GPCA ’10: India's toluene demand seen growing robustly at 7-8%

08 December 2010 02:26  [Source: ICIS news]

DUBAI (ICIS)--Toluene demand in India was expected to grow at a robust rate of 7-8% in the coming year, driven by strong economy and growth in infrastructure and pharmaceutical sectors, traders said late on Tuesday.

The current strong growth in the Indian economy would push infrastructure, which would support demand for solvents like paints, coatings and thinners, they added.

Toluene is widely used in India for pharmaceuticals, specialty chemicals and solvent applications.

India is a net importer of toluene from Singapore, South Korea, Iran and Europe, with the monthly imports hovering at about 10,000-12,000 tonnes.

Meanwhile in the Middle East, demand for toluene was expected to hit an average growth rate of about 3-5% in the coming year, driven mostly by the growth in construction sector, a key Middle East-based trader and distributor said.

In the Gulf Cooperation Council (GCC) region, toluene is used mostly for solvents applications, with the average monthly demand at about 3,000 tonnes.

For more information on toluene, visit ICIS chemical intelligence
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By: Mahua Chakravarty
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