07 October 2013 10:55 [Source: ICIS news]
BERLIN (ICIS)--Household insulation as an end-use for petrochemicals has grown significantly in the past five years and remains a growth area, a European adipic acid (ADA) producer said on Monday.?xml:namespace>
Although the construction industry has been performing badly since the global economic downturn of 2008, the amount of insulation being used in houses is increasing.
“Compared with five years ago, half as many houses [are being built] but there is three times as much insulation,” the producer said speaking on the sidelines of the 47th annual European Petrochemical Association (EPCA) meeting in Berlin, Germany.
The producer added that growth in the insulation sector will increase as the construction industry recovers.
“If it’s increasing on a low level of construction, it will pick-up in the future,” the producer said.
The producer went on to caution that, although the end-use is increasing, it remains a small percentage of the overall end-use portfolio of petrochemical markets.
“We’re not talking 90% of the [end-use] market, and of course there’s a lot of competition in that field,” the producer said.
The EPCA meeting runs from 5-9 October.
($1 = €0.74)
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