Ukraine Petrochemicals Report Q2 2015 - New Market Research Report

The promised relaunch of Karpatneftekhim's polyethylene (PE) and polyvinyl chloride (PVC) facilities could boost Ukraine's petrochemicals industry in 2015, but with end markets likely to be lacklustre in the face of political and economic crisis it may take until 2016 before the plants reach high levels of capacity utilisation, according to BMI's latest Ukraine Petrochemicals Report.

In 2014, Ukrainian chemicals output declined by 5.1% year-on-year (y-o-y) to UAH46.6bn. Production grew sharply in the final two months, helping to end the year on a more positive note in an otherwise depressed 2014 and a decline of 10.6% in 2013. Meanwhile, rubber output declined 15.3%. The decline in plastic production was partly related to the closure of Karpatneftekhim.

Karpatneftekhim closed its 110,000 tpa polyethylene (PE) and 300,000tpa suspension polyvinyl chloride (SPVC) production in Q215 in Q214 due to a poor market output. This weighed down the country's petrochemicals output. In January 2015, reports suggested the plants could reopen in Q215 due to improved feedstock cost as a result of declining oil prices, although it is unclear what rate of production they will reach.

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Ukraine's political crisis also led to the closure of fertiliser producer Stirol, which is located in Horlivka (Donetsk region) and is part of Ukrainian businessman Dmytro Firtash's Group DF, in May 2014 due to the critical situation in the region and threats to security. Production of ammonia and its derivatives - urea, ammonium nitrate and urea-ammonium nitrate - were suspended.

* Before closure, Karpatneftekhim was planning to extrude PVC profiles for windows at the site. The company already has facilities with capacities of 182,000tpa chlorine and 200,000tpa caustic soda at the site. Together, the two projects in Kalush will establish a major industrial petrochemicals and plastics facility sufficient to supply the construction sector. A serious revival of the PVC plant and economic...

The Ukraine 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 Ukraine Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Ukrainian petrochemicals industry.

Key Benefits

* Benchmark BMI's independent petrochemicals industry forecasts to test other views - a key input for successful budgetary and planning in the Ukrainian petrochemicals market.

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