30 March 2010 07:04 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS news)--Demand for methanol in the European market is expected to increase in the coming weeks as the construction industry picks up following an extremely cold winter, a producer source said on Monday.
“We are confident that April should see a pull from the construction sector…The winter has been very severe which has slowed the market down,” said the source on the sidelines of the 2010 International Petrochemical Conference (IPC).
While it was normal to see a seasonal pick-up at this time of year, it would likely be more exaggerated as the construction sector tried to make up for lost business during the extreme winter months, the source added.
Among the methanol markets, the formaldehyde sector has had the most reduced offtake in the first quarter but this may have just been caused by bad weather since the sector was performing reasonably well towards the end of 2009, the producer said.
Applications not related to the construction sector were performing well, according to producers and consumers.
Hosted by the National Petrochemical & Refiners Association (NPRA), the petrochemical conference continues through Tuesday.
Visit ICIS at the NPRA International Petrochemical Conference on Sunday
Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|