04 December 2012 10:09 [Source: ICIS news]
SINGAPORE (ICIS)--Global propylene (C3) demand is expected to grow at an annual rate of 4% in 2011-2015, in line with economic expansion, an industry consultant said on Tuesday.
While polypropylene (PP) is the main downstream for C3 consumption, Wonsoo Byun of energy consulting firm NEXANT said that another downstream sector – the acrylic acid market – is expected to show the strongest increase in demand for the monomer.
Byun was speaking at the ICIS Polyurethane Chain Conference, which runs from 4-5 December in Singapore.
Over the five-year period indicated, demand for downstream PP is projected to grow at an annual rate of 4.3%, he said.
In emerging economies, such as Brazil, Russia, India and China, demand for polyolefins is expected to grow at a faster rate compared with the consumption in the US and Europe, Byun said.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections