22 March 2013 10:50 [Source: ICIS news]
CHONGQING, China (ICIS)--Epoxy resin global market growth is expected to continue to follow the global GDP growth of about 3.5%, give and take 1%, as it did in the past, industry executives said on Friday.
Although the growth rates of downstream sectors such as the wind power, marine vessels and containers, automobile and electronics industry have reduced, overall total demand from these sectors is still increasing but at slower rates, said Mr Chueh Ho Ming, Epoxy Deputy General Manager of Nan Ya Electronic Materials (Kunshan).
He was speaking at the 10th Epoxy Resin and Raw Materials Forum being held in Chongqing on 21-22 March.
Taking a look at the marine vessels and containers industry, although production of new vessels and containers is expected to slow down, overhaul and repair works of older vessels will be there in which epoxy resin will still be needed, he said.
Danny Ng, Business Development Manager from Solvay Chemicals (Shanghai) also said in Mandarin: “Epoxy resin demand will grow in tandem with the growth in demand in the downstream coating, electronic and epoxy resin composite sectors.”
Solvay supplies feedstock epichlorohydrin (ECH) material to several epoxy resin makers.
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