23 October 2013 17:30 [Source: ICIS news]
LONDON (ICIS)--European adipic acid (ADA) demand in 2014 is widely expected to increase because of macroeconomic recovery, particularly from the shoe sole sector, sources said on Wednesday.
"I can just reflect what my customers say, and for example in EPCA [the 47th annual European Petrochemicals Association meeting] customers [were] quite optimistic," an ADA producer said.
Several buyers and sellers forecast that consumption growth in 2014 will be around 2-3% compared with 2013.
"I think increases next year would be moderate, I'd go along with 2-3%, not more. I think we will see very moderate increases, in line with [the] wider market," an ADA buyer said.
Nevertheless, forecasts are provisional, and dependent on wider GDP growth. The majority of ADA end-uses are heavily linked to GDP.
"[In] 2014, depending on what the economy is going to do, we hope that we will find growth again, but not more than 2 or 3% plus," an ADA buyer said.
($1 = €0.73)
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