Egypt Petrochemicals Report Q4 2014 - New Report Available

In recent years, political instability and uncertainty have impeded prospects for growth in Egypt's petrochemicals industry. However, increasing stability and the size of upstream resources are encouraging investment in the sector. Nevertheless, we expect delays to investment projects as well as problems in tapping gas resources.

Gas shortages are plaguing the petrochemicals and chemical fertiliser sectors. Egypt needs around 500,000 tonnes per annum (tpa) of ethylene in order to sustain downstream production, but in 2014 local production was well below this level. In 2014, Sidi Kerir Petrochemicals was targeting total petrochemicals output of 225,000 tonnes, down 7.4% from 243,000 tonnes in 2013. It hopes to increase its revenues by about 18% between 2014 and 2017, in part by increasing its output capacity of polyethylene (PE) by 40,000-50,000tpa to around 270,000tpa, according to reports in Q314.

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The main generator of petrochemicals consumption will be export-oriented industries, such as the automotive sector which consumes an array of polymers and synthetic rubbers and is set for a strong recovery following years of steep declines in 2012 and 2013. Automotive production was set to rise 15.3% in 2014 and is expected to increase by an average of 10% per annum over the following four years. Total output from the automotive sector, in terms of units, is forecast to rise 76% in 2013 to 2018, up from 56% growth we forecast previously.

A lack of new foreign investment could affect the start-up of new companies, and consequently the country's manufacturing sector and polyolefins demand. Meanwhile, the central bank's poor standing will also present difficulties for converters when they attempt to open letters of credit recognised by banks abroad, which are necessary to purchase PE and polypropylene (PP) for import. Such difficulties could have the effect of supporting domestic production.

Other schemes that could boost downstream developments, bringing...

The Egypt 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 Egypt Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Egyptian 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 Egyptian petrochemicals market.

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