SOCMA: Business Survey
Thu, 03/13/2008 - 10:47am
The Synthetic Organic Chemical Manufacturers Association (SOCMA) announced the results of its annual business outlook survey at this year's Informex trade show. The survey gathers members' opinions on the current state of the market, planned capital investments, and views on emerging markets, along with other issues. The results show that the vast majority of respondents believe the market is healthy and moving in positive directions. Additionally, fewer respondents this year rated the market as fair or poor compared to the last two surveys. The survey indicates much of the sales growth is expected to come from new approaches and new products as opposed to product improvement or small innovations in already existing products. Also, it should be noted that India and China are now being viewed as a reason for sales growth and are seen less as a negative competitive pressure. SOCMA is a leading trade association serving the specialty-batch and custom chemical industry. Its nearly 300 members employ more than 100,000 workers across the country and produce 50,000 products valued at $60 billion annually.