TDI demand in Africa will remain relatively stable in 2012

The business agency reported on February 9th that market analysts said that although the GDP in Africa has been growing steadily, the purchasing power of end consumers is still limited. It is expected that demand for African diisocyanate (TDI) will remain relatively stable in 2012. It is said that Africa's largest TDI market - Nigeria's 2011 TDI demand is about 18,000 tons. Usually, the demand for TDI is basically the same as the growth rate of GDP. However, due to the recent rise in fuel prices, internal conflicts and personal consumption shifting to spring mattresses may affect the demand growth rate of the downstream foam industry. In addition, rising TDI prices will also have a negative impact on TDI demand, industry sources said. Since January, the price of TDI has increased by an average of 100-150 USD/ton, and on February 7 it has reached 2,550-2,600 USD/ton CFR Lagos. In combination of all these factors, especially the global economic performance, it is expected that the demand for TDI in Africa may not increase or decrease significantly in 2012, but rather fluctuate within a smaller range.