New Report Available: Hungary Petrochemicals Report Q2 2016

The Hungarian petrochemicals industry experienced strong growth in 2016 on the back of robust performance in the automotive sector. However, the over-dependence on car making places means that the production of polymers and rubbers is influenced by the automotive industry, which is set for slower growth over the medium term.

BMI estimates that rubber and plastic output grew by around 15% y-o-y in 2015, while chemicals output rose 4%. Petrochemicals producer MOL saw output at its Hungarian plants surge with double digit growth accompanied by bigger margins.

There is a modest upside to the performance of the Hungarian petrochemicals sector in 2016 with the addition of new 130,000 tonnes per annum (tpa) butadiene capacity in Q415 and supportive economic environment, although growth will moderate. While the increase in butadiene output will serve as feedstock for a new 60,000tpa styrene butadiene rubber plant, due to open in 2017, there is a danger of over-supply in a European market that is already seeing surplus butadiene drive down prices.

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In 2015 Hungary had olefins production capacities of 660,000tpa ethylene and 400,000tpa propylene. It is also forecast to have polymer capacities of 400,000tpa high density polyethylene, 210,000tpa low density polyethylene, 650,000tpa polypropylene and 440,000tpa polyvinyl chloride.

In the fertiliser segment, Hungary is forecast to have capacities of 380,000tpa ammonia and 195,000tpa urea. Over the long term, the Hungarian petrochemical industry's ability to grow its exports will be constrained by capacity.

In BMI's Europe Petrochemicals Risk/Reward Index, Hungary sits in 11 th place this quarter, down two places as a result of a 0.2 points reduction in its score to 58.6 out of 100. Hungary was leapfrogged by the Czech Republic and Russia as its country risk declined with its economic structure score under pressure. Hungary lies 0.3 points behind Czech Republic and 10.7 points ahead of Turkey.

The Hungary Petrochemicals Report has been researched at source, and features BMI Research'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 Hungary Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Hungarian 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 Hungarian petrochemicals market.

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