New market study, "China Petrochemicals Report Q4 2014", has been published

From: Fast Market Research, Inc.
Published: Wed Nov 05 2014

While Chinese petrochemicals output has grown in recent months, BMI's latest China Petrochemicals Report expects market conditions to worsen in key segments as the economy slows amid falling growth in consumer demand.

In the first seven months of 2014, ethylene output grew 6.2% year-on-year (y-o-y) to 9.96mn tonnes while plastics in primary forms rose 11.8% y-o-y to 39.74mn tonnes as the production of plastic products increased 8.5% to 41.78mn tonnes. This compares to an overall manufacturing growth rate of 9.9% over the January-July period. Meanwhile, Chinese Customs reports that in H114, polymer imports climbed around 11% from H113 to 8.63mn tonnes.

BMI believes much of the increase in petrochemicals and plastics output is attributed to rising capacity utilisation as new plants come on stream, although demand conditions also appear to be supportive of growth. Nevertheless, recovery is still tenuous and the local petrochemicals market is bound to face increasing pressure from a slowing economy.

Full Report Details at

* China has been building naphtha-based ethylene capacity over the years to reduce its heavy reliance on petrochemical imports. However, weakening demand growth, rising local opposition due to environmental issues and rising competition from low-cost ethane-fed producers is seeing long-term investment clawed back. By 2018, China should have reached its target of 50% self-sufficiency in ethylene. A tail-off in investment as the US becomes the focus of cracker capacity growth could lead to a decline in self-sufficiency after 2018 and an influx of product from the US and the Middle East.
* Under the five-year plan, China is targeting to increase its self-sufficiency regarding ethylene and derivatives to more than 64% by 2015. Growing use of CTO (coal to olefins) technology, has led to decline in polyvinyl chloride (PVC) imports into China with coal-based PVC production rising to 75% of the total production. In addition, the country's polyethylene industry will remain the...

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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