07 October 2013 19:56 [Source: ICIS news]
BERLIN (ICIS)--A European caprolactam (capro) producer on Monday predicted that margins will remain limited until there is consolidation in the market.
"Unless there's consolidation, I don't see a chance of a change in the next 20 years," the producer said on the sidelines of the 47th annual European Petrochemical Association (EPCA) meeting.
The producer added that it would require a single major player to exit the market to remove the structural oversupply.
"I think if one major player went out it would be tight again," the producer said.
This contradicted another capro producer, which earlier on the sidelines of EPCA predicted a global structural oversupply of 1m tonnes/year by mid-2015.
The meeting continues through Wednesday.
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