Great American Group Reports Optimistic Outlook for Chemicals and Plastics Markets in 2014
–Automotive and housing demand to drive growth in 2014–
WOODLAND HILLS, Calif.--(BUSINESS WIRE)--Analysts with Great American Group, Inc. (OTCBB: GAMR) report that the outlook for the chemicals and plastics sector is optimistic in 2014, due largely to strong forecasted demand from the residential construction and automotive production markets. In 2013, the housing demand exhibited a resurgence, driven predominantly by the residential construction sector. The automotive sector posted similar results, boasting its highest unit sales since 2007 with 15.6 million new vehicles in 2013.
“While nothing is certain in the global economy, our industry analysts are optimistic that 2014 will mirror the growth witnessed last year.”
“Despite a number of challenges, the chemicals and plastics industries demonstrated growth in 2013, boosted by the highest level of car sales in six years and rapid expansion in the housing market,” said Jonathan Deptula, Great American Group senior project manager and chemicals/plastics industry specialist. “While nothing is certain in the global economy, our industry analysts are optimistic that 2014 will mirror the growth witnessed last year.”
Low-cost shale gas also continued to contribute significantly to the strong industry performance. The abundance of cheap raw materials sparked something of a renaissance in the domestic industry, with numerous industry participants announcing new plant construction and expanded capacity in the coming five to ten years. Formerly plagued by high costs, analysts believe the U.S. is becoming increasingly price competitive on a global scale.
For more information about industry trends in chemicals, plastics and packaging, download Great American Group’s newest quarterly Chemicals and Plastics Monitor – available on the company’s website at http://greatamerican.com/static/pdf/industry-insights/Chemicals%20and%20Plastics/Chemicals%20and%20Plastics%20Monitor%20January%202014.pdf.
Additional information about asset disposition or advisory and valuation services is available on Great American Group’s website at www.greatamerican.com.
About Great American Group, Inc. (OTCBB: GAMR)
Great American Group is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services for an extensive array of companies. A trusted strategic partner at every stage of the business lifecycle, Great American Group efficiently deploys resources with sector expertise to assist companies, lenders, capital providers, private equity investors and professional service firms in maximizing the value of their assets. The company has in-depth experience within the retail, industrial, real estate, healthcare, energy and technology industries. The corporate headquarters is located in Woodland Hills, Calif. with additional offices in Atlanta, Boston, Charlotte, N.C., Chicago, Dallas, Melville, N.Y., New York, Norwalk, Conn., San Francisco, London, Milan and Munich. For more information, call (818) 884-3737 or visit www.greatamerican.com.