25 October 2013 16:29 [Source: ICIS news]
LONDON (ICIS)--Global acrylonitrile (ACN) consumption in 2014 is expected to grow by 2% compared with 2013, depending on the performance of acrylonitrile-butadiene-styrene (ABS), sources said on Friday.
ABS growth in China is seen as the key driver for growth in 2014. This will in turn depend on macroeconomic conditions.
“2014 - 2% growth could be correct. ABS - how that will be doing is the main issue,” a European producer said.
ABS growth is being buoyed by megatrends such as light-weighting of cars, construction increases in china, and an expansion of automobile ownership due to upward social mobility in developing countries.
Global automobile ownership has been forecast to double by 2020.
Nevertheless, growth forecasts for 2014 are more cautious than those in the past.
“[the growth forecasts are] almost a slight increase, not like 2010 and 2011... Those numbers are relatively pessimistic compared to the ones in the past. Demand is still growing. It's ABS in China,” a global distributor said.
Not all ACN sources are optimistic about demand in 2014. Global fibre demand in 2014 is expected to remain at parity with 2013, a major acrylic fibre producer said.
“2014 - there's no reason to estimate the world is getting better. We make a modest budget and try to be inline and at least break-even,” the acrylic fibre producer said.
($1 = €0.72)
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