24 June 2011 04:56 [Source: ICIS news]
SINGAPORE (ICIS)--The consumption of polyvinyl chloride (PVC) in the ?xml:namespace>
PVC consumption in the US is forecasted to surge from 3.93m tonnes in 2010 to 6.72m tonnes in 2015 and will continue to grow to 9.24m tonnes in 2025, said Fred Peterson, chairman of US-based Probe Economics.
He was speaking at the sidelines of The 15th World Chlor-alkali Conference in
The recovery of the
In addition, the recovery will absorb the inventory build-up of PVC caused by the slump in the
“We are not heading for a double dip, but the economy is expected to be slower this year,” Peterson said.
He added that it will take around three to four years for the supply overhang in the domestic housing market to be absorbed.
“It will get worse in terms of [house] pricing… Prices will be depressed more, but the levels of housing starts we have now are quite stable,” Peterson added.
The overall yearly PVC production capacity in the
In addition, the country’s capacity utilisation of PVC will increase from 78% in 2010 to an estimated 91% in 2025, supported by a higher domestic consumption of the material, he said.
However, exports of PVC from the
Major PVC producers in the
The prices have dropped by more than $100/tonne since early June.
($1 = €0.70)
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