The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
Although Egypt is seeing a leap in petrochemicals capacities in 2016, volatile feedstock supplies and
depressed domestic growth will limit growth in production volumes. The Egyptian pound's depreciation
should help mitigate the situation, although it is exerting a negative impact on local consumption due to
high inflation, while external markets - particularly in the EU and Turkey - are also coming under pressure.
As such, the outlook for the industry will take until mid-2017 to improve.
While local production is benefitting from a weaker exchange rate and import difficulties, it has not escaped
a squeeze on margins as cost pressures have risen. The local market will be sluggish, although depreciation
will favour local producers. The automotive sector remains in a slump, which is undermining consumption
of a range of rubber and plastic products used in car manufacturing. However, construction activity is
holding up and should help spur some growth in segments such as PVC.