The historical period is anticipated to see a limit on the growth of the petrochemicals market due to reduced free trade. Many developed and developing economies are thinking about limiting free trade in order to strengthen their regional economies. Increased trade restrictions between the UK and other European nations are likely as a result of Brexit.
With intricate supply chains involved in cross-border trade both inside the EU and across the external European Union border, the petrochemical companies, their suppliers, and customers are a part of highly integrated European and global industry value chains. Additionally, it is anticipated that the US government will take a more protectionist stance, which may include renegotiating the North American Free Trade Agreement (NAFTA).
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