(MENAFNEditorial)
The Philippines petrochemicals industry fell behind overall manufacturing growth in 2014 but is expected to recover in 2015 as the automotive and construction sectors post stronger growth rates and local producer JG Summit Petrochemicals Corporation (JGSPC) ramps up capacity utilisation at its new cracker complex according to BMI's latest Philippines Petrochemicals Report.
In the first nine months of 2014 the value of chemicals output fell 16.8% while plastic fell 4.5% and rubber grew 17.7%. Although performance was expected to improve as a result of JGSPC's expansion the company's new cracker with 320000tpa ethylene and 190000tpa propylene capacities struggled to come into operation.
Full Report Details at
- http://www.fastmr.com/prod/924250_philippines_petrochemicals_report_q1_2015.aspx?afid=101
Operations were temporarily halted in mid-June 2014 when the facility broke down leading to a big fire. The company was on the third phase of its plant commissioning when the accident occurred. The cracker restarted in early August and ordered 30000 tonnes of naphtha for operations in September as it ramped up production. However by Q414 the cracker was still operating at only 70% of nameplate capacity due to weak domestic petrochemicals demand.
* The Philippines petrochemicals market is set for strong growth in 2015 with the automotive sector stimulating demand for rubber and engineering plastics with 14.5% growth in output while the construction sector raises consumption with real growth of 9.6% increasing demand for polymer products.
* The Bataan Refinery upgrade 2 project is due to come into full operation in Q115 with a new fluid catalytic cracker (FCC) unit which will have a propylene production capacity of 250000tpa. The project will also produce other by-products such as petrochemicals feedstock - particularly propylene - which is to be sold to plastic producers. As a result propylene production will grow by 200%.
* In BMI's Asia Petrochemicals Risk/Reward Index (RRI) the Philippines ranks 11th out of 12 countries scoring 45.7 points unchanged since the...
The Philippines Petrochemicals Report has been researched at source and features Business Monitor International (BMI)'s market assessment and independent forecasts for key petrochemicals sub-sectors. The report also analyses the impact of regulatory changes recent developments and the background macroeconomic outlook and features competitive landscapes comparing companies by products and services sales market share investments projects partners and expansion strategies.
BMI's Philippines Petrochemicals Report provides industry professionals and strategists sector analysts trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Philippine petrochemicals industry.
Key Benefits
* Benchmark BMI's independent petrochemicals industry forecasts to test other views - a key input for successful budgetary and planning in the Philippine petrochemicals market.
* Target business opportunities and risks in the Philippine petrochemicals sector through our reviews of latest industry trends regulatory changes and major deals projects and investments in Philippines.
* Assess the activities strategy and market position of your competitors partners and clients via our Company Profiles (inc. KPIs and latest activity).
Coverage
BMI Industry View
Summary of BMI's key industry forecasts views and trend analysis covering petrochemicals markets regulatory changes major investments projects and company developments.
Market Overview
Structure size and value of the industry sector; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments.
Business Environment Rankings
BMI's Petrochemicals Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (both corporate and financial) in the regional petrochemicals market.
The rankings methodology makes sophisticated use of over 40 industry economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.
Industry Trends & Developments
Evaluation of company and sector-wide developments including key projects (as well as expansion plans) latest company financial details and proposed international ventures.
BMI Industry Forecasts
Historic data series (2009-2012) and forecasts to end-2018 for all key industry and economic indicators supported by explicit assumptions plus analysis of key risks to the main forecasts. Indicators include:
Energy: Oil production (`000 b/d) oil consumption (`000 b/d) net oil exports (`000 b/d) gas production (bcm) gas consumption (bcm) net gas exports (bcm) oil refinery capacity (`000 b/d).
Petrochemicals: Ethylene capacity (`000 tpa) ethylene production (`000 tpa) ethylene consumption (`000 tpa) polyethylene capacity (`000 tpa) polypropylene capacity (`000 tpa) polyvinyl chloride capacity (`000 tpa) polyolefins consumption (`000 tpa).
Oil Products Prices: Price forecasts for all major oil-based products (US$/bbl) at major global energy trading hubs.
Economic: Nominal GDP (US$bn) real GDP growth (%) GDP per capita (US$) population (mn) unemployment (%) exchange rate (against US$).
Company Profiles
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles enabling a full evaluation of recent company performance and future growth prospects.
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