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)
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