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The Zacks Chemicals Plastics industry is riding on the back of strong industrial demand, driven by global economic expansion. The uptick in demand across major end-use industries such as automotive, tire and building & construction from the coronavirus-led slump augurs well for the industry.
Westlake Chemical Corporation WLK and Covestro AG COVTY are well placed to benefit from the strong demand dynamics. Self-help measures, including reduction of operating costs, are also helping these companies to offset the pandemic-driven headwinds. The shale boom, too, is driving investments in capacity expansion in the United States.
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