Home / Knowledge / News / Textiles / Saudi petrochemical sector faces mixed prospects
Saudi petrochemical sector faces mixed prospects
18
Jun '12
There are mixed signals for the petrochemical industry in Kingdom of Saudi Arabia (KSA), according to the latest report on “KSA Petrochemical Sector”, released by the NCB Capital.
 
The report states that weaker prices and a slowdown in demand are the adverse factors affecting the Kingdom’s petrochemical sector.
 
It adds that the continued economic uncertainty in European countries and decrease in petrochemical imports by China is also a cause of worry.
 
It further predicts that the demand for petrochemical products is likely to remain under pressure in the near future and a strong rebound is unlikely.
 
The study states there would be a drop in petrochemical prices in the second-half of the current year due to uncertain global environment and decline in oil prices.
 
It forecasts that the prices of all petrochemical products, except benzene and methanol, are likely to decline by 5-10 percent year-on-year in 2012.
 
But, the report adds, Saudi petrochemical companies are in a better position to withstand the pressure compared to those of other countries owing to lower cost of production in the Kingdom.
 
The Kingdom’s geographical proximity to the Asian countries, whose share in global petrochemical demand is increasing, is an advantageous factor for Saudi firms. Further, the increase in demand for petrochemicals in the US is a positive sign, according to the study.
 
The Asia-Pacific region accounted for 34 percent of global ethylene production in 2011, followed by North America with 23 percent, the Middle East and Africa 19 percent and Western Europe 17 percent.
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Reliance Industries

Textiles | On 24th Apr 2017

Reliance’s FY17 revenue from petrochemicals up 12.2%

Increase in prices across polymers and polyester chain has...

Textiles | On 24th Apr 2017

India, Kazakhstan to increase cooperation in textiles

Indian and Kazakhstan are deliberating upon increasing cooperation in ...

Textiles | On 24th Apr 2017

GST reflects 'One nation, One aspiration' spirit: Modi

Prime Minister Narendra Modi has said that the Goods and Services Tax ...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search