New Market Research Report: Thailand Petrochemicals Report Q4 2014

Thailand's petrochemicals outlook is clouded by the domestic political crisis and the local market slowdown, but hopes for export-oriented growth to offset slower sales back home are being diminished by slow Chinese growth, warns BMI's latest Thailand Petrochemicals Report.

We cautioned in previous quarterly reports that a prolonged stalemate of the country's precarious political situation would result in enduring weakness in the market and exert a downside risk to the petrochemicals industry. True enough, the volatile situation suggests no meaningful compromise to the ongoing political turmoil and our Country Risk team does not expect the situation to improve significantly over the remainder of the year, which will also result in a weaker growth outlook.

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* Demand for engineering plastics, polyurethanes and rubber will be undermined by a decline of 10.9% year-on-year (y-o-y) in automotive production. However, we have highlighted for some time that domestic production will hold up better than sales as local carmakers increase exports to overseas markets to make up some of the shortfall from the collapse in domestic sales. We see carmakers, which are successfully able to re-orientate more of their domestic production towards export markets, as the most able to ride out the current storm.
* The crisis will limit the growth potential in Thailand's infrastructure and construction sectors, which are also major petrochemicals consumers, particularly in the PVC segment. We are now forecasting the construction sector to contract in real terms by 3.8% in 2014, compared to our previous forecast of 1.9% growth.
* Fresh investment by Thai petrochemicals companies is heading to Vietnam, Indonesia and Nigeria, where producers seek to exploit the local feedstock potential and surging local demand, in contrast to the peaking Thai petrochemicals industry.
* In BMI's Asia Pacific Petrochemicals Risk/Reward Ratings (RRRs), Thailand scores 68.2 points, down 0.5 points since the...

The Thailand Petrochemicals Report has been researched at source, and features Business Monitor International (BMI)'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.

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