02 October 2011 14:13 [Source: ICIS news]
BERLIN (ICIS)--Demand for European acrylate esters in the fourth quarter will be lower than earlier in the year due to seasonal patterns as well as weakening confidence amid wider economic instability, a major buyer said on Sunday.
Speaking from the sidelines of the 45th annual European Petrochemical Association (EPCA) meeting in Berlin, the buyer was keen to stress that while it did not foresee a repeat of the downturn of 2008, demand will be moderate at best for the remainder of the year.
“Upcoming turnarounds won’t have any impact,” said the buyer. “Construction activity is always slower towards the end of the year, so in Q4 we will see a drop in demand.”
The buyer added that demand from the hygiene and personal care segments will remain healthy.
Acrylate ester prices in Europe had been rising steadily since the beginning of 2010 because of growing demand from emerging end-use markets and a spate of production shutdowns, but have moved down since July 2011 on improved availability as well as a weaker upstream propylene market.
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