After a lack of investment in U.S. petrochemical production for about a decade, Chevron Phillips Chemical is studying the potential of a new ethylene cracker, while Ineos is considering an ethylene oxide facility. U.S. demand could support both crackers and volume expansion of other facilities, according to Chemical Market Associates. "The global petrochemical industry, in the next two-to-three years, should enjoy the sweet spot" created by a down cycle that started last decade, writes chemical analyst Joseph Chang.

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