Germany Petrochemicals Report - Business Monitor International - Industry Reports

Germany Petrochemicals Report

Germany Petrochemicals Report - Business Monitor International - Industry Reports
Germany Petrochemicals Report
Published Jun 11, 2016
72 pages — Published Jun 11, 2016
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Abstract:

The VCI has reported the US has now replaced the Netherlands as Germany s main chemicals export market, accounting for -- of total chemicals exports. The trend suggests that a weaker euro, coupled with slower growth in the eurozone, is having an impact on the structure of the external market. ...This should, in due course, spur investment in the expansion of existing capacity and increase research and development, with a focus on German operations. However, German chemicals companies are not investing in the domestic market, but continuing with opportunities in Asia and North America, highlighting the country s relatively high costs of business, particularly energy prices. The weak and volatile external demand picture is compounded by a longer-term trend of eroding export competitiveness, which is starting to make itself felt in the country s key industrial sector. ...The transition towards renewable resources will continue to exert a sizeable cost on energy-intensive German petrochemicals industries despite recent energy reforms. Attempts to shield the industry from these costs will delay the process of economic rebalancing towards a more consumption-based growth model, although German industrial competitiveness will ultimately suffer from higher energy costs.

...However, with capacity utilisation at --.- , the sector was performing well. ...Demand also decreased with domestic sales down -.- q-o-q and -.- q-o-q and external sales down --.- q-o-q and -.- y-o-y. There is growing confidence of a strong year among plastic packaging manufacturers as consumer demand strengthens, while the construction sector is also set for rising growth rates. The weak point is the automotive industry, which looks set to be hit by the Volkswagen emissions scandal. ...Poor growth over the last few years has limited the market size and, while positive, we forecast muted growth. Germany retains its unassailable lead in BMI s European Petrochemicals Risk/Reward Index, a clear -.- points ahead of the Netherlands.

...With ethylene capacity of -.-mn tonnes per annum, Germany has Europe s largest basic chemicals capacity. The industry is highly integrated with a diverse product range, particularly in specialty chemicals, which adds value to production. ...Chemicals account for about -- of manufacturing industry sales. International competitiveness across the industry has ensured the country maintains a large surplus in chemical products and Germany is a significant chemicals exporter. Germany s industry has undergone vast restructuring and consolidation, in part driven by the pressure from the financial markets to raise efficiency and create greater value for shareholders. ...

  
Source:
Document ID
1749-2246
Country
Industry
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Germany Petrochemicals Report" Jun 11, 2016. Alacra Store. Dec 03, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Germany-Petrochemicals-Report-2026-274>
  
APA:
Business Monitor International - Industry Reports. (2016). Germany Petrochemicals Report Jun 11, 2016. New York, NY: Alacra Store. Retrieved Dec 03, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Germany-Petrochemicals-Report-2026-274>
  
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