Israel’s petrochemicals industry saw a mixed performance in 2018 and there is a danger market dynamics will weaken in2019 amid slower economic growth. Additionally, the appreciation of the shekel could undermine the competitiveness of localproducers at a time when some polymer segments are over-supplied. Rising cost of naphtha feedstock due to higher crude pricesalso poses a risk to profitability. As such, manufacturing growth - on which petrochemicals depends for sales - will face limits,curtailing some of the growth in the local market.
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