20 October 2009 18:00 [Source: ICIS news]
BERLIN (ICIS news)--The US and European oleochemical industry would experience growth in the long term but Asia has been adapting well to the current trading conditions, according to a speaker at an industry conference on Tuesday.
“The oleochemical industry has maintained its growth, especially in the Asian market, in spite of the economic crisis,” said Rahul Kale, head of biofuels and oleochemicals at Singapore's Wilmar Oleo.
Kale was speaking at the ICIS World Oleochemicals conference in ?xml:namespace>
The general biodiesel industry was growing while other oleochemical markets remained stable during these difficult times, Kale added.
However, Eddy Feijen, marketing and sales director at Oleon, said that players in the industry would need to increase the diversity of applications for oleochemicals in order for the sector to be profitable.
“The oversupply of glycerine has pulled down prices and means we won’t see the high numbers again unless we can find another outlet for it,” Feijen said.To discuss issues facing the chemical industry visit ICIS connect
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