Insight
Chemicals demand in a 1.5 °C scenario
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Report summary
The world needs to reach net zero before 2050 to meet the goals of the Paris Agreement. This insight simulates the impact on the chemicals sector as a part of the energy transition phase which attempts to limit global warming to 1.5 degree Celsius by 2050. Fossil based polymer production is expected to reduce by 35% in the accelerated energy transition scenario by 2050 compared to the base case. The reduction stems from increased utilization of various polymer demand reduction mechanisms and recycling, which are expected to be heightened in this scenario compared to current levels.
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