25 October 2012 17:19 [Source: ICIS news]
LONDON (ICIS)--The value of Poland's construction chemicals market will slide 4.2% year on year to zlotych 3.7bn ($1.2bn, €889m) in 2012, a market research and consulting firm forecast on Thursday.
The previous sturdy annual growth of the Polish construction chemicals market, which in 2002 was only worth Zl 2.4bn in sales revenues, has been halted by a construction slowdown that emerged in the wake of the 2007/2008 global financial crisis, Krakow-based IBP Research added.
Since the market reached its all-time annual peak of Zl 4.27bn in 2008, it has gradually declined, with sales revenues of Zl 3.8bn recorded for both 2010 and 2011, IBP Research said.
The value of the market was to a degree propped up by investments in infrastructure that Poland required for the hosting of the UEFA Euro 2012 European Football Championship, which it shared with Ukraine, it added.
Poland's industrial production declined 5.2% year on year in September, with ministers saying the figure demonstrated that the country must step up its efforts to remain the only central and eastern European country not to have entered recession following the outbreak of the financial crisis.
($1 = Zl 3.20, €1 = Zl 4.16)
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