US housing market may bottom out next year - RPM

21 July 2008 17:46  [Source: ICIS news]

HOUSTON (ICIS news)--The US housing market may bottom out in the spring of 2009, US coatings and adhesives producer RPM said on Monday in a conference call following its fourth-quarter results.

The housing industry is a key downstream consuming sector for chemicals and chemicals-based products such as roofing materials, adhesives, insulation, siding, paints and coatings, synthetic materials, polyvinyl chloride (PVC) pipes and a broad range of other construction materials.

RPM's residential products are used in small repairs and touch-ups, such as weatherisation.

Residential construction makes up 6% of RPM 's sales, according to Bank of America. Non-residential construction makes up 55%.

RPM's non-residential products continue to experience strong demand from oil and gas, power generation and other industrial sectors, Sullivan said.

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By: Al Greenwood
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