Now Available: Venezuela Petrochemicals Report 2016
Recently published research from Business Monitor International, "Venezuela Petrochemicals Report 2016", is now available at Fast Market Research
[USPRwire, Wed Jan 27 2016] The Venezuelan petrochemicals industry may have benefitted from the impact of lower crude oil costs on naphtha feedstock prices, but the local market is facing severe constraints due to the country's ongoing economic problems and poor business environment. Petrochemicals converters are complaining of a lack of affordable and available polymers to cater for demand with imports severely constrained by a lack of foreign exchange. The opposition win in Venezuela's December 2015 election has, however, raised hopes of reform that could improve the business environment.
In 2015, Venezuela had ethylene capacity of 600,000 tpa, propylene capacity of 400,000 tpa, 450,000 tpa of polyethylene (PE) capacity, 110,000 tpa polypropylene (PP), 70,000 tpa polystyrene (PS) and 130,000 tpa polyvinyl chloride (PVC). These remain unchanged from 2011 and are unlikely to change significantly over the coming five years. Nevertheless, the country has significant competitive advantages that make it well placed to increase global sales, even in the event of the anticipated slackening of the petrochemicals market.
Full Report Details at
The legislative election in December 2015 saw the opposition to the Maduro administration win a majority. Venezuelan petrochemicals processors are hopeful of gradual change, both in the petrochemicals industry and the local market and the country's political institutions, which have hampered growth in capacity in recent years. The most immediate effect will be on the parallel exchange rate, which is expected to drop as people and investors gain confidence in the Venezuela economy. Due to a lack of foreign exchange and exchange rate volatility, Venezuela endures polymer shortages with rising imported polymer costs undermining the profitability of downstream converters. Improvements in the exchange rate coupled with a rise in hard currency availability could prove a stimulus to the local petrochemicals market.
The Venezuela Petrochemicals Report has been researched at source, and features BMI Research'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 Venezuela Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Venezuelan petrochemicals industry.
* Benchmark BMI's independent petrochemicals industry forecasts to test other views - a key input for successful budgetary and planning in the Venezuelan petrochemicals market.
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