accounting for 41% of closures, including ethylbenzene, cumene and styrene units. Olefins followed at 26%, hitting ethylene and propylene crackers. LyondellBasell closed a polypropylene line in Italy, SABIC shuttered its Olefins 3 cracker in the Netherlands, and ExxonMobil exited major chemical operations in France. Southeast Asia has also seen nearly 3 million tonnes of polypropylene capacity idled. These closures reduce global ethylbenzene supply and could open export opportunities for Chinese producers, though they also reflect weak margins that may pressure domestic pricing.