Global and Vietnam olefin and aromatic market trends under the impact of Covid-19 pandemic

  • Dao Minh Phuong Vietnam Petroleum Institute
  • Nghiem Thi Ngoan Vietnam Petroleum Institute
  • Nguyen Thi Ngoc Vietnam Petroleum Institute
  • Pham Ba Nam Vietnam Petroleum Institute
Keywords: Olefins, aromatics, Covid-19, market


The global economy has witnessed a strong recession under the impact of the Covid-19 pandemic and could take 2 years to recover. The olefin and aromatic product market has fluctuated greatly as demand decreases sharply. The paper presents the results of market analysis of the demand, supply and prices of olefins (ethylene, propylene, and polymer) and aromatics (benzene, xylene, toluene-BTX) in the long term and short term in the world. On that basis, the paper proposes to PVN and the Government measures to promote the recovery of the domestic market and to adapt to the long-term trends


Wood Mackenzie, "Coronavirus and chemicals markets", 2020.

ICIS, "The chemical Industry’s response to a crisis while in crisis". [Online]. Available:

IHS Market, "The chemical pulse Covid-19 and oil turmoil - Report 1", 2020.

PwC, "Preparing the chemicals industry for 'the day after' the Covid-19 pandemic", 2020. [Online]. Available:

BCG, "Covid-19 impact on petrochemicals", 2020.

S&P Global, “Polyolefins trends in H1 2021: New Asia capacity, unclear demand", 2/2021. [Online]. Available:

Argus, "SE Asia braces for heavy 3Q petchem turnaround season", 2021. [Online]. Available:

IHS Market, "A broad stroke on chemicals in the covid-19 & low oil price environment", 2020.

Patrick Kirby, "Global olefins: 10 trends to watch as coronavirus reshapes the industry", 5/5/2020. [Online]. Available:

ICIS, “Supply and demand database". [Online]. Available:

Mordor Intelligence, "Benzene market - Growth, trends, Covid-19 impact, and forecasts (2021 - 2026)". [Online]. Available:

Wood Mackenzie, "Industry training Introduction to petrochemicals", 2020.

Wood Mackenzie, "Aromatics, benzene, styrene global weekly market overview”, 2021.

Wood Mackenzie, "Refining and Chemicals Focus", 2019.

Wood Mackenzie, "Petrochemical Markets in a Turbulent World", 2020.

Ashish Pujari, "Polyester value chain, 2020: Challenges galore”, IHS Market, 2020.

Wood Mackenzie, "Coronavirus webinar extract impact on petrochemicals demand", 2020.

PTT, "PTT performance conference call", 2020.

Wood Mackenzie, "How are chemicals companies responding to the coronavirus blow?", 2020.

Martin Menachery, “Borealis to discontinue $6.8bn world-scale polyethylene project in Kazakhstan”, 18/5/2020. [Online]. Available:

Thế Vũ, "Những xu hướng kinh tế trong tương lai sau đại dịch Covid-19", Tạp chí Tài chính, 2020.

Trung tâm thông tin công nghệ và thương mại - Bộ Công thương, "Bản tin thông tin thương mại", 2020.

How to Cite
Dao Minh, P., Nghiem Thi , N., Nguyen Thi, N., & Pham Ba, N. (2021). Global and Vietnam olefin and aromatic market trends under the impact of Covid-19 pandemic . Petrovietnam Journal, 7, 31 - 43.