If you haven't been paying attention, you may have missed some good news, at least for North American processors, during the past few weeks.
Resin companies are starting to invest in extra capacity in the region, or at least plan to. This development is important for the long-term health of the entire plastics sector.
Shintech Inc. was first, and we've already editorialized on its plans to build a massive PVC plant in Louisiana. Now Formosa Plastics Corp. USA is talking about expanding PVC capacity. And last week, DAK Americas Inc. and Chevron Phillips Chemical Co. LLC both announced expansion plans in North America.
The investments are significant and seem to go against the grain of chemical firms spending most of their capital-investment dollars in Asia. There's nothing wrong with investing in Asia. It's a large and growing market, but North America is nothing to sneeze at, and processors here need their suppliers help to remain globally competitive.
