Steady polyethylene, polypropylene demand in Africa expected in 2012

02-Jan-12
No major fall in overall polyolefin demand in Africa is expected in 2012, despite Africa's vulnerability to the ripple effect from the eurozone debt crisis. This could be attributed growth in domestic consumption that will offset Africa's exposure to domestic and international crises and help to sustain current levels of polyolefin demand, as per ICIS. The countries that sell semi finished plastic products to the EU that are likely to be affected are Morocco and Tunisia. However, Tunisia is a small market. The International Monetary Fund (IMF) has predicted a 6% growth rate for Africa in 2012, exceeding levels predicted for much of Europe and putting its growth rates almost on a par with Asia. All the countries in Africa are posting good growth. They have a significant growing manufacturing base. Africa is the only continent to be isolated from the world economic situation, and is not witnessing any slowdown. Polyolefin producers in the Middle East and Asia, and even in Europe, retain a more optimistic outlook on Africa than for many other markets. Direct Middle Eastern presence in Africa has increased through 2010–2011, and is expected to continue into 2012.
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