14 September 2011 18:55 [Source: ICIS news]
HOUSTON (ICIS)--The decline of the US housing market has weakened demand for formaldehyde, an executive from Momentive Specialty Chemicals said on Wednesday.
The lack of demand for formaldehyde, which is a key derivative of methanol, has prompted further consolidation of North American formaldehyde assets, said Dale Plante, the president of Momentive’s forest products division, at the 9th annual Methanol Forum in Houston, sponsored by Jim Jordan & Associates.
While a weak housing market dampens formaldehyde demand, Plante said overzealous regulation is the top threat to the industry.
Formaldehyde was recently included on the 12th Report on Carcinogens as a “known” carcinogen, even though the National Academy of Sciences concluded that claims of formaldehyde causing leukaemia were unsupported, Plante added.
The Methanol Forum ends on Thursday.
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