The Hungarian petrochemicals industry is proving to be one of the most dynamic and competitive producersin the Central and Eastern European (CEE) region. Although lacking significant domestic crude resources,the sector has nevertheless invested in expanding its basic chemicals facilities and is now venturing intovalue-added streams that can provide raw material for the country's growing automotive industry. Solutionstyrene-butadiene rubber (SSBR) and polyols are set to be the focus of growth over the short-tomediumterm, while the country's automotive industry continues to invest in its supply chain.
Magyar Olaj-és Gázipari (MOL) plans to invest USD1.6bn in its petrochemicals business between 2017and 2021, focusing on improving the yield of propylene and investment into attractive propylenederivatives, according to a company announcement in November 2016. This is part of the first phase of its2030 long-term strategy.