Boston, MA -- (ReleaseWire) -- 06/13/2014 -- The Romanian petrochemicals industry is set to see better prospects in 2014 as export-oriented industries exhibit stronger growth. However, BMI's latest Romania Petrochemicals Report states that the key issue for the sector remains the future of Oltchim, the troubled chemicals manufacturer that the government hopes to privatise this year.
After the long anticipated privatization of insolvent Romanian PVC producer Oltchim was postponed yet again, this time until mid-May, Economy Minister Varujan Vosganian revealed on May 30 that eight companies are interested in takeover plans.
In 2013, rubber and plastic output grew by 11.7% year-on-year (y-o-y) while chemicals output rose 12.5%. Growth was sustained going into Q114. In the first two months of 2014, chemicals output rose 9.1% and rubber and plastic grew 9.4%, which was lower than the industrial average of 9.7% but still outpaced the rate of economic growth.
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- We are forecasting that 2014 should be a stronger year of growth for the Romanian construction industry, following the release of official full year 2013 data that showed a 0.1% contraction. In 2014, construction will grow just 1%.
- While the performance of the automotives industry has been comparatively lacklustre (affecting engineering plastics), BMI remains optimistic. In 2014, we forecast a 9.1% increase in total vehicle production. As such, Romania holds significant growth opportunities for chemicals and plastics producers from other countries in Europe, particularly given the constraints and problems facing domestic producers.
- Healthy industrial output growth readings, spurred on by exports, imply increased potential for the petrochemicals industry. Growth could be boosted further if petrochemicals producer Oltchim resumes full production following privatisation, although BMI is mindful that some loss-making units could be permanently closed.
Romania ranks 13th in BMI's Europe Petrochemicals Risk/Reward Ratings (RRRs), scoring 45.0 points out of...
The Romania 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 Romania Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Romanian petrochemicals industry.
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