China Petrochemicals Report Q3 2014: New research report available at Fast Market Research

The Chinese petrochemicals industry is set for solid growth in output, but this will be constrained by a slower pace of domestic demand for goods. BMI 's latest China Petrochemicals Report predicts exports will take the lead, although some segments will continue to suffer over-capacity and downstream operations are set to see some closures to adjust supply to demand.

In the year to date, the Chinese petrochemicals industry has seen a slowdown in olefins, while plastics and rubber have reported sustained robust growth. In the first four months of 2014, ethylene production grew 5.6% year-on-year (y-o-y) to 5.63mn tonnes, following 9.1% growth in 2013 when ethylene output reached 16.23mn tonnes. Plastics and rubber production rose 10.2% in the January-April period; in 2013, production of plastics in primary forms rose 3.9%. BMI believes this is mostly the result of cracker production approaching full capacity; in 2013, cracker capacity expanded just 2.5%, less than a third of the rate of output growth.

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The Chinese government is attempting to counter a looming self-sufficiency crisis in olefins and some derivatives with further upstream development, but naphtha-based production is unlikely to be pursued. Instead, the country is planning Coal-To-Olefins (CTO) plants that utilise the country's abundant coal resources. However, there will be limitations on water resources and the threat of environmental pollution will dampen the rate of capacity build-up well below what has been announced to the public sector. As much as 11mn tpa coal/methanol-based capacity has been announced from 2013 to 2020, but only 3.7mn tpa of total capacity has been approved so far by the National Development and Reform Commission (NDRC).

* In spite of a manufacturing slowdown, the automotive sector, which is among the main petrochemicals consuming industries, is set for 9.2% growth in 2014, stimulating growth in PP for car fittings, synthetic rubber for tyres and polyurethane for seating. Our...

The China 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 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.

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