Petrochemicals Annual Review November 2009
CRISIL Ltd.
December 1, 2009 296 Pages - SKU: CRSL2517287
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The petrochemicals cycle - trough to continue until 2010 year end
The petrochemicals industry is expected to witness a massive expansion in capacity over the next 5 years, with nearly 26-27 million tonnes of ethylene capacity likely to be added globally. The Middle East will account for a major share (51 per cent) of the planned additions. CRISIL Research expects low cost ethylene capacities in this region to commence operations by 2010. North America and Western Europe, conversely, are expected to lose their share in global capacity, primarily due to higher feedstock costs. Consequently, these regions are likely to witness plant shut downs (old and inefficient units) of around 10 million tonnes. As a result, the Middle East will emerge as a supply hub by 2010 or 2011, replacing the dominance of North America and Western Europe over the petrochemicals export market. Consequently, operating rates of petrochemical players are expected to come down to 80 per cent in 2009 and 2010 from an average 87 per cent in 2008. We expect the trough to prevail throughout the year, as most planned capacities will come on stream in 2010.
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- Part A: Middle East to decide the fate of the petrochemical industry
- Executive summary
- Huge ethylene capacity addition over the 2009 - 2013 period
- Middle East witnesses rapid expansion in petrochemicals production
- Trough to continue until 2010 year end
- Domestic polymer demand to witness strong growth
- Products: Basic petrochemicals
- Products: Polymers
- Part B: State of the industry
- Industry overview
- Cost competitiveness
- Technology
- Feedstock options
- Products: Basic petrochemicals
- Products: Polymers
- Players and industry structure
- Part C: Industry statistics
- Industry overview
- Products: Basic petrochemicals
- Products: Polymers
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