February’s plant shutdowns are causing a global plastics shortage.
Texas has thawed but the effects on the chemical industry from February’s freezing temperatures are not melting away. Anything but. According to an article from The Wall Street Journal, last month’s freeze, which caused massed blackouts and forced a shutdown of the state’s chemical plants, is disrupting chemical supply chains and triggering a global plastics shortage.
A month after the freezing temperatures hit Texas, many plants reportedly remain offline and it may be many more months before they are fully operational. According to the article, prices for chemical compounds including polyethylene, polypropylene and polyvinyl chloride, or PVC, are skyrocketing as supplies tighten. For consumers of everything from cars to home insulation, the aftermath of the frigid cold snap likely means product shortages, delays and increased costs.
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