Romania Petrochemicals Report Q4 2017
The Romanian petrochemicals market will be increasingly reliant on imports as the country'shealthy demand will outstrip the sector's capacity constraints. The main obstacle to growth in recent yearsis the poor performance of local petrochemicals producers, particularly the insolvent Oltchim, whichpossesses the country's largest chemical units. Hopes of privatising the plant are rising, although interest isprincipally focused on its more profitable chlor-alkali and PVC units.
The Romanian petrochemicals industry has failed to benefit from an upturn in economic growth, even as thecountry becomes a regional outperformer in terms of GDP growth. Romania's rubber and plastics outputdeclined 3.1% y-o-y in 5M17 following a year where output fell 0.9%, while chemicals output saw meagre0.5% growth, indicating some stabilisation following the 4.1% decline seen in 2016. The performance ofthese sectors lagged well behind average manufacturing growth of 8.7% in the January-May period.
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