5/27/2009

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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ICIS News (U.K.)

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