Corrected: Acrylic acid mkt to begin recovery in 03 - Tecnon

13 August 2002 09:34  [Source: ICIS news]

LONDON (CNI)--In an article published in CNI on Friday (9 August), figures contained in an historical forecast for acrylic acid consumption were inadvertently confused with acrylates.

The forecast by Tecnon OrbiChem should have read that last year, ahead of US terrorist attacks, Tecnon was predicting a slightly higher average increase in global acrylic acid consumption of 3.9% a year from 2.3m tonne in 2000 to 3.4m tonne in 2010.

Due to an error in figures from Tecnon, a table showing global acrylic acid capacities mistated the year by which additional capacity from other companies would be increased. The additional capacity is due onstream by 2008, not 2006.

We apologise for these inaccuracies. A corrected version of the story follows in full.

LONDON (CNI)--A recovery in the global acrylic acid market is expected to begin next year following a slowdown in 2001 and 2002, according to Clive Galyer of UK-based consultants Tecnon OrbiChem.

Growth in acrylic acid consumption was hit by the aftermath of the September 2001 terrorist attacks in the US and the general downturn in the market, he told CNI on Friday.

However, a recovery is now in sight ann Tecnon OrbiChem is forecasting an annual increase in global acrylic acid consumption of 3.5% per year between 2003 and 2009.

Tecnon OrbiChem expects the proportion of acrylic acid used to produce bulk acrylate production to remain constant throughout the period, at just over 51%. Consumption for superabsorbent polymer (SAP) production will account for 32-33%.

Last year, ahead of the US terrorist attacks, Tecnon was predicting a slightly higher average increase in global acrylic acid consumption, of 3.9%/year from 2.3m tonne in 2000 to 3.4m tonne in 2010.

In its latest report,* the consultancy said world bulk acrylate consumption is expected to rise by 3.6%/year to nearly 3m tonne between 2003 and 2009. This year, consumption is estimated at almost 2.3m tonne. Growth will be higher in the developing regions than the developed regions, with China forecast to continue the strong expansion in consumption witnessed over the last five years.

Galyer noted that the introduction in November 2000 by China of antidumping duties on acrylate imports from Japan and the US has “shifted the substantial import requirement from Japan, and to some extent the US, largely to Southeast Asia”.

Butyl acrylate accounted for 59% of global bulk acrylates consumption in 1999 and is expected to account for 61% by 2009. Methyl acrylate accounted for 11.3% in 1999, Tecnon said.

Global crude acrylic acid capacity is expected to expand to 4.0m tonne/year by 2009 from 3.4m tonne this year, boosted by projects in Brazil, South Africa and China. Tecnon expects bulk acrylates capacity to increase to 3.6m tonne/year by 2009 from 3.0m in 2002, led by growth in China.

Global acrylic acid capacities in 2003 (thousand tonne/year)

Owner	Acrylic acid capacity in 2003	Forecast capacity increase
BASF	820	240 by 2006
Rohm & Haas	410
StoHaas Monomer	365
Nippon Shokubai/American Acryl	370
Celanese Chemicals	326
Atofina/American Acryl	300
Dow Chemical	190
Formosa Plastics	140
LG Chem	120
Mitsubishi Chemical	110	20 by 2004
Others	382	190 by 2008
Global total	3533	3983 by 2008

*The Database and world analysis of acrylic acid and its esters is available, on CD, from Tecnon OrbiChem: 12 Calico House, Plantation Wharf, York Place, London SW11 3TN, Tel +44 20 7924 3955, E-mail enquiries@orbichem.com.

By: Anna Jagger
+1 713 525 2653

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