Hungary Petrochemicals Report Q2 2015 - New Market Study Published

The Hungarian petrochemicals industry remains an outperforme r in Central and Eastern Europe. S teady growth in output was reported for 2014 and we are optimistic that future growth will support continued expansion of capacities over the forecast period (to 2019).

The automotive industry is playing a major part in the country's plastics and rubber growth story with petrochemicals investment largely targeting the automotive supply sector. Production capacity in polyurethane used for car seating and synthetic rubber for tyres have has grown strongly with projects continuing to boost output. Hungary is highly specialised in the production of isocynates, used in the manufacturing of polyurethanes, and recent investment in chlorine recovery from the isocynates process has boosted the polyvinyl chloride (PVC) chain by Chinese-owned Borsodchem.

Full Report Details at
- http://www.fastmr.com/prod/956865_hungary_petrochemicals_report_q2_2015.aspx?afid=301

In the refining sector, which produces the naphtha feedstock used by the Hungarian petrochemicals sector, we forecast steady production of refined products to rise marginally to 181,000 barrels per day (b/d), leaving 55,000b/d to export once domestic demand of 125,500b/d are met. The incremental improvement in utilisation rates is something we see continuing for at least three more years (85.4% in 2015; 86.3% in 2016). It is a reflection of a modern, well-managed midstream sector in Hungary.

Key Developments And Forecasts

* MOL's Hungarian subsidiary TVK is investing HUF30bn (USD137mn) in a new butadiene plant in Tiszaujvaros with a capacity of 130,000 tonnes per annum (tpa). It is scheduled for completion in Q215. This will be followed in 2017 with a new 60,000tpa synthetic rubber plant, which will use the extra butadiene as a raw material for the manufacturing of rubber used in car tyres.
* In BMI's Europe Petrochemicals Risk/Reward Index, Hungary sits in ninth position out of 17 countries with a score of 59.0 out of 100, up one place and 0.4 points since the previous quarter. This puts the country 0.3...

The Hungary 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 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.

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

You may also be interested in these related reports:

- Czech Republic Petrochemicals Report Q2 2015
- Iran Petrochemicals Report Q2 2015
- Algeria Petrochemicals Report Q2 2015
- Saudi Arabia Petrochemicals Report Q2 2015
- United Arab Emirates Petrochemicals Report Q2 2015