France Petrochemicals Report Q3 2014 - New Market Study Published
New Energy market report from Business Monitor International: "France Petrochemicals Report Q3 2014"
[UKPRwire, Thu Jun 12 2014] Over the medium term, there will be little to stimulate the French petrochemicals market, according to BMI's latest France Petrochemicals Report. Construction growth will remain anaemic, which should provide stability in the vinyls chain if not recovery, although France will not contribute much to overall European consumption growth. Meanwhile, automotive sector output will remain lacklustre with slow levels of growth; it is unlikely to return the sector to pre-recession levels as the industry experiences structural change. As such, its contribution to plastics consumption growth will diminish with a knock-on effect for producers of engineering plastics.
Full Report Details at
In 2013, output of basic chemicals, fertilisers, plastics and synthetic rubber in primary forms declined by 1.7% year-on-year (y-o-y), compared to a decline of 4.5% in the previous year, according to data from the French National Institute of Statistics. However, in Q114, output was up 3.5% y-o-y and 9.1% quarter-on-quarter (q-o-q) as export volumes picked up. We remain sceptical that any major improvements in French exports will prove sustainable, given obstructive bureaucracy, high labour costs and the inflexible labour market that lies at the heart of ongoing competitiveness issues. Furthermore, euro resilience remains a considerable downside risk to French exports, which are particularly sensitive to a strong currency. While improving regional growth dynamics appear to be driving the French economy into positive growth territory, the lack of reform efforts undertaken so far imply that the economy will struggle to regain export competitiveness in the foreseeable future.
Over the past quarter BMI has revised the following forecasts/views:
* The domestic market is weighing heavily on the industry's performance. The automotive industry - a key polypropylene (PP) consumer - is set to see a 1.9% rise in vehicle output as low base effects from a weak 2013, pent-up demand from several years of declining production,...
The France 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 France Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the French petrochemicals industry.
* Benchmark BMI's independent petrochemicals industry forecasts to test other views - a key input for successful budgetary and planning in the French petrochemicals market.
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