production of pigments in
emerging markets? How would
you describe the pigment mar-
ket is these emerging areas
(China, India, etc.) and will we
continue to see this shift to Asia
from the developed world mov-
ing forward?
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Yazdani, Sun: Demand in the emerging
markets is still closely tied to their
exports to Europe and North America.
The financial crisis is a global one and
their growth will be severely impacted
by the lower demand in the developed
world. In China, tighter environmental
controls, and less available credit, on
top of lower demand will most likely
make pigment producers there both
less competitive and fewer in number.
As a consequence, we are exploring
potential opportunities to better utilize
our North American and European pigment manufacturing operations.
From a geographical viewpoint, the
emerging industrial giants, China,
India and Eastern Europe, are seen
as the markets where per capita gross
domestic product (GDP) is expected to
grow most rapidly. Related to the
GDP growth of these emerging markets will be the growth in the demand
for high performance pigments for
the coatings of durable goods, buildings and the automotive sector.
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Poemer, Heucotech: The emerging
economies slowed even more than initially expected in the first half of 2009.
The Indian and Chinese coatings market had to deal with a double-digit
reduction in sales in the first half of the
year. The situation in these markets
has improved in the second half of the
year due to the tremendous rescue
packages, but will record only marginal
growth in 2009. Even though the shift
of the pigments market to Asia has
slowed down due to the global economic impact this trend will continue.
Woolven, Sudarshan: The demand and
production of pigments for domestic consumption in India and China has continued to grow due to market improvements. The trend will continue to improve
as domestic markets continue with their
organic growth, while customers in
mature markets look for logical alternatives which will fuel exports. CW
