Czech Republic Petrochemicals Report Q2 2015 - New Report Available

Strong growth in Czech chemicals, plastics and rubber output has been accompanied by falling feedstock costs, leading to hope that the country's petrochemicals industry will enjoy stronger profitability in 2015, according to BMI's latest Czech Republic Petrochemicals Report.

Czech petrochemicals producer Unipetrol's saw its margins boosted by cheaper oil prices and higher operating capacity in Q414, enabling it to report a profit in the quarter and helping to slash its annual losses by three quarters. Demand for refinery and petrochemical products has picked up because of the performance of the Czech economy, which has been growing for the past four quarters.

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Targeting an 11% increase in its petrochemical sales volume to 1.4mn tonnes by 2017, Unipetrol said it anticipated that the global demand for basic petrochemicals to grow by an average 3-3.5% over the next five years. It will have to compete with producers that utilise cheaper ethane as feedstock in a regional market that is currently enduring a low-growth period. The narrowing of the price differential between ethane and naphtha should be sufficient to ensure Unipetrol's long-term operations.

* Unipetrol is planning to increase its polyethylene (PE) capacity at its Litvinov site by replacing the ageing 120,000 tonnes per annum (tpa) high-density polyethylene (HDPE) unit with a 300,000tpa plant, thereby raising its total PE capacity from 320,000tpa to 500,000tpa in Q216.
* Unipetrol is also planning the closure of its 350,000tpa ammonia plant in Litvinov due to a lack of competitiveness and an increasingly limited market.
* In BMI's European Petrochemicals Risk/Reward Index, the Czech Republic scores 57.7 points out of a maximum of 100, down 0.5 points since the previous quarter due to a fall in its country risk score. However, this decline has not affected its position in the Europe rankings, retaining its 10th position which it has held for the past year. BMI, does not expect a significant change in its...

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

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