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New Market Report: Romania Petrochemicals Report Q4 2014

New Energy market report from Business Monitor International: "Romania Petrochemicals Report Q4 2014"


Boston, MA -- (SBWIRE) -- 09/05/2014 -- The failure to privatise the troubled local petrochemicals producer Oltchim in H114 is weighing heavily on the prospects for the Romanian petrochemicals industry, in spite of the strengthening performance of the local market, according to BMI's latest Romania Petrochemicals Report.

In the first four months of 2014, chemicals output rose 6.1% and rubber and plastic grew 8.7%, compared to the industrial average of 8.2%. This follows 11.7% growth in rubber and plastic and 12.5% growth in chemicals in 2013. Oltchim is reportedly operating at under a quarter of its capacity, a situation that was undermining its profitability at a time when the government is planning to privatise it. The government is seeking to boost capacity utilisation to 50%, at which it claims the plant would break even.

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In H114 the Romanian economy ministry was due to attempt to select a viable bidder for a debt-free version of local chemicals producer Oltchim. Although the company has reduced its losses after declaring insolvency in January 2013, the company still struggles to find a buyer.

- We are forecasting that 2014 should see the beginnings of growth for the Romanian construction industry with a 1% rise following zero growth in 2013. However, growth will not be dynamic over the medium-term, which will limit growth in construction-related petrochemicals such as PVC.

- While the performance of the automotives industry has been comparatively lacklustre (affecting engineering plastics), BMI remains optimistic. BMI maintains a bullish view on autos production in Romania, predicated on competitive wages and ongoing investment from autos manufacturers. In 2014, we forecast a 7.5% increase in total vehicle production, although this is a downward revision from 9.1% forecast in the previous quarter. However, by 2018 automotive output will be around 37% up on 2013 as plants expand capacity.

- Romania ranks 14th in BMI's Europe Petrochemicals Risk/Reward Ratings (RRRs),...

The Romania 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 Romania Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Romanian 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 Romanian petrochemicals market.

- Target business opportunities and risks in the Romanian petrochemicals sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Romania.

- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).


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).

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