New Report Available: China Petrochemicals Report Q4 2015

A slowdown in Chinese demand will raise market self-sufficiency and reduce imports, according to BMI's latest China Petrochemicals Report. T he Chinese petrochemicals market is faced with a rapidly cooling national property market, which has far-reaching consequences not only for plastics used in construction but to the wider economy. In line with the manufacturing slowdown, the automotive sector, which is among the main petrochemicals consuming industries, is set for lower growth.

China should meet its target of 64% self-sufficiency in ethylene and derivatives in 2015. A key element of this drive is coal-to-olefins technology, which has helped the country leverage its low-cost coal resources to boost feedstock security and competitiveness. As a result, most of its PVC output is now coal-based. Meanwhile, polypropylene and polyethylene import growth is declining and either at or approaching zero.

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BMI estimates ethylene capacity utilisation was 70% in 2014. China's petrochemical industry turnover hit CNY14.5trn (USD2.36trn) in 2014, according to data released by the China Petroleum and Chemical Industry Federation (CPCIF). A slowdown in the Chinese economy and the country's increased self-supply of petrochemicals is likely to continue to reduce exports, impacting on the performance of regional suppliers.

Paraxylene (PX) will remain a segment where supply has failed to keep up with demand. Rapid growth in Chinese polyester production has created an increasing market demand for PX, but PX production capacity cannot meet the demand due to the slowdown of PX development in China.

The key petrochemicals markets - the automotive and construction sectors - are set for slower growth of 5.6% and 6.3% in 2015, which is far below the rates seen in recent years. This will affect consumption of a broad range of petrochemicals products.

The China 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 China Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Chinese 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 Chinese petrochemicals market.
* Target business opportunities and risks in the Chinese petrochemicals sector

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