Home / Knowledge / News / Textiles / Taiwan's Q4 petrochemical output expected to rise
Taiwan's Q4 petrochemical output expected to rise
23
Nov '12
Banking on the stimulus measures introduced by the world’s leading economies, which are expected to enhance demand, Taiwan foresees its petrochemical output value for the fourth quarter (Q4) of current year to be 7.6 percent higher than its third quarter’s (Q3) output, a Government report stated.
 
The report by the Industry and Technology Intelligence Services (ITIS), a research institute under the Ministry of Economic Affairs, said the petrochemical sector’s output is expected to increase to NT$ 462.2 billion in Q4 compared to production worth NT$ 429.5 billion during the corresponding period last year, according to Taipei Times.
 
However, it noted that the sector’s overall output for 2012 is expected to decline 4.7 percent from 2011’s NT$ 1.92 trillion to NT$ 1.83 trillion, due to the ambiguity surrounding the global economy.
 
The stimulus measures introduced by major economies, which are expected to drive Taiwan’s Q4 petrochemical output, include the US Federal Reserve’s third round of quantitative easing and China’s move of releasing funds in the market.
 
According to ITIS, international crude oil prices are also likely to stabilize in Q4, which would allow petrochemical producers to generate more profits and encourage them to boost exports.
 
In addition, the enhanced propylene production by the state-run oil supplier would also contribute in boosting the country’s overall petrochemical output in the ongoing quarter, the report stated.
 
In spite of all this, ITIS foresees a drop in the country’s overall petrochemical output for current year, as factors like concerns over the eurozone debt crisis experienced during early part of the year and intensifying competition from emerging nations, impacted the Taiwanese industry.
 
The institute noted that the negativities still persist, but are balanced by the stimulus measures, as of now.
 
The report stated that partial suspension of production by CPC Corp and the Formosa Plastics Group for annual maintenance resulted in a 4.1 percent quarter-on-quarter decline in the petrochemical sector’s Q3 output.
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Textiles | On 18th Jan 2017

Schoeller unveils water-repelling fabric ‘bling’

Schoeller textiles, Swiss textile company, has released its new...

Textiles | On 18th Jan 2017

China lays out plan to boost foreign investment

The Government of China has outlined measures to boost foreign...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Jay Ramrakhiani
Occasions Elegance Wear

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Silvia Venturini Fendi
Fendi s.r.l

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

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search