Westlake Growth & Investment Strategy
Performance & Essential Materials for Everyday Life
Product
•
Demand Opportunities
PVC is an integral product for a significant number of
housing and construction materials that are short in
supply and high in demand
PEM Outperformance vs. Peers
2021 EBITDA Margin
W
Market
Position
40%
30%
#2 Global PVC
•
PVC
PVC is a superior product over lead, iron and concrete
pipe driving material substitution
#2 Global Specialty PVC
20%
Chemical
Peers
10%
0%
PEM
Low and
Linear-Low
Density
Polyethylene
Epoxy
Chlor-Alkali
37
•
Growth in consumer demand for products such as
premium vinyl flooring and artificial leather for specialty
PVC
Population growth and urbanization driving packaging
demand
Light weighting packaging increasing demand for
performance materials
Macro trends driving demand for essential materials in
wind energy, light weighting, coatings, adhesives and
electrification expected to grow faster than global GDP
Robust demand for chlorine supporting global
PVC demand
Strong demand for caustic driven by industrial and
manufacturing demand
Sources: IHS Markit, Bloomberg, Chemical peers includes: EMN, HUN, OLN, LYB, DOW
#2 N.A. Autoclave Polyethylene
#2 Specialty Co-Polymer Polyethylene
#3 N.A. Low Density Polyethylene
15%
2021 ROCE
#1 Specialty for Wind Energy
#2 Specialty for European Aerospace
#2 Specialty for N.A. Automotive
#2 N.A. & European Liquid Epoxy Resin
#1 Global Chlorovinyls
#2 Global Chlor-Alkali
10%
5%
0%
Chemical
Peers
Total
Company
WestlakeView entire presentation