DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/c2585d/ukraine_petrochemi) has announced the addition of the "Ukraine Petrochemicals Report Q4 2011" report to their offering.
The Ukrainian petrochemicals industry is enjoying a strong export-led recovery, but this remains precarious and subject to high levels of external risk, according to BMI's latest Ukraine Petrochemicals Report.
In H111, chemical and petrochemical output grew 18.3% y-o-y with basic chemicals up 38.3%, rubber products down 5.3% and plastic products up 7.1%. Performance declined through Q211, particularly in June, as base effects wore off. On a y-o-y basis, primary plastics output in H111 was up 75.1% to 234,800 tonnes with monthly output in June up 155% y-o-y and at the highest level since March 2008. Output was boosted by the start of production at Karpatneftekhim's new PVC complex at the beginning of the month. The 300,000 tonnes per annum (tpa) suspension vinyl facility in Kalush was expected to be completed in 2009, but has suffered from continuous delays due to the poor performance of the Russian PVC market. The resumption of growth in Russian construction activity in 2011 should support Ukrainian PVC exports and output going forward.
BMI's continues to see robust export performance through to the end of 2011, which will underpin the recovery. The export-oriented nature of growth in petrochemicals means that the industry is highly exposed to external risks. A significant deterioration in the demand for Ukraine's major export products would pose a major setback for the industry. In addition, BMI highlights that the relative competitiveness enjoyed by Ukrainian petrochemicals exporters will be eroded by rising domestic gas prices as government subsidies are withdrawn under Kiev's International Monetary Fund (IMF) Stand-By Arrangement (SBA) as well as the rise in oil prices, which will spur the growth in naphtha feedstock.
Companies Mentioned:
- KarpatNaftoKhim
- Stirol
- TNK-BP
For more information visit http://www.researchandmarkets.com/research/c2585d/ukraine_petrochemi