APLA '10: US, local demand to drive LatAm chem growth in '11

07 November 2010 17:37  [Source: ICIS news]

RIO DE JANEIRO (ICIS)--Latin American chemicals demand is expected to increase strongly in 2011, helped by consumer optimism and growth in the US, a consultant said on Sunday.

Demand for chemicals and polymers is forecast to grow by more than one percentage point above GDP, and in some countries by two percentage points, said Raul Arias, senior consultant and manager for Latin America at US-based Nexant.

Arias talked to ICIS on the sidelines of the Latin American Petrochemical Association (APLA) annual meeting.

“I sense that everyone is optimistic about next year,” he said.

The northern part of Latin America, and Mexico in particular, is expected to benefit from improving economic conditions in the US, Arias said. The US recovery “will have a strong impact on Mexico”, he said.

Consumer optimism, and the resurgence of housing programmes in some countries, are also helping to fuel demand, Arias said. Brazil, in particular, is benefiting from a pick-up in automotive sales, he added.

This year, chemicals demand is expected to increase in most Latin American countries, according to Nexant. “Most plastics and chemicals markets will grow at least in line with GDP,” Arias said.

Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy
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By: Anna Jagger
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