EMIS Emerging Market Information Service EMIS - Chemical Sector Poland | Page 6

Sector Forecast
Oxford Economics forecasts for Poland (%) ? The basic chemicals & fertilizers market in Poland grew by CAGR of 6.8% in 2007-2011 and is expected to expand by 5.6% (CAGR) in 2012-2016 and by 4.5% in 2017-2021. ? Pesticides & other agrochemicals decreased by CAGR of 1.5% at that time and Oxford Economics' forecasts for this segment are +1.1% and -1.5%, respectively. In the case of the rubber & plastics branch - CAGR growth of 3.6% and 3.8% is expected in the projected periods after a robust growth of 10.6% (CAGR) in 2007-2011. ? Grupa Azoty – Poland's largest chemical sector company - expects stabilization in the fertilizer market this year, while it expects a very difficult year for the chemical sector (especially OXO alcohols and some plastic products), which it attributes to high raw material prices coupled with high price pressure on caprolactam. The firm's operating result for that segment may even be in the red. ? In 2014 things should improve – especially as Grupa Azoty is counting on a ?]?]?[?H]]?[?]?H[?\??HHH?^HX\??]??]???X??????\??N????X???ZX?[?H?Y\??X?][??\?[???X][?\???X?H??X?]Y???\?Y?0?H?L?[?\??]?X?\?]Y\?[??
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