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

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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