(MENAFNEditorial)
French petrochemicals output growth will slow in 2015 following a relatively strong year in 2014 due to poorer household consumption and sluggish export markets according to BMI's latest France Petrochemicals Report. While Total's closure of 400000tpa of ethylene capacity in 2015 is regarded as the final major plant closure over the medium-term the reduction of capacity since the 2008 financial crisis means that in volume terms the industry is unlikely to return to its previous strength.
After a stagnation of activity in 2013 European chemical production grew by 1.9% in 2014 with output set to rise by a further 2.0% in 2015. Growth slowed over 2014 reflecting a weak economic recovery and a weakening in demand from consumer industries. However the structure of growth is changing with organic chemicals - including polymers and aromatics - growing very little in 2015 while inorganics take prominence.
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Factors affecting the performance of the industry include the construction and automotive sectors. Construction is set for an eighth consecutive year of contraction in 2015 before going into growth territory while the automotive industry is expected to see only modest growth over the medium-term. The export market for petrochemicals will therefore be crucial but BMI expects sluggish external demand over the year.
* Total's closure of ethylene and propylene operations at its petrochemicals plant in Carling will remove 400000tpa of ethylene capacity in 2015. Total has announced plans to spend EUR160mn on polymer production upgrades at the site before 2016 with the creation of a new thermoplastics unit to produce automotive plastics a capacity expansion for polystyrene (PS) production and upgrades to the polyethylene (PE) production unit to increase yields of advanced plastics.
* Other French producers are likely to shift from high-volume basic chemicals and petrochemicals to high-value niche products in an effort to improve their competitive edge in the face...
Report Table of Contents:
BMI Industry View
SWOT
Political
Economic
Business Environment
Industry Forecast
Table: France's Chemicals And Petrochemicals Sector 2010-2017 ('000tpa unless otherwise stated)
Macroeconomic Forecasts
Economic Analysis
Industry Risk/Reward Ratings
Western Europe Petrochemicals Risk/Reward Ratings
Risk Remains The Main Determinant Of Ratings
Germany: The Undisputed Leader
France: Vulnerable To A Future Downgrade
Table: Western Europe Power Risk/Reward Ratings (Scores Out Of 100)
Industry Risk Reward Ratings
Market Overview
Industry Trends And Developments
Company Profile
Arkema
Total
Regional Overview
Europe Overview
Short-term Outlook: Competitiveness And Pricing
Looking Beyond Europe
Shale Gas Boom To Change European Petrochemicals Outlook-
Commonwealth Of Independent States' Capacity Growth
Global Industry Overview
Global Petrochemicals Overview
Change In Feedstock But Not In Market Cycle
Polymers Heading On Different Trajectories
Global Oil Products Price Outlook
Table: BMI's Oil Price Forecasts Average Price (US$/bbl)
Table: BMI's Refined Products Forecasts
Refiners: Is The Party Over-
Jet Fuel: Middle East & Africa Remain Positive As Global Air Traffic Slumps
Table: Total Air Freight & Passenger Volumes
Gasoline And Diesel: Demand Destruction Takes A Toll
Naphtha: Asia Stays Afloat While Europe Sinks
Bunker Fuels: Trans-Pacific Route Rebound Amid High Prices
Demographic Forecast
Table: France's Population By Age Group 1990-2020 ('000)
Table: France's Population By Age Group 1990-2020 (% of total)
Table: France's Key Population Ratios 1990-2020
Table: France's Rural And Urban Population 1990-2020
Glossary
Table: Glossary of Petrochemicals Terms
Methodology
Chemicals And Petrochemicals Industry
Cross Checks
Risk/Reward Ratings
Table: Petrochemicals Risk/Reward Indicators And Rationale
Weighting
Table: Weighting Of Indicators
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