US '08 paint market to fall 9-10% - Rohm and Haas

24 July 2008 18:06  [Source: ICIS news]

HOUSTON (ICIS news)--The US paint market should fall by 9-10% when compared with 2007, a Rohm and Haas executive said on Thursday.

Rohm and Haas expects to match the overall market, said Raj Gupta, company CEO.

US paint sales have dropped as a result of the downturn in the nation's housing market.

For Europe, second-quarter volumes for Rohm and Haas rose due to growth in central and eastern Europe, said Pierre Brondeau, Rohm and Haas president. Western European volumes were flat.

Rohm and Haas expects European paint sales weaken further in response to the region's softening house market, Brondeau said. However, any European slowdown should not match the housing slump in North America.

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By: Al Greenwood
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