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Oversupply, uncertainty, and shifting global forces are reshaping the chemical industry in unprecedented ways. Dewey Johnson, Senior Vice President of Dow Jones and global head of Chemical Market Analytics, joins host Victoria Meyer to dissect what’s driving the deepest and longest industry downcycle on record—from China’s march toward chemical self-sufficiency to the impact of sustainability targets and supply chain risk. Dewey shares his perspective on the global landscape, the interplay of political, economic, and environmental pressures, and why market participants are facing tough decisions about assets, investment, and strategy.
Victoria and Dewey also explore how companies are navigating regional differences, the growing importance of AI, and why the next five years could bring more M&A, shutdowns, and portfolio reshaping. With insight into the evolving role of Chemical Market Analytics under Dow Jones, this conversation offers chemical industry professionals a candid look at the trends and disruptions shaping the market today—and practical considerations for staying resilient and competitive into the future.
Victoria and Dewey discuss the following topics:
- Discover the forces pushing chemical markets into a deep, global downturn.
- Learn how geopolitical shifts are rewriting the rules of industry competition.
- Uncover China’s oversized impact on worldwide chemical supply and trade.
- See how innovation and strategic moves are helping companies stay resilient.
- Explore how data, analytics, and AI are guiding smarter decisions in uncertain times.
Killer Quote: “This is the longest and deepest down cycle ethylene has ever experienced, ever.“ — Dewey Johnson
Watch This Episode with Dewey Johnson Here:
Surviving the Long Downturn: Dewey Johnson of Chemical Market Analytics on Chemicals, Strategy, and Change
The chemical industry is no stranger to volatility. Recent years, however, have brought a confluence of complex challenges—overcapacity, shifting global demand, evolving sustainability mandates, and disruptive global events. On a recent episode of The Chemical Show, host Victoria Meyer sat down with Dewey Johnson, Senior Vice President at Dow Jones and Global Head of Chemical Market Analytics, to break down the forces shaping today’s markets and what business leaders need to focus on for the future.
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A Career Built on Quantitative Insight
Dewey Johnson’s journey from process engineer to chemical industry strategist is a story that resonates with many professionals in the field. Starting his career at Eastman Chemical, Dewey moved through technical and commercial roles before finding his passion in data-driven market modeling. He honed his expertise in quantitative analysis and dynamic modeling, collaborating with academic leaders and applying rigorous methods to real-world industry issues.
He describes the move into analytics and forecasting as a blend of science, math, and strategic thinking—skills that now underpin the work of Chemical Market Analytics (CMA), the firm he leads under the Dow Jones umbrella.
Decoding Chemical Market Analytics: More Than Just Numbers
CMA isn’t just about data. As Dewey puts it, their mission is to uncover the “causality of behavior” in the market. They provide both price discovery (as a Price Reporting Agency) and forward-looking market analysis. “Clients get price assessments, the reasoning behind those prices, and forecasts in a single report,” Dewey explains.
The team brings a commercial mindset, with most senior leaders having held roles in industry. That background ensures a practical, customer-focused approach, especially during challenging times.
Overcapacity, Demand Shifts, and China’s Pivotal Role
A core part of the episode focuses on today’s unique market cycle. Dewey points out that the global ethylene market is experiencing its longest and deepest downcycle ever. The reasons? China’s rapid build toward self-sufficiency, a demand slowdown (especially in real estate and infrastructure), and a flood of new capacity that continues to come online—even as demand profiles shift downward.
With China’s demand suppressed and exports rising due to overcapacity, the rest of the world feels the pressure. Dewey also highlights a key wildcard: as China accelerates vehicle electrification, its refining sector could be directed toward more petrochemical feedstock production, adding even more supply to an already stressed global market.
The Regulatory and Sustainability Layer
Regulation and sustainability are ever-present themes. Dewey notes that China has incentives to build aggressively until its 2030 emissions baseline, encouraging even more capacity before future reductions are measured. At the same time, sustainability sits high on C-suite agendas worldwide—even as the U.S., EU, and Asian regions pursue it on different timelines.
Trade, Geopolitics, and the Challenge of Risk Management
Globalization is under strain. Dewey sees more regions responding to risk—tariffs, geopolitical events, weather disruptions—by rethinking supply chains and emphasizing security alongside cost. The traditional model of building for global exports is giving way to more regionally-aware, risk-managed strategies.
As assets shut down across Europe and North America (with fewer closures so far in Asia), companies are being forced to rationalize portfolios and focus on core strengths. Dewey is candid: “It’s time to be decisive. It’s not going to get better in the near term.” M&A, partnerships, restructuring, and innovation will all be essential to weathering the chronic oversupply expected to persist through the decade.
AI—The Next Disruptor
No conversation about the future would be complete without discussing AI. Dewey admits the chemical industry is a laggard in adopting AI, but that’s changing fast. From product development to staffing, AI is starting to reshape business processes and decision-making. His advice? Experiment with AI tools, encourage better data sharing, and ask new questions—they’re already making a difference at Dow Jones and CMA.
Looking Ahead: Leadership and Adaptation
For leaders in chemicals, Dewey’s message is clear: Balance short-term survival with long-term strategy. Stay nimble, focus on efficiencies, look for collaboration opportunities, and leverage data and technology for deeper insight. And above all, prepare for a market cycle where disruption, not stability, is the new normal.
To dive deeper into this conversation and get actionable insights from Dewey Johnson and other industry leaders, listen to the full episode of The Chemical Show.
About Dewey Johnson:
Dewey is Senior Vice President with Dow Jones and Global Lead for the Chemicals practice within Chemical Market Analytics by OPIS, a Dow Jones Company.
Dewey leads a team of 250+ subject matter experts with deep knowledge and experience within the chemical sector globally. Chemical Market Analytics offers unmatched global coverage of the Base Chemicals space covering almost 350+ chemistries through subscription services and consulting (bespoke research) offerings to our clients. The CMA practice presently covers Energy & Feedstocks, Olefins & Derivatives, Aromatics & Fibers, Inorganics (chloralkali, vinyls and soda ash), Plastics & Polymers, Syngas (methanol, acetyls and ammonia) chemicals, Sustainable chemistries (carbon, hydrogen, various chemicals) and plans to extend into newer areas.
Dewey has two master’s degrees in environmental engineering & business management respectively. He has enjoyed a distinguished career with Eastman Chemical Company across multiple roles and functions for one and a half decades. In 2009, he joined Chemical Market Associates Incorporated (CMAI) and has been in the chemical market intelligence and research space ever since. From the acquisition of CMAI by the erstwhile IHS Markit to the present acquisition by Dow Jones, Dewey has been in senior leadership positions within the organization and has a deep understanding of the business.
Dewey has worked extensively with chemical industry stakeholders across Asia, the Middle East, Europe, and the Americas, covering industry leadership, the financial sector, and policymakers. Dewey has led multiple engagements with chemical industry clients globally in strategy development and execution, analysis of chemicals markets and business portfolios, and due diligence analysis in the M&A space.
Dewey is a frequent lecturer at MIT Sloan School of Management, UVA Darden School of Management and SUNY at Albany School of Public Policy. He is based out in Houston, Texas, United States of America.