06 December 2010 17:07 [Source: ICIS news]
LONDON (ICIS)--World chemicals production growth fell to 0.5% in the third quarter from 1.8% in the previous quarter, ?xml:namespace>
The slowdown was fairly broad-based, it said in an industry briefing, but was more pronounced in the developed economies and largely pulled down by
The majority of sub-sectors were flat or down, it said, with strength in basic chemicals and man-made fibres. Paints output was down following a surge in the second quarter.
"Sluggish growth in H2 [the second half] will limit the rise in world output to 7.25% this year with developed economies up by 5.25% and emerging markets up by a lower than expected 10%," it said.
The forecast had been lowered from those made previously, reflecting an end to re-stocking and, particularly, increased economic nervousness, especially over the the eurozone economies.
"World growth might still post a healthy 5.75% in 2011 dropping below 5% by the end of the decade. Developed economies are projected to grow by 3% in 2011 and slip to 2.5%, with emerging markets up by over 9.5% initially sliding towards 7% by 2020," it added.
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|
Asian Chemical Connections