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MENAFN Press - 12/11/2012

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(MENAFN Press) Dubai, United Arab Emirates - Monday, November 12th 2012

Markets are shifting eastward: The Chinese petrochemical products market is set to grow by around 6% a year by 2015 “ the Middle East by as much as 11%.

New suppliers from the Gulf States and Asia have captured market share thanks to significant price and transport advantages.

Growing pressure on margins across the European petrochemical industry.

Suppliers from Asia and the Gulf States face the challenge of developing know-how in efficiency.

European and US players must realign their business models to offset competitive disadvantages.

Rising oil and gas prices, growing demand from Asia and other emerging economies and strong global competition are presenting petrochemical companies with new challenges. Long-term reliable access to feedstock, technologies and markets is becoming increasingly important. These factors are critical to a company's ability to respond to changing market demands. Companies have to review their strategic direction and realign their business models. To remain successful going forward, they can strengthen their market position in three ways: expansion, acquisition or cooperation. The new study on "Global petrochemicals “ Who is really benefitting from the growth in the new world?" by Roland Berger Strategy Consultants analyzes the current situation across the petrochemical industry and outlines possible solutions.

"Strong economic growth and the rise of the middle classes in many emerging economies is shifting the focus of global demand for petrochemical products eastward," says Jaap Kalkman, a Partner with Roland Berger Strategy Consultants.

New markets and technologies central to petrochemicals

In the case of China, demand for petrochemical products is forecast to rise through 2015 at around 6% a year, and in the Middle East by as much as 11%. By contrast, annual growth rates in Europe and the US will stick at around 1%. Whereas European and US petrochemical companies enjoyed a market share of around 62% in the 1980s, it had already fallen to just 30% in 2010.


About Roland Berger Strategy Consultants
Founded in 1967, is one of the world's leading strategy consultancies. With 2,700 employees working in 51 offices in 36 countries worldwide, we have successful operations in all major international markets. The strategy consultancy is an independent partnership owned exclusively by about 240 Partners.

 






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