23 October 2013 17:39 [Source: ICIS news]
LONDON (ICIS)--European adipic acid (ADA) demand in 2013 is expected to be broadly stable with 2012 levels, sources said on Wednesday.
"This year against last year? ...consumption for us is in line, absolutely in line," an ADA buyer said.
Nevertheless, expectations ranged from a slight fall of up to 2% year-on-year, to an increase of 3% year-on-year.
Demand has been weak throughout 2013 in some end-use areas, such as fibre. Southern European demand is not as strong as in northern Europe, as southern Europe has been more heavily affected by the eurozone debt crisis than northern Europe.
Demand forecasts for 2013 are dependent on end-use sectors and geography.
"We are maybe 2-3% below last year's volumes - [which is] what we expect for this year. Spain has suffered a little bit, the people are saving their money. It was due to southern Europe," one producer said.
($1 = €0.73)
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