11 October 2013 17:40 [Source: ICIS news]
LONDON (ICIS)--While participants in the European butyl acetate market agree conditions are more balanced following maintenance upstream, views on demand differed on Friday.
Producers speak of healthy demand, while distributors take the opposite view.
“We're not doing much butac business at the moment,” one distributor said. “Demand has been quite slow for a long period.”
A second distributor said: “It's a general problem. Demand for butac has declined in the last two years.”
Both spoke of a growing preference for water soluble solvents that do not contain butac.
A producer said that, while there has been a downturn in demand since early last year, business has now stabilised.
“General demand for butac is down 15% on average since the beginning of 2012,” the source said. “But it’s now stable compared to 2012, it's not continued to go down. Demand is there, it’s generally quite good.”
A Russian producer that temporarily withdrew from the northwest European market during the summer lull now sees demand as very healthy.
“Butac demand has gone up,” the source said. “Prices have increased. We’re enthusiastic about 2014, it looks like demand will grow. There’s huge demand.”
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