Just Published: "Qatar Petrochemicals Report Q1 2016"

The rise in naphtha prices has enabled Qatar's ethane-fed petrochemicals industry to regain some of the competitive edge it lost in the past year. However, this is unlikely to lead to a revival of shelved or postponed petrochemicals projects. Local producers are still mindful of the negative impacts of slower Asian demand growth, increased Iranian supply over the short-term and the long-term development of shale-based ethane-fed production in the US.

In the past year, Qatar has witnessed the cancellation of two major petrochemicals projects: Al Sejeel and the Al Karaana. The main reason for the cancellations was low naphtha prices. Together, they removed from our five-year forecast 2.5mn tonnes per annum (tpa) ethylene, 170,000tpa propylene, 83,000tpa butadiene, 2.02mn tpa polyethylene (PE), 760,000tpa polypropylene (PP), 1.5mn tpa mono-ethylene glycol (MEG), 300,000tpa linear alpha olefin (LAO) and 250,000tpa oxo alcohols (OXO) capacity.

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Qatar's position in the international market is therefore set to diminish, replaced increasingly by new complexes in the US and China. Indeed, the decline in PE exports to China is the major external challenge to the export-oriented Qatari petrochemicals industry. Due to the lack of diversification, Qatar is likely to be sidelined in the special chemicals market. Although the government is seeking to redress the balance with mixed crackers, other industries are also capitalising on the increasing global demand, which will cause Qatar to be left behind.

The industry is managing to hold its own with Qatar's manufacturing sector growing 3.8% y-o-y in Q215, which was behind overall economic growth of 4.8% y-o-y but exceeded the oil and gas sector which grew just 0.9%. However, performance has been less spectacular than in recent years as product prices and demand have remained lacklustre.

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

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