2013-12-12 16:43:30 - New Energy research report from Business Monitor International is now available from Fast Market Research
The Qatari petrochemicals industry is witnessing strong growth as capacity expands, even in the face of a global economic slowdown and threats of escalating feedstock costs. Continued growth demonstrates the confidence the Qatari industry has in future prospects, although BMI warns that planned diversification will not be sufficient to ensure the sector can reap the full benefits of expansion.
Qatar has managed to achieve solid growth in spite of a slowdown in global markets due to the recession in Europe and a decline in manufacturing growth in Asia. Low density polyethylene (LDPE) was boosted by Qatar Petrochemical Company's new LDPE 3 plant, which increased its polyolefin production capacity to 1.15mn tpa and made the site the world's biggest single producer of
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Upcoming projects include the development of a large petrochemicals complex in Ras Laffan by Qatar Petroleum and Qatar Petrochemical Company (QAPCO). An olefins project, valued at US$6.4bn, is also in development by QAPCO and Shell. QAPCO plans to expand the production capacity of its cracker, enabling it to produce up to 1mn tpa of ethylene. Other projects include Qapco's US$5.5bn JV with Total at Ras Laffan is set for completion in 2018. Also coming onstream in 2018, the Al-Sejeel Petrochemicals Complex, a joint venture between QP and QAPCO, and the Al-Karaana petrochemicals complex, a JV between Qatar Petroleum (QP) and Shell, which will together lead to a fuller diversification of Qatari petrochemicals production.
BMI notes the following developments in Qatar's petrochemical industry:
* BMI forecasts that by 2018, Qatar's ethylene capacity should reach 7.2mntpa, an increase of 177% compared to 2013. This will be accompanied by polyethylene capacity of 4.49mntpa (up 180%) and 540,000tpa of polypropylene (PP).
* Amid growth in Chinese and US supply and rising feedstock costs, by the end of our forecast period the Qatari petrochemicals industry may well be facing squeezed margins with the prospect that some plants will operate below capacity.
* Qatar is now ranked fourth in our petrochemicals rankings for the Middle East and Africa with an overall score of 60.4, unchanged since the previous quarter. This puts it 0.1 point behind Kuwait, 3.6 points behind the UAE and 1.7 points ahead of Iran
Report Table of Contents:
BMI Industry View
- Business Environment
- Table: Qatar's Petrochemicals Sector, 2010-2018 ('000 tpa, unless otherwise stated)
- Economic Analysis
- Table: QATAR - ECONOMIC ACTIVITY
Industry Risk Reward Ratings
- Middle East And Africa Petrochemicals Risk/Reward Ratings
- Africa Coming Into View As Gulf States Mature
- Arab Spring Takes Its Toll
- Regulatory Framework Dictates Risks
- Table: MEA Petrochemicals Risk Ratings
- Qatar Petrochemicals Risk/Reward Ratings
- Table: Qatar's Petrochemical Plants
- Table: QP Subsidiaries and JVs In Petrochemicals
Industry Trends And Developments
- Upstream Developments
- Foreign Presence
- Qatar Petroleum
- Qatar Chemical Company (Q-Chem)
- Qatar Fertiliser Company (Qafco)
- Qatar Fuel Additives Company (QAFAC)
- Qatar Petrochemicals Company (QAPCO)
- Qatar Plastic Products Company (QPPC)
- Qatar Vinyl Company (QVC)
- Middle East Overview
- Kuwait And UAE Challenge Region's Bigger Producers
Global Industry Overview
- A Stable 2013, Leading to Growth in 2014?
- Table: Top 10 ethylene producers, 2013
- Long-term growth
- Shale: The Future of Feedstock?
- Threats to growth
- Global Oil Product Price Outlook
- Crude Price Forecasts
- Table: BMI's Oil Price Forecasts, Average Price (US$/bbl)
- Variance Across Product Markets
- Narrower US Market Crude-Product Spreads
- Weak Demand Persists
- Risks To Outlook
- Table: BMI's Refined Products Forecasts, US$/bbl
- Supply: Supported By Global Refining Capacity
- Naphtha: US Gas Hits Demand
- Gasoline And Gasoil/Diesel: Subsidies & Fuel Efficiency Cap Upward Movement
- Jet Fuel: Limited Upward Movement
- Table: Total Air Freight And Passenger Volumes
- Bunker Fuels: Sulphur Control To Hit Rotterdam Hardest
- Demographic Outlook
- Table: Qatar's Population By Age Group, 1990-2020 ('000)
- Table: Qatar's Population By Age Group, 1990-2020 (% of total)
- Table: Qatar's Key Population Ratios, 1990-2020
- Table: Qatar's Rural And Urban Population, 1990-2020
- Table: Glossary Of Petrochemicals Terms
- Industry Forecast Methodology
- Risk Reward Rating Methodology
- Table: Petrochemicals Risk Reward RATING Indicators
- Table: Weighting Of Indicators
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Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010
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