04 January 2013 16:41 [Source: ICIS news]
LONDON (ICIS)--The value of Poland's construction chemicals market will slide 6% year on year in 2013 to approximately zlotych (Zl) 3.5bn (€1.1bn, $0.9bn) with new housing construction levels on the wane, a market research company said on Friday.
The weakening economic outlook in Poland would weaken the country's house-building segment, which accounts for the domestic consumption of around three-quarters of construction chemicals, said market research firm PMR.
2013 also lacks any exceptional factors — such as the stadium and infrastructure construction that Poland required prior to the UEFA Euro 2012 European Football Championship, which it jointly hosted with Ukraine — that would boost construction chemicals usage, it added.
Despite the one-off shot in the arm that the football championship offered the Polish construction industry, another market research firm, IBP Research, has calculated that 2012 saw a 4.2% year on year decline in the value of Poland's construction chemicals market to Zl 3.7bn.
The market's all-time annual peak of Zl 4.3bn came in 2008, it added.
Poland is the only country in central and eastern Europe not to have experienced a recession since the onset of the global financial crisis.
However, it is now facing weakening economic growth.
Special measures, such as national energy and infrastructure projects that would be financed with capital raised by selling off state assets — including a controlling share in chemical group Ciech — are being prepared by the government.
($1 = €0.77, $1 = Zl 3.13, €1 = Zl 4.09)
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