2014-01-09 08:18:04 - Singapore Petrochemicals Report Q1 2014 - a new market research report on companiesandmarkets.com
Singapore is ideally placed to capitalise on the expansion in demand in Asia over the long term.
Segments such as aromatics and synthetic rubber, in which Singapore is intensifying investment, are likely to be key growth areas. However, the market could become more challenging as China works to improve the polyester supply chain, while demand growth remains slower in historical terms.
Petrochemicals have grown strongly over the past two years amid capacity growth, with output in 2013 rising by around 3.5% while overall chemicals output rose 0.5%. Petrochemicals production grew as ExxonMobil´s second petrochemicals complex at Jurong Island , completed in 2012, ramped up to full capacity with 1mn tonnes per annum (tpa) of ethylene, 650,000tpa of polyethylene (PE), 450,000tpa of polypropylene
(PP) and 300,000tpa of speciality elastomers, as well as an aromatics extraction unit and an oxo alcohol expansion unit. Lanxess also brought into operation its new butyl rubber plant on Jurong Island in Singapore in 2013, further diversifying the state´s product portfolio.
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