Thailand Petrochemicals Report

Published 29 June 2015

  • 80 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
$1,295.00
Thailand Petrochemicals Report

Although Thailand is making a solid turnaround from a politically turbulent 2014, BMI's latest Thailand Petrochemicals Report warns that some export segments - such as the automotive industry - face slower demand that will directly impact the petrochemicals sector. On the upside, the domestic construction industry is rebounding in line with an overall upturn in the economy, which should help to offset some of the effects of slower export growth.

In 2014, the construction and automotive industries witnessed a sharp decline in activity, but growth is expected in 2015 with construction rising by 2.4% and automotive production growing 4.2%, which should stimulate domestic petrochemicals consumption. However, softer demand for vehicles in South East Asia will be a drag on overall petrochemicals output growth as the Thai automotive industry is a major consumer of moulded plastic and rubber products.

The key to Thai petrochemicals output growth in the year ahead will be exports, as the industry is essentially built to serve external markets. In this context, the narrowing differential between ethane and naphtha costs will disadvantage Thailand's largely ethane-based petrochemicals production. However, the highly-integrated and therefore cost efficient industry should still have some advantage over older naphtha-based plants in East Asia.

Key Developments

  • In 2015, petrochemicals expansion in Thailand will be concentrated in a few smaller projects, such as PTTGC's expansion of paraxylene (PX) capacity at Map Ta Phut by 100,000 tonnes per annum (tpa). It has also firmed up a plan to boost its ethylene oxide (EO) output by 90,000tpa by 2015. In 2016, it could expand its biggest cracker, which has a 1mn tpa ethylene capacity. Meanwhile, Indorama is expanding its propylene production capacity by 260,000tpa to 710,000tpa, with a new plant due to come on stream in 2015. Siam Cement Group (SCG) is planning to boost its overall low-density polyethylene (LDPE) production...

BMI Industry View
7
SWOT
8
Political
9
Economic
10
Operational Risk
11
Industry Forecast
13
Table: Thailand's Petrochemicals Sector, 2012-2019 ('000tpa, unless otherwise stated)
15
Macroeconomic Forecasts
16
Economic Analysis
16
Table: Economic Activity (Thailand 2010-2019)
20
Industry Risk/Reward Ratings
21
Asia Petrochemicals Risk/Reward Index
21
Table: Asia Petrochemicals Risk/Reward Index Ranking
25
Thailand Petrochemicals Risk/Reward Index
25
Market Overview
27
Industry Trends And Developments
31
Projects
31
Refining
32
Investment In Vietnam
33
Investment In Indonesia
35
Investment In Nigeria
35
Company Profile
36
Indorama Ventures
36
Integrated Refinery and Petrochemicals Company (IRPC)
39
Table: IRPC Financial results (THBmn)
41
PTT Global Chemical
42
Table: PTTGC Financial Results (THBmn)
46
Siam Cement Group (SCG)
47
Table: Siam Cement Group (THBmn)
49
Regional Overview
50
Asia Overview
50
Cracker Margins Improve
50
2015 outlook: trouble for mature producers
51
The coming surge: 2015 and 2016
52
China and India will dominate Asia demand
53
Rapid Growth In South East Asia
56
Global Industry Overview
59
Project Cancellation: the Impact of US Expansion and Low Oil Prices
59
Outlook for 2015: Falling prices
61
Medium-term outlook
62
China versus the US: feedstock wars
63
Global - Crude Oil, Refined Fuels And Natural Gas Prices, 10-year Forecasts
67
Table: Energy Price Forecasts, 2013-2018
67
Table: Energy Price Forecasts, 2019-2024 ( Global 2019-2024)
68
Demographic Forecast
70
Table: Population Headline Indicators (Thailand 1990-2025)
71
Table: Key Population Ratios (Thailand 1990-2025)
71
Table: Urban/Rural Population & Life Expectancy (Thailand 1990-2025)
72
Table: Population By Age Group (Thailand 1990-2025)
72
Table: Population By Age Group % (Thailand 1990-2025)
73
Glossary
75
Table: Glossary Of Petrochemicals Terms
75
Methodology
76
Industry Forecast Methodology
76
Risk/Reward Index Methodology
78
Table: Petrochemicals Risk/Reward Index Indicators
79
Table: Weighting Of Indicators
80

The Thailand 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 Thailand Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Thai 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 Thai petrochemicals market.
  • Target business opportunities and risks in the Thai petrochemicals sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Thailand.
  • 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.

secure
Benefit from discounts when you add multiple products to your basket
2 Products SAVE 10%
3 Products SAVE 15%
4 Products SAVE 20%
5 Products SAVE 25%
6 Products SAVE 30%
7 - 20 Products SAVE 35%
21 Products or more SAVE 40%