Cytec: Weak demand holds down business in coatings resins

05/27/2009 | ICIS News (U.K.)

While demand for coatings resins is increasing in Asia and China, weakness in the U.S. and European markets will likely prevent specialty chemical group Cytec from returning to pre-recession levels of business until at least 2012, a company official says. The industry has shown no sustained sign of recovery from the collapse of the construction and automotive markets, and volumes in coatings resins decreased by 43% in the first quarter compared with the same period in 2008, said Frank Aranzana, president of Cytec's specialty chemicals division.

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