CICC 2026 Outlook: Expected turning point for the chemical industry cycle.

CICC released its outlook for 2026, stating that the downturn in the petrochemical and chemical industry has been ongoing for about 3 and a half years. With the continuous decline in industry capital expenditures and the faster withdrawal of outdated overseas production capacity, the research report believes that industry capacity will enter a period of low growth, while the accelerated anti-inner-loop driven by industry self-discipline has also accelerated the profit recovery of related products. With the continued accumulation of favorable factors on the supply side and the rapid growth in demand in new energy and other fields, CICC predicts that the turning point of the chemical industry cycle is expected to arrive.