07 October 2012 15:05 [Source: ICIS news]
BUDAPEST (ICIS)--The European melamine market is expected to remain flat in 2013, a buyer said on Sunday.
Speaking on the sidelines of the 46th annual European Petrochemical Association (EPCA) meeting, the buyer said melamine demand next year would stay on the same level, adding that it did not expect any notable increase or decrease in European consumption.
The market has seen reduced levels of demand since the second quarter of 2011, as weakened macroeconomic conditions have dampened buying confidence.
Demand from the construction sector has been particularly slow. This has resulted in reduced sales for the wood-based panel industry and for glue producers alike, with a few businesses going bankrupt, and some plants closing.
The buyer added, however, that if the economy picks up, the melamine market in Europe would recover quickly.
The annual EPCA meeting runs from 6-10 October.
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