Now Available: Israel Petrochemicals Report Q2 2015

Lower naphtha prices will help support Israeli petrochemica ls margins over the medium term, while in the short-term producers will benefit from a recovery in the domestic market, according to BMI's latest Israel Petrochemicals Report.

In the first 10 months of 2014, Israeli rubber and plastic production declined 1.1% year-on-year (y-o-y) while petroleum and chemical products output declined 2.4%. Downtime at Oil Refineries Ltd's (ORL) hydrocracker in September did not help output volumes, but improved margins in petrochemicals helped shore up its profitability.

In 2014, Israel's petrochemicals industry included capacities of 450,000 tonnes per annum (tpa) ethylene, 345,000tpa propylene, 125,000tpa benzene, 230,000tpa xylenes, 165,000tpa polyethylene (PE), 450,000tpa polypropylene (PP), 160,000tpa polyvinyl chloride (PVC) and 60,000tpa of methanol, according to BMI estimates. BMI does not envisage any substantial increase in capacities during our forecast period (ending in 2019), and there are no plans for any new petrochemicals plants over the medium term.

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* The domestic market will be supported by a recovery from a poor performance in 2014 when the economy was hit by the effects of the government's conflict with Hamas in Gaza, but the strength of this recovery will be determined in large part by the security situation.
* Israeli petrochemicals competitiveness will continue to be determined by naphtha and the risks are to the upside in the country's relatively small, naphtha-fed petrochemicals industry, this will be crucial to ongoing profitability.
* In BMI's MEA Petrochemicals Risk/Reward Index (RRIs) matrix, Israel remains in sixth place, although its score has declined 0.7 points to 56.3 points as a result of a decline in its country risk score. The Palestinian issue and strained relations with its neighbouring countries have led to a precarious security situation that is having a wide-ranging effect on the country. Nevertheless, it...

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

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