Asian Chemical Connections
Europe-headquartered chemical companies are relying on emerging markets to drive growth in 2013 amid continuing lacklustre domestic macroeconomic conditions.
BASF is basing its 2013 outlook on global chemicals production growth of 3.6% and global economic growth of 2.4%.
"Overcapacity is gradually being filled now, and will reach more of a normal capacity utilisation"
Marijn Dekkers CEO, Bayer
Generally, weak economic conditions persist and the chemical giant's apparent optimism - or should that be belief that things must get better? - is difficult to square with the dire state of Europe's major economies, combined with only lacklustre economic growth in the US and ongoing weakness in China.
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“Part of China’s ‘new normal’ is that ‘big stimulus’ won’t be called for every time growth decelerates.”
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