Fast Market Research recommends "Israel Petrochemicals Report Q3 2012" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 07/16/2012 -- The Israel Petrochemicals Report examines the impact of the eurozone slowdown on chemicals output and considers alternative markets for exports.
The report examines the impact of the petrochemicals industry's exposure to developed markets and considers how the Israeli petrochemicals industry is seeking to maximise opportunities elsewhere. The report also analyses how industry consolidation coupled with currency depreciation has impacted on the structure of the Israeli petrochemicals market and whether this has balanced out the cost disadvantages caused by a lack of indigenous feedstock sources.
The Israel petrochemicals industry will suffer from a downturn in domestic industrial growth over the next few years. External demand for Israeli exports is likely to remain sluggish throughout 2012, particularly with the prospect of recession in the eurozone, coupled with the still-weak outlook in China and the United States, the three e main markets for Israeli chemical, plastic and rubber goods. Although faltering growth in key developed export markets will continue to weigh on the relatively large external sector, increasing diversification towards faster-growing emerging markets, as well as ongoing product specialisation should lessen the constraint.
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Over the last quarter BMI have revised the following forecasts/views:
- BMI has revised down its industrial growth forecast for 2012 from 5.4% to 3.0% and the medium-term scenario has also deteriorated. This will further limit domestic petrochemicals consumption growth in downstream industries, although the shekel's weakness should undermine the competitiveness of petrochemicals imports on the local market.
- High oil costs will erode margins and Israeli chemicals and fertiliser producers expect to see a decline in profits in 2012.
- In BMI's Middle East and Africa petrochemicals business environment rankings matrix, Israel lies in fifth place, with a score of 56.6 points, down 0.2 points since the previous quarter due to a modest decline in long-term external and political risk ratings. The country lies 3.6 points behind Qatar and 0.2 points ahead of Iran.
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