Brazil Petrochemicals Report Q1 2015 - New Report Available

The Brazilian petrochemicals industry is struggling to raise its capacity utilisation rates to sustainable levels in the face of fierce competition and declining domestic competitiveness, according to BMI's latest Brazil Petrochemicals report.

Chemicals production fell 4.7% year-on-year (y-o-y) from January to October 2014 with the average capacity utilization standing at 79%, three percentage points down compared to the same period in 2013. In the first 10 months of 2014, domestic sales by local producers fell 3.3% y-o-y while consumption rose 1.4% y-o-y.

Although the real is depreciating, rising production costs and a poor investment climate will continue to erode competitiveness. This along with the soaring costs of construction puts in doubt the Comperj project, which is set to add significant levels of production capacity by 2018.

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Brazil is at the forefront of developments in renewable chemicals in Latin America, due to its plentiful sugarcane feedstock and the logistical organisation of the sector. Brazil's bioplastic volumes are expected to reach USD618mn by 2015, with over 250,000 tonnes consumed domestically. However, this is unlikely to represent a serious challenge to the dominance of petrochemicals in the production of plastics and at least half the increase will be devoted to exports. Latin America's share of global bioplastic production is forecast to exceed 40% by 2015, with Brazil taking up the lion's share of capacity.

* In the medium term, the focus will be on the capacities planned for Comperj, which is set to begin operations in 2018. Capacities will include 1.2mn tpa of ethylene and 880,000tpa propylene capacity feeding units with capacities of 800,000tpa of polyethylene and 850,000tpa polypropylene. In addition, the complex will have capacities of 700,000tpa paraxylene, 160,000tpa of butadiene, 500,000tpa of styrene, 600,000tpa of ethylene glycol (EG), 500,000tpa of purified terephthalic acid and 600,000tpa of polyethylene terephthalate (PET).

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

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