06 October 2013 15:22 [Source: ICIS news]
BERLIN (ICIS)--A nylon producer is predicting that manufacturers will increasingly focus on specialty rather than commodity grades of nylon, it said on Sunday.
Nylon demand has been weak throughout 2013 because of poor macroeconomic conditions. Nevertheless, end-uses such as premium automotives which use a higher percentage of specialty products, have proved resistant to the general economic downturn. This is because of upward social mobility in developing countries such as Asia.
“[The] premium car industry is doing well. I think Europe is well positioned. They’re looking for more speciality [grades],” the producer said on the sidelines of the 47th European Petrochemical Association (EPCA) meeting.
The producer added that a move toward specialty products would also relieve competitive pressure from other lower priced plastics, and prevent substitution of nylon for other materials.
“Specialty [grades] fight the competition between the plastics themselves,” the producer said.
Long-term growth for engineering plastics is strong because of plastic parts increasingly replacing metal in automotives to lightweight cars and reduce carbon emissions.
The annual EPCA meeting runs from 5-9 October.
($1 = €0.74)
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