Boomers Jan11.pngThe blog is excited to learn that there should be a good attendance for its first New Normal training Workshop in Singapore. This is being held in association with ICIS, on 24 February.
The Workshop aims to provide a comprehensive understanding of the factors that will impact the petrochemical market over the next few years:
• What is the New Normal and how will it change the petrochemical landscape?
• What will it mean for key feedstock and end-user markets?
• What will be the key price drivers for the market?
The New Normal is being driven by the major demographic changes now underway in the Western world. The BabyBoomers born between 1946-70 led to massive gains in consumption, as they entered the 25 – 54 age group. This is when people typically marry, settle down and have children.
But now, as the chart shows, they are entering the 55+ age group, when people normally save more and spend less. This is already having profound effects on demand patterns in Asia. Exports to the West now need to be replaced by increased domestic consumption.
Please click here if you would like further details of the course.