APLA '10: Brazil's polymer demand to grow 13% in 2010
09 November 2010 14:02 [Source: ICIS news]
RIO DE JANEIRO (ICIS)--?xml:namespace>Brazil’s polymer demand is expected to grow by nearly twice as much as the economy in 2010, jumping by around 13% compared with 2009, a market source said on Tuesday.
Demand for polyethylene (PE) is slightly stronger than polypropylene (PP) but both grades were showing tremendous strength, the source said on the sidelines of the 30th Latin American Petrochemical Association (APLA) annual meeting in Rio de Janeiro, Brazil.
Brazil’s GDP is expected to grow by 7.54% in 2010, among the fastest in Latin America, according to the International Monetary Fund (IMF).
The source said that Brazil's strong demand for resins meant that more were being imported, adding that products sourced in the Middle East were increasing their market share in the country.
“It is usually done via traders,” the source said.
PE from the Middle East accounted for 2% of Brazil’s PE imports in 2008, but that figure grew to 12% in 2010, a consultant said during the conference.
“The figure will probably grow to 15% in 2011,” the consultant added.
The 2010 APLA conference opened on Sunday and ends on Tuesday.
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