(MENAFNEditorial)
The Czech petrochemicals industry is on course for solid growth in 2014 and beyond in line with growth in key domestic plastic and chemicals converters which primarily serve export markets. However BMI's latest Czech Republic Petrochemicals Report warns that recovery is tenuous and depends on external markets and feedstock prices.
BMI estimates that in the first five months of 2014 chemicals output was up 7.5% year-on-year (y-o-y) while rubber and plastic was up 10.8% y-o-y. This was a marked improvement on 2013 growth rates when chemicals shrank 6.8% and rubber and plastics grew 4.6%. In H112 Unipetrol's petrochemicals segment profitability increased to CZK1.85bn from CZK1.41bn in H113. Improvement was driven by significant increase of sales volumes by 12% y-o-y from 792000 tonnes in H113 to 885000 tonnes in H114 due to higher utilisation of the steam-cracker and polyolefin units. In terms of volume polyethylene (PE) sales were up 12.6% y-o-y to 152000 tonnes while polypropylene (PP) sales grew 11.6% to 135000 tonnes.
Full Report Details at
- http://www.fastmr.com/prod/871648_czech_republic_petrochemicals_report_q4_2014.aspx?afid=101
* Unipetrol's refining subsidiary Ceska Rafinerska has been hurt by a squeeze on margins in the sector and its minority foreign investors have sold their stakes in the past months. In July 2014 the Czech government indicated that it was interested in buying one of the country's two oil refineries from Unipetrol majority-owned by Poland's PKN Orlen and combining it with state-owned oil and oil product pipeline firms. PKN and the government have been in talks for months on the future shape of a refining sector hit by depressed margins.
* We have slightly revised upward our forecast for real GDP growth in the Czech Republic for 2014 - to 1.8% from 1.6% previously due to a slightly more robust export-led recovery than we previously expected. The bulk of Czech exports comprise capital intermediaries tightly linked to Germany's export-oriented industrial base and we expect a broad-based slowdown in emerging market growth especially...
The Czech Republic Petrochemicals Report has been researched at source and features Business Monitor International (BMI)'s market assessment and independent forecasts for key petrochemicals sub-sectors. The report also analyses the impact of regulatory changes recent developments and the background macroeconomic outlook and features competitive landscapes comparing companies by products and services sales market share investments projects partners and expansion strategies.
BMI's Czech Republic Petrochemicals Report provides industry professionals and strategists sector analysts trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Czech petrochemicals industry.
Key Benefits
* Benchmark BMI's independent petrochemicals industry forecasts to test other views - a key input for successful budgetary and planning in the Czech petrochemicals market.
* Target business opportunities and risks in the Czech petrochemicals sector through our reviews of latest industry trends regulatory changes and major deals projects and investments in Czech Republic.
* Assess the activities strategy and market position of your competitors partners and clients via our Company Profiles (inc. KPIs and latest activity).
Coverage
BMI Industry View
Summary of BMI's key industry forecasts views and trend analysis covering petrochemicals markets regulatory changes major investments projects and company developments.
Market Overview
Structure size and value of the industry sector; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments.
Business Environment Rankings
BMI's Petrochemicals Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (both corporate and financial) in the regional petrochemicals market.
The rankings methodology makes sophisticated use of over 40 industry economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.
Industry Trends & Developments
Evaluation of company and sector-wide developments including key projects (as well as expansion plans) latest company financial details and proposed international ventures.
BMI Industry Forecasts
Historic data series (2009-2012) and forecasts to end-2018 for all key industry and economic indicators supported by explicit assumptions plus analysis of key risks to the main forecasts. Indicators include:
Energy: Oil production (`000 b/d) oil consumption (`000 b/d) net oil exports (`000 b/d) gas production (bcm) gas consumption (bcm) net gas exports (bcm) oil refinery capacity (`000 b/d).
Petrochemicals: Ethylene capacity (`000 tpa) ethylene production (`000 tpa) ethylene consumption (`000 tpa) polyethylene capacity (`000 tpa) polypropylene capacity (`000 tpa) polyvinyl chloride capacity (`000 tpa) polyolefins consumption (`000 tpa).
Oil Products Prices: Price forecasts for all major oil-based products (US$/bbl) at major global energy trading hubs.
Economic: Nominal GDP (US$bn) real GDP growth (%) GDP per capita (US$) population (mn) unemployment (%) exchange rate (against US$).
Company Profiles
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles enabling a full evaluation of recent company performance and future growth prospects.
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