Welcome to ICIS Resource Centre

Welcome to the ICIS Resource Centre


ICIS News TV Youtube Channel

prev next

DOWNLOAD NOW: Global Outlook for Plastics (2015-2030)

DOWNLOAD NOW: Global Outlook for Plastics (2015-2030)

As China’s outlook darkens, the competitive landscape is fast evolving for global plastics. Industry players must review their strategy and seek new sources of growth.

  • Which commodities offer the biggest growth potential?
  • How long will current global conditions of low costs and high volatility last?
  • What factors are driving new assets in polymers? Where will these be located?

This outlook piece will answer these questions and more, offering insights into market developments and the global outlook for 2015.

Energy markets in flux – Infographic

Energy markets in flux – Infographic

Get a retrospective outlook for key energy markets including Oil; Carbon, Coal, and Power.

Top 100 Chemical Companies - Regional Leaders 2014

Top 100 Chemical Companies - Regional Leaders 2014

The ICIS Top 100 Chemical Companies list provides you with a further dissection and analysis of the Top 100 Chemical Companies. 

 It includes the Top 10 chemical companies in each region with detailed analysis and comprehensive commentary. This feature is published annually in ICIS Chemical Business.

ICIS Power Index (IPI)

ICIS Power Index (IPI)

The ICIS Power Index (IPI) gives homes and businesses an insight into price trends on the UK wholesale electricity market.

The IPI is published daily by ICIS, an independent authority on UK electricity market pricing, and is available at no charge.

New EPTR: Market developments and key trends for Europe’s power sector

New EPTR: Market developments and key trends for Europe’s power sector

The European Power Trading Report (EPTR) covers quarterly updates on key market insights for 14 different European countries.

Gain access to the widest range of established markets, but also developing European Power markets ,such as Romania, Bulgaria, Greece and Turkey.

The Market Stability Reserve (MSR) – A White Paper for an optimised approach

The Market Stability Reserve (MSR) – A White Paper for an optimised approach

In this white paper we put forward our proposal for an optimised MSR that would enables the EU ETS to promote reductions in greenhouse gas emissions in the most cost-effective and economically efficient manner.

We believe our proposed approach is able to handle a broad array of emission regimes (including high emissions scenarios) whilst preserving the integrity of the EU ETS carbon price signal.

New whitepaper discussing developments and opportunities in China’s growing LNG market

New whitepaper discussing developments and opportunities in China’s growing LNG market

The Chinese government has been offering firm support to aid the development of the LNG sector, bringing about an increase in investment opportunities throughout the country.

Download this free whitepaper to gain a better understanding of China’s LNG supply and demand, import capacity and construction of new terminals.  

US fertilizer outlook remains positive despite weakening demand: Mosaic

US Fertilizer Outlook

Mosaic’s long-term outlook for the fertilizer industry remains positive, despite declining fundamentals for crop nutrients, CEO James Prokopanko said.

ICIS Top 100 Chemical Companies

Image

The ICIS Top 100 Chemical Companies 2015 listing highlights the top players in the global chemical industry.

Most chemical companies found it difficult to generate top line and profit growth in 2015 following a strong performance in 2014. 

Chemicals

Easy access to a host of downloadable ICIS Chemical resources; including:

Energy

Easy access to a host of downloadable ICIS Energy resources; including:

Fertilizers

Easy access to a host of downloadable ICIS Fertilizer resources; including:

 

Featured Content

ICIS Webinar: The EU ETS Post-2020 reform and its impacts untangled, 11th December at 14

ICIS Webinar: The EU ETS Post-2020 reform and its impacts untangled, 11th December at 14

In this webinar, our senior analysts Marcus Ferdinand and Stefan Feuchtinger will explain how the agreed revision will change the fundamental structure of the carbon market and explain why carbon prices will gain importance for the wider energy complex.

ICIS Top 100 chemical companies 2017

ICIS Top 100 chemical companies 2017

ICIS is pleased to present the top 100 chemical companies of 2017. Based on 2016 sales, the list highlights the largest and most influential companies on earth.

White paper: What is the potential impact of the Trump administration on the US energy industry?

White paper: What is the potential impact of the Trump administration on the US energy industry?

ICIS takes a closer look at how key sectors within the US energy industry were shaped by the Obama administration and what the potential market impact could be under the helm of President Donald Trump.

What's New from ICIS

Fertilizer Global Outlook: What to expect from the fertilizer markets in 2018

Fertilizer Global Outlook: What to expect from the fertilizer markets in 2018

Price volatility was evident throughout 2017 in most fertilizer markets, but with the new year upon us there are many questions that linger.

What do the next 12 months have in store for producers, traders and buyers?

How will each segment absorb new capacity or satisfy additional demand?

Find out by downloading this year’s Global Fertilizer Market Outlook.

Mexico Energy Outlook 2018

Mexico Energy Outlook 2018

Mexico’s energy reform has entered into its sixth and most decisive year yet, as the country gears up for a presidential election in July 2018, against the backdrop of ongoing renegotiations over the North American Free Trade Agreement (NAFTA) with the US and Canada.

As the leading information provider for the Mexican gas and power markets, ICIS is pleased to provide you with the Mexico Energy Outlook covering the most important milestones and development stages for both sectors through 2018.

ICIS Global Chemicals Outlook 2018 Series

ICIS Global Chemicals Outlook 2018 Series

It comes as no surprise that petrochemicals markets were in disarray in 2017. Hurricane Harvey made landfall in the US but had a global effect on the markets. With the dawn of a new year, it’s important to understand what happened in the markets in 2017 and get a glimpse of what to expect in 2018.

ICIS is delighted to announce the launch of the 2018 global chemical outlook magazines. These publications provide a detailed overview of 2017 and the outlook for the next 12 months for the key chemical markets listed below.

 



 

EU’s plastics policies and impact on petrochemicals markets

EU’s plastics policies and impact on petrochemicals markets

Proposals for the first ever Europe wide strategy on plastic waste* were launched in January, aiming to commit to total plastic packaging recyclability or reusability by 2030.

ICIS news has been following this developing story closely, reporting on how the proposed strategy will affect the demand of primary plastics as well as what possible opportunities there may be to develop new products and feedstock streams.

European Natural Gas Outlook 2018

European Natural Gas Outlook 2018

Download the outlook for an insight into several large natural gas projects, including two market mergers, which could reshape the current trading landscape, as well as the resumption of supply from Russia to Ukraine, which has the potential to shake the market in central Europe and reshape the trading landscape.

Free Download: Asia PP & PE Forecast Webinar

Free Download: Asia PP & PE Forecast Webinar

ICIS hosted a webinar, providing an overview of the trading activities for Asian polyolefins, a forecast of how the Asia markets will evolve in terms of pricing and margins, as well as a supply and demand outlook in 2018.

 



 

Further enhancements to ICIS’ styrenic resins coverage

Further enhancements to ICIS’ styrenic resins coverage

With China being the main buyer of both Acrylonitrile Butadiene Styrene (ABS) and Polystyrene (PS), as well as a net exporter of Expandable Polystyrene (EPS), shifts in domestic supply, demand and especially prices have significant impact on global markets.

To reflect current market activity, ICIS has enhanced its pricing coverage of Asian styrenic resins to include DEL (delivered) East China prices. Together with the spot prices and commentary on drivers such as feedstock, bids, offers and production news, the newly enhanced report ensures you have the data you need to make your commercial decisions.

European Power Outlook 2018

European Power Outlook 2018

Electricity markets are likely to be shaken up by various country-specific policies as well as EU-wide projects.

Download the European Power Outlook 2018 for an understanding of the crucial supply, demand and regulation changes which could impact power prices and market liquidity at a country-by-country level.

New Petrochemicals Plant Capacity and Expansions in Europe

New Petrochemicals Plant Capacity and Expansions in Europe

For the last five years, the European chemicals industry has faced uncertainty, with some financiers referring to the European economy as ‘structurally damaged’. Yet, despite previous announcements of closures of European petrochemicals plants, for many companies, 2017 was better-than-expected.

This infographic and market insight piece by European News Editor, Jonathan Lopez, represents the new plant capacity and expansions for the European petrochemicals market in years to come.

 



 

Going, Going, Groningen...

Going, Going, Groningen...

Production from Europe’s largest onshore gas field – Groningen – was thrust into the spotlight in early January following a major gas extraction-related earthquake.

Download this market insight by senior market reporter, Alex Thackrah, to understand what the impact of the reduced Groningen output could be for the Dutch TTF hub - Europe’s most liquid gas market.

Blockchain's Impact on Energy Trading

Blockchain's Impact on Energy Trading

The blockchain hype train arrived in the traded commodity space in a big way during 2017, with its potential for disruption jumped on by some of the biggest wholesale traders.

Download this market insight by our ICIS editors to understand just how realistic is it to expect a major disruption in the short term for energy trading.

US polyethylene oversupply could have mixed impact in Latin America

US polyethylene oversupply could have mixed impact in Latin America

New polyethylene (PE) production coming online in the US Gulf in the first quarter of 2018 could bring oversupply of product in Latin America, but the impact on each country will be different, considering that the regional economies are on different stages of development and have different import tariffs.

Download the ICIS outlook article by editor-in-chief George Martin

 



 

US propylene production set to expand in 2018

US propylene production set to expand in 2018

With the start-up of new propane dehydrogenation (PDH) unit and several crackers, propylene capacity in the US is set to expand in 2018, while downstream capacity remains steady.

Find out more about the US propylene market in the latest ICIS outlook article written by markets editor Jessie Waldheim.

Asia PP and PE Forecast Webinar

Asia PP and PE Forecast Webinar

Join ICIS in this free webinar which provides an overview of the trading activities for Asian polyolefins, a forecast of how the Asia markets will evolve in terms of pricing and margins, as well as a supply and demand outlook in 2018.

Katherine Sale reports on the MMA Outlook for 2018

Katherine Sale reports on the MMA Outlook for 2018

The global methyl methacrylate (MMA) market is bracing itself for further disruptions in 2018 after 2017 left prices soaring, amid higher demand worldwide and production problems.

Read the Market Outlook to see the areas of opportunity and growth for MMA in 2018.

 



 

Market Insight: Mexican state companies to launch new LNG import project

Market Insight: Mexican state companies to launch new LNG import project

Despite the ongoing import pipeline capacity build out from the US, Mexico’s natural gas demand shows no signs of abating. In a bid to stabilise the supply picture in the country’s Southeast, state companies CFE and Pemex are now eyeing LNG as a temporary solution until new pipeline infrastructure comes online.

Tightness in US benzene supply may ease in q1

Tightness in US benzene supply may ease in q1

US benzene supply concerns may see some easing in the first quarter of 2018, following a strong rise in prices during the fourth quarter of 2017, driven by the prompt supply shortages.

Zachary Moore, deputy managing editor, details in this ICIS outlook articles what to expect from the US benzene market in 2018.

US PVC bullish in new year on rising demand

US PVC bullish in new year on rising demand

The US polyvinyl chloride (PVC) market anticipates a strong year in 2018, on the rising demand to repair and rebuild the damages from the three Category 4 hurricanes that made landfall in the US in 2017 and a series of wildfires that have consumed nearly 10,000 homes and other structures in California.

In this ICIS outlook article, senior editor Bill Bowen discusses the factors that will contribute to the PVC demand in the US.

 



 

Outlook: Increasing US BD supply putting pressure on sellers

Outlook: Increasing US BD supply putting pressure on sellers

Domestic supply of butadiene (BD) in 2018 is expected to increase on the start-up of several new crackers, putting pressure on domestic BD producers to increase their market share.

In this ICIS outlook article, senior editor John Dietrich examines the effects of the increased US domestic supply on the global BD market.

Outlook: US fatty alcohols could see supply pinch

Outlook: US fatty alcohols could see supply pinch

The US fatty alcohol market in 2018 could see supply pose as much a driver as feedstocks, a shift from the upstream feedstock volatility that dominated 2017.

Download the outlook article by senior editor Judith Taylor as she discusses what else is in store for the US fatty alcohols market.

Outlook: America’s base oil industry moves into increasing Group III use

Outlook: America’s base oil industry moves into increasing Group III use

The Americas base oil industry is moving strongly into Group III base stock use in 2018 as new vehicle engines will require more of the light viscosity oils.

Based upon this growing need for light viscosity base oils, 2018 will see additional Group III enter the Americas base oil market in both production and commercial presence.

Senior editor, Judith Taylor provides a glimpse of what is expected in the Americas base oils market in this latest outlook piece.

 



 

US isocyanate buyers are hoping to see improved supply conditions in 2018

US isocyanate buyers are hoping to see improved supply conditions in 2018

US isocyanate buyers are hoping to see improved supply conditions in 2018, after both methyl di-p-phenylene and toluene di-isocyanate (TDI) markets saw significant price increases over the course of 2017, driven by persistent supply tightness.

In this ICIS outlook article, editor Zachary Moore discusses supply conditions in the isocyanates market and what to expect in 2018.

White paper: Post-2020 reform - status quo or seismic shift?

White paper: Post-2020 reform - status quo or seismic shift?

The Post-2020 reform sets the framework of the EU carbon market from 2021-2030. It contains several important provisions that are likely to have an impact on the market as early as 2018.

European polymers calmer at year-end but PE imports promise disruption

European polymers calmer at year-end but PE imports promise disruption

European polyethylene (PE) and polypropylene (PP) players are set to close 2017 in calmer waters, after nervous sentiment caused by cracker shutdowns at the beginning of the year.

But will this sentiment be short-lived?

Linda Naylor reports on the strength of the economy for PP and PE markets.

 



 

Winds of change in the polyolefins market

Winds of change in the polyolefins market

Significant changes can be expected in the global polyolefins market in 2018.

In North America, all eyes are on the long-term impact of Hurricane Harvey on supplies, while in Asia, the success or otherwise of Chi­na’s economic reforms will have a huge bearing on consumption. In Europe, supply and demand are driving the market, which is expected to remain healthy into 2018.

ICIS Webinar: Welcome to the WCI: Why Ontario's inclusion may change the California-Quebec outlook

ICIS Webinar: Welcome to the WCI: Why Ontario's inclusion may change the California-Quebec outlook

Ontario’s planned linkage with the California-Quebec cap-and-trade program in January 2018 will have short and long-term impacts for the economy-wide carbon program. ICIS analysts will discuss how the Canadian province’s entrance can have tangible impacts on California-Quebec counterparties and how the existing program will impact Ontario entities joining for the first time.

How temperature within the UK and France has an effect on energy demand

How temperature within the UK and France has an effect on energy demand

ICIS analysis has found that an average daily temperature of below 9°C in the UK and France is the tipping point as to where wholesale power and gas prices have started to rise over the last three years.

This infographic shows how cooler temperatures impact energy demand in the UK and France, and the effect they have on pricing.

 



 

Mounting uncertainty over French nuclear supply

Mounting uncertainty over French nuclear supply

France's nuclear fleets have been scrutinised by regulators this year and last over safety issues. Initial schedules to bring the plants back online have not been kept to as shown in this latest infographic by ICIS.

Gas projects in southeast Europe and Turkey

Gas projects in southeast Europe and Turkey

Turkey and southeast European countries have been struggling to diversify their natural gas resources and supply routes. Over the years, numerous projects have been initiated – but many have fallen through either due to lack of commercial viability, complex regional politics or changing global conditions.

View the latest infographic by ICIS to see which projects are approaching their commissioning date

Free Download: Asia MTBE Trade Flow (2015-2017)

Asia MTBE Trade Flow (2015-2017)

ICIS produced a free infographic providing a complete view of the key exporters and a comparative view of trade flows in the Asian MTBE markets from 2015-2017. Download this free resource now to get a glimpse of the likely direction for 2018.

 



 

Infographic: US butadiene: the potential for growing supply

Infographic: US butadiene: the potential for growing supply

In this ICIS infographic, ICIS takes a look at how much additional BD production is possible if all upcoming ethylene projects are built.

China Natural Gas Annual Report

China Natural Gas Annual Report

Identity and assess investment opportunities with the 2017-2018 version of the ICIS China Natural Gas Annual Report.

With the upcoming version of the ICIS China Natural Gas Annual Report, you are guaranteed the most accurate data and insights needed to identify and assess investment opportunities in China, by gaining access to a 2017 market overview, as well as a supply and demand forecast for 2018–2022.

Market Insight: Tight supply to continue for most fertilizer products in q4 as demand remains steady

Market Insight: Tight supply to continue for most fertilizer products in q4 as demand remains steady

In this market insight, the ICIS fertilizer team takes a look at the supply-demand scenario for the final three months of the year and the main developments that are expected to affect all products in the fourth quarter of 2017.

 



 

NEW LAUNCH - China Oil and Refinery Annual Reports

China Oil and Refinery Annual Reports

Keeping up with China’s fast-moving oil and refining sector, which has limited transparency, may remain challenging. Will the strong Chinese appetite for imported crude continue in the coming years and how will independent refineries adapt with the increasingly competitive Chinese refinery industry?

Gain a complete view of China’s oil and refining industry with the latest edition of our annual reports. Access unrivalled data and analysis for the world’s top crude oil importer, ensuring you have the information you need for your investment and commercial strategies.

European Energy Market Winter Outlook 2017

European Energy Market Winter Outlook 2017

While important lessons were learnt at the beginning of this year when unprecedented price spikes hit energy markets, some of the issues that allowed the price spikes to occur have cropped up again.

Will the European energy markets pull through this winter unscathed?

European energy traders face a mixed standpoint as described in the ICIS European Energy Market Winter Outlook 2017, download your copy to find out more.

Market Insight: Europe PE prices lower for November

Market Insight: Europe PE prices lower for November

European PE buyers have been able to achieve lower prices in November, despite higher upstream naphtha costs. As producers’ margins are compromised, can this trend continue?

Find out in the latest insight piece by ICIS senior editor Linda Naylor.

 



 

New Report-  ICIS Methanol Global Price Forecast Report

ICIS Methanol Global Price Forecast Report

ICIS has launched a global methanol price forecast report with a rolling 6-month price forecast and market outlook, covering trade balances, analysis and a review of trading activity. The report includes ex-tank and ex-works China, CFR China, southeast Asia and US contract prices to help you understand where the methanol markets are headed, and to know the best time to trade.

Market Insight: The Irish integrated single electricity market (I-SEM)

Market Insight: The Irish integrated single electricity market (I-SEM)

The new integrated single electricity market (I-SEM) – which is due to go live in May 2018 – will allow trading over a greatly increased number of delivery periods, including a balancing market, day-ahead and a forward market.

In this market insight, ICIS sheds light on the full redesign of the all-island Irish power market, which is taking place to ensure it adheres to EU legislation.

Rhine river transport challenges the petrochemical industry

Rhine river transport challenges the petrochemical industry

The Rhine waterways are a vital transport link for the petrochemical industry, with many companies situated near its banks. Periods of low water have occurred with increasing frequency in recent years, causing disruption and expense.

Is the Rhine going to become increasingly problematic to use for business in the coming years? Find out with this in depth ICIS insight into the future of the Rhine water levels and expectations for climate developments.

 



 

ICIS Infographic: Major Phosphates supply/demand dynamics in Asia-Pacific

ICIS Infographic: Major Phosphates supply/demand dynamics in Asia-Pacific

The phosphates market has grown in the Asia-Pacific region in 2017, with new plants coming onstream and exports rising out of major regions.

In this infographic, ICIS takes a look at the major producers in the region, hot spots of demand and new projects that will affect the market in the next three years.

Infographic: 4M power markets in central Europe see increased liquidity amid volatile prices

Infographic: 4M power markets

The Czech Republic, Hungary, Slovakia and Romania make up the 4M market coupling project. These nations have experienced an increase in traded volume over the last few months compared to last year. In Romania, however, a surge in January liquidity was followed by a sharp drop in traded volume.

This infographic shows the year-on-year changes in OTC traded volume across the 4M markets and the reasons for these movements.

Your EPCA 2017 Round-up

EPCA 2017 brochure

The 51st European Petrochemical Association (EPCA) in Berlin was bursting with optimism and excitement. Petrochemical producers in Europe are facing continuing pressures within the modern economy to keep up with demand however given the economic backdrop, competitiveness has increased.

Our insight editor Nigel Davis reports on the event in this summary.

 



 

Insight: Europe PP and PE buyers facing hikes

Insight: Europe PP and PE buyers facing hikes

This latest insight piece, by ICIS Senior Editor Linda Naylor, looks at how Polyethylene (PE) and polypropylene (PP) buyers in Europe are facing higher prices for October, as new capacity comes on stream in North America.

Free download: Polyurethane Presentation Slides

Polyurethane Presentation Slides

There has been much concern over polyurethane supply within the Asian markets as Sadara announced their plant capacity expansions. How will this affect global trade flows for the polyurethane chain?

ICIS presented a paper on impact of these recent developments and changes in commodities within the polyurethane chain, with a short-term outlook for Q4 2017.

Free download: Polyolefins Presentation Slides

Polyolefins Presentation Slides

The Asian polyolefins sector is expected to experience lengthened supply due to additional global capacities for both polyethylene (PE) and polypropylene (PP) markets. Furthermore, the industry has also seen changes in government policies, which might change trading dynamics due to capacity expansions in the near future.

Download the ICIS presentation that analyses the impact of increasing polyolefins capacities in China, southeast Asia and Turkey, along with a short-term outlook for Q4 2017.

 



 

Aromatics head into calmer waters

Aromatics head into calmer waters

The global aromatics market has been through a turbulent 2017, with supply disruptions, inventory fluctuations and unusual trade patterns. This article gives an outlook for 2018, and details why the authors expect calmer waters ahead.

Download: Insights on Chinese oil supply and demand

Insights on Chinese oil supply and demand

China has overtaken the US as the world’s top crude importer. At the same time, as more independent refiners are starting up in China, there is now a supply glut in distillates, resulting in China now exporting.

Access a presentation covering insights on the impact of China’s rising oil demand and surplus on international market players.

Chemical Profile: Middle East MDI - better understand the technology, uses and price trends

Chemical Profile: Middle East MDI - better understand the technology, uses and price trends

It has been a rollercoaster year for prices of polymeric methyl di-p-phenylene isocyanate (MDI) and more can be expected before the year ends.

This Chemical Profile for Middle East MDI provides some details on the technology and uses of MDI, and also touches on price trends and some of the factors behind recent price moves.

 



 

ICIS Carbon Markets Almanac 2017

ICIS Carbon Markets Almanac 2017

The ICIS Carbon Markets Almanac provides a top-level view of global efforts to combat climate change with cap-and-trade systems. For each of the different schemes worldwide, it highlights key design characteristics and includes spotlight articles discussing specific system features.

Our overarching breakout articles for 2017 include an analysis of the post-2020 carbon world and how we will get there, a discussion of President Trump’s impact on carbon trading, as well as a study on the Brexit and its effect on EU carbon and power markets.

Market Insight: Examining major factors driving the US benzene market

US benzene market

This Market Insight will examine some of the key factors for benzene demand in the US. The outlook for exports of styrene, a key benzene derivative, will be examined along with shifting patterns of international trade. The paper will also examine areas where derivative capacity may grow, while also touching on the economics of on-purpose benzene production.

ICIS Webinar: What does the 2016 review changes mean for the RGGI market?

ICIS Webinar: What does the 2016 review changes mean for the RGGI market?

The Regional Greenhouse Gas Initiative (RGGI) released a draft of potential program changes stemming from the 2016 review process at the end of August 2017. This webinar will dive into what the supply-side dynamics might look like in the future before discussing how these changes could impact market participant behavior. Finally, we will explain how post-2020 structure could influence the price of allowances.

 



 

Infographic: Europe Ethylene, Propylene H1 2017 Review

Infographic: Europe Ethylene, Propylene H1 2017 Review

Pricing volatility looks set to continue as new ethane-based cracker and derivatives capacity comes on line in the US from the second half of 2017. This can be challenging for Europe’s olefins as they become more susceptible to global market developments.

This ICIS infographic reviews key developments in the European olefins landscape during the first half of 2017, as well as production and trade data for ethylene, and polymer grade propylene (PGP) spot price evolution.

Infographic: Europe butadiene H1 2017 review – volatility returns to the global market

Infographic: Europe butadiene H1 2017 review – volatility returns to the global market

The first half of 2017 was characterised by three digit swings in the monthly contract reference price with a record adjustment in February when it was agreed up by 49%. Asian demand had strengthened partly on the back of demand from the Chinese auto industry in particular because of expiring tax incentives.

This and the realisation that the concentration of planned cracker and BD unit turnarounds in Europe would likely heavily constrain Europe's supply, sent prices soaring.

Infographic: New Middle East MMA capacity approaches after lengthy global supply shortage

Infographic: New Middle East MMA capacity approaches after lengthy global supply shortage

New methyl methacrylate (MMA) capacity in the Middle East is approaching, and with it comes the potential turning point in the global MMA market, after a prolonged supply shortage.

This ICIS infographic examines the new capacity in the Middle East, the impact on trade flows, and what further challenges the market may face in 2017.