German Chemical Output to Grow
German chemical trade group VCI has raised its chemical sales forecasts for 2011 after seeing a strong demand result in additional plant capacity utilisation.
VCI has projected a 9% sales increase for chemical businesses based in the country in 2011, up from a previous estimate of 4%.
The industry association said the capacity utilisation rate has increased by 2.2% to 86.9% during the quarter.
VCI said it expects chemical-sector output to increase 5% in 2011, up from the previously projected 2.5 %.
Chemical sales in the first quarter jumped 8.4% to $64bn over fourth quarter 2010, while production increased 3.2%.