06 October 2013 09:03 [Source: ICIS news]
BERLIN (ICIS)--An acrylates producer expects to see modest growth for the sector in 2014, with demand for acrylic acid (AA) to outperform that of acrylate esters, they said on Saturday.
Speaking on the sidelines of the 47th annual European Petrochemical Association (EPCA) meeting in Berlin, Alessandro Moraes, acrylates global business director at Dow said: “Globally, we expect acrylate esters [demand] to grow by 2.5-3%, and AA to grow by 6%.”
Moraes estimated growth in Europe in 2014 would be up by 3-4% for AA, while the acrylate esters market is likely to remain flat or improve by 1%.
“The drivers for AA demand are more related to the consumable goods sector. During a crisis, people are postponing the new house, or delaying the renovations. AA continues to grow despite the crisis.”
Moraes said high unemployment rates in most of Europe are resulting in a flat outlook for esters next year.
Regions such as Asia, India and Africa, however, continue to see significant volume growth, he added.
This year, demand for AA and acrylate esters in Europe has largely been in line with that seen in 2012.
“We see the market as a little bit better for 2014,” Moraes said.
AA is used in water treatment and in the manufacture of super absorbent polymer (SAP), which is used to make diapers.
Acrylate esters are used in coatings, adhesives and textiles.
The annual EPCA meeting runs from 5-9 October.
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