Fast Market Research recommends "Spain Petrochemicals Report Q1 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 03/19/2013 -- The Spain petrochemicals report examines recent production trends and assesses the likelihood of recovery over the coming year at a time of heightened risk and low levels of consumer confidence. It also analyses whether Spain has the ability to compete against the growing number of integrated facilities in the Middle East and Asia, with its ageing units generally functioning at a far lower capacity than producers in these regions.
The chemicals sector reported a positive performance in H112. Official statistics reveal that monthly growth in the chemicals production index averaged 1.4% year-on-year (y-o-y) over the period, although output fluctuated as a result of market volatility. However, in Q312 the situation declined markedly, with the chemicals index having fallen by an average 6.7%. The segment recorded marginal growth in July before contracting sharply in the two months that followed, with the index down 14.7% y-o-y in December. The situation in rubber and plastics was poor throughout the January-September period, with the segment index having fallen by an average of 8.7% y-o-y.
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Over the last quarter BMI has revised the following forecasts and views:
- The housing market is still in a slump, leading to further contraction in sales of the polyvinyl chloride (PVC) used in construction applications. Additionally, packaging and consumer durables will be hit by high unemployment, thereby depressing demand for all grades of polyethylene (PE) and polypropylene (PP). Cracker closures have lasted longer than expected, partly in response to the prevailing market conditions.
- BMI estimates that chemicals output fell 3% in 2012, while plastics and rubber output declined 10.5%. This compares to chemicals growth of 0.2% and plastics and rubber growth of -1.5% in 2011.
- Spain scores 66.7 points in the Western Europe Petrochemicals Risk/Reward Ratings (RRRs), leaving it in sixth and last place in our rankings. It is 5.3 points behind the UK.
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