Colombia Petrochemicals Report

Published 26 November 2014

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Colombia Petrochemicals Report

BMI View: In the wake of the stagnant growth rates seen in Colombian petrochemicals industry over 2014, reflecting poor domestic market performance , we expect a moderate improvement over 2015 due to strong overall economic growth . However we caution that the rate of petrochemicals consumption will see modest growth .

Growth in petrochemicals consuming industries such as the automotive and construction sectors has been strong, but has not benefitted the Colombian petrochemicals market. The automotive industry depends on imported kits and parts, which limits the amount of input from locally produced polymer and synthetic rubber products. Meanwhile, the construction industry has been largely buoyed up by a road infrastructure programme, which requires far less polymer use, unlike residential housing which utilises polymer pipes and other extruded materials.

  • The current investment drive is towards expanding the refining sector. Refining capacity is expected to rise from 335,850 barrels per day (b/d) in 2014 to 420,850b/d in 2015 as a result of updates to the Barrancabermeja and Reficar facilities.

  • Potential naphtha provided by extra capacity may not justify cracker expansion, but could improve local propylene supply, thereby justifying an increase in polypropylene (PP) capacity.

  • No petrochemicals capacity expansion is expected in the years ahead. Ecopetrol has mooted a number of petrochemicals expansions in recent years, but without any commitment. It has, in the past, proposed a new cracker with associated polyethylene (PE) and PP near Cartagena, but no progress has been made.

  • In 2014 Colombia's petrochemicals facilities included capacities of 120,000 tonnes per annum (tpa) ethylene, 45,000tpa benzene, 20,000tpa toluene, 35,000tpa xylenes, 45,000tpa polyethylene terepthalate (PET), 60,000tpa low density polyethyelen (LDPE), 103,000tpa polystyrene (PS), 400,000tpa poly vinyl chloride (PVC), 500,000tpa PP, 115,000tpa ammonia and 185,000tpa urea.

  • ...
BMI Industry View
7
SWOT
8
Political
10
Economic
11
Industry Forecast
12
Table: Colombia's Petrochemicals Sector, 2011-2019 ('000tpa)
16
Macroeconomic Forecasts
17
Economic Analysis
17
Table: GDP By Expenditure (Colombia 2011-2018)
23
Industry Risk Reward Ratings
25
Americas Petrochemicals Risk/Reward Index
25
Divergence: Large Markets Take The Lead
26
Table: Americas Petrochemicals Risk/Reward Index (Scores Out Of 100)
28
Colombia Petrochemicals Risk/Reward Ratings
29
Market Overview
31
Table: Colombia's Petrochemicals Facilities
33
Industry Trends And Developments
34
Company Profile
36
Empresa Colombiana de Petroleos (Ecopetrol)
36
Polipropileno del Caribe (Propilco)
41
Regional Overview
43
Americas Overview
43
Table: Planned PE Projects In North America, 2014-2019
47
Global Industry Overview
49
China versus the US: feedstock wars
50
Table: Top 10 Ethylene Producers, 2013
55
Demographic Forecast
57
Table: Population Headline Indicators (Colombia 1990-2025)
58
Table: Key Population Ratios (Colombia 1990-2025)
58
Table: Urban/Rural Population & Life Expectancy (Colombia 1990-2025)
59
Table: Population By Age Group (Colombia 1990-2025)
59
Table: Population By Age Group % (Colombia 1990-2025)
60
Glossary
62
Table: Glossary Of Petrochemicals Terms
62
Methodology
63
Industry Forecast Methodology
63
Risk/Reward Index Methodology
65
Table: Petrochemicals Risk/Reward Index Indicators
66
Table: Weighting Of Indicators
67

The Colombia Petrochemicals Report has been researched at source, and features BMI Research'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 Colombia Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Colombian 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 Colombian petrochemicals market.
  • Target business opportunities and risks in the Colombian petrochemicals sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Colombia.
  • 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 the petrochemicals markets, regulatory changes, major investments, projects and company developments.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the petrochemicals sector and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (2009-2013) and forecasts to end-2019 for 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 (USD/bbl) at major global energy trading hubs.
  • Economic: Nominal GDP (USDbn), real GDP growth (%), GDP per capita (USD), population (mn), unemployment (%), exchange rate (against USD).

BMI’s Petrochemicals Risk Reward Index

BMI’s Risk Reward Indices provide investors (both corporate and financial) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

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.

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.

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.

Global & Regional Market Overview

Analysis of the key trends driving the global industry, including worldwide output/capacity and demand analysis across ethylene, polyethylene, polyvinyl chloride, polystyrene, polyethylene terephthalate and polypropylene. The regional analysis looks at the implications of local and global trends on specific company activity.

Sub-sectors covered by the Petrochemicals Reports include:

Oil & Gas, Oil Refining, Olefins (ethylene, propylene), Polyolefins (polyethylene, polypropylene), Polyvinyl Chloride, Polystyrene

Please note – not all country Reports cover all sub-sectors – see website for details.

Sources

The Petrochemicals Market Reports are based on a network of primary sources, such as multilateral organisations (ACC, APLA, Cefi c, ICCA, ICMA), national chambers of commerce and industry, national statistical offi ces, government ministries and central banks, and multinational companies.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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