25 October 2013 16:46 [Source: ICIS news]
LONDON (ICIS)--European cyclohexane (CX) is expected to grow by around 2% year-on-year in 2014, in line with GDP, according to a forecast from a major buyer on Friday.
“I would expect a small growth a couple of % [in 2014], in line with GDP broadly,” the buyer said
A trader was also expecting demand to grow in 2014, but could not give an exact forecast.
“Most people are optimistic, even if just slightly optimistic,” the buyer said.
Consumption is expected to increase because of a rise in consumption from downstream markets because of macroeconomic recovery.
Downstream European adipic acid (ADA) players predicted this week that 2014 will grow by up to 3%, while caprolactam (capro) players remain concerned that additional capacity in Asia may reduce margins.
($1 = €0.72)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections