French Chemicals Industry Body: Sees Volumes Up 2.4% In 2011

The French chemicals industry is likely to grow 2.4% next year in volume, below what it's expected to achieve this year as economic growth slows, the Union des Industries Chimiques industry body said Monday.

The UIC also estimated that volume growth for 2010 will hit 9.8%, helped by an end to destocking, a recovery in demand in certain sectors--most notably car production--and strong growth in emerging economies.

"For next year, the slowdown in economic growth [that is] underway and the difficult recovery in certain sectors have increased the lack of visibility," the UIC said.

French chemicals companies include Arkema SA (AKE.FR), Rhodia SA (RHA.FR) and the chemicals division of the oil major Total SA (TOT).

-Adam Mitchell, Dow Jones Newswires, [phone]; [e-mail]