2014-02-07 20:57:01 - United Kingdom Petrochemicals Report Q1 2014 - a new market research report on companiesandmarkets.com
The latest UK Petrochemicals Report states that while the British petrochemicals industry will return to its pre-recession level of output, recent capacity closures will prevent any return to 2008 levels of production. Instead, the sector will focus on more high-value, low volume production, exploiting niche markets where it has a global competitive edge.
The decline in chemicals and petrochemicals has abated and in Q313 petrochemicals production levels were up 8.2% year-on-year (y-o-y), following a decline of 3.8% in Q113 and modest growth of 1.6% in Q213.
Following the better-than-expected results in Q313, which were accompanied by an overall improvement in British industrial output. Chemicals production also rose 3% y-o-y in Q313 and 0.6% for the first nine months of the year. While
the growth rates are a welcome boost to the British chemicals and petrochemicals industries, they only mark the end point of a period of deep decline.
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