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Follow on Google News | New Market Study Published: Philippines Petrochemicals Report Q3 2010New Energy market report from Business Monitor International: "Philippines Petrochemicals Report Q3 2010"
While we are optimistic about the Philippines' 2010 recovery story, we caution that an earlier-thanexpected monetary tightening by the central bank may lead to lower spending on consumer products, thereby depressing demand up the production chain to polymers. Much will depend on inflationary pressures and how the central bank responds. Also, we are concerned of a Chinese double-dip slowdown brought about by Beijing's efforts to stem asset bubbles this year, as seen in its monetary tightening move in January 2010. As such, we caution that net exports could decline further, dragging down the broad economy as well but particularly export-oriented industries that utilise petrochemicals products. In the long term, the main weakness in the Philippines' petrochemical industry is its dependence on imported ethylene and propylene, as well as aromatics and their derivatives. The improvement of the economic climate has opened up the prospect of an expansion in the country's petrochemicals industry. In March 2010, JG Summit Holdings indicated that it may revive plans for the country's first naphtha cracker to expand its petrochemicals business and provide feedstock for its polymer operations. The plant would cost US$500mn and would take 30 months to complete, according to reports. The indication came after the group sold shares in its airline unit and announced plans to raise its capital expenditure to more than PHP30bn (US$658mn). The production of speciality chemicals and propylene is likely to expand as Petron sets up new petrochemicals plants in the country. With US$200mn in investment planned over the next three years, the new units are likely to bolster overall petrochemicals production by 2014. However, no firm plans have been made, so BMI is holding back on building Petron's plans into its forecasts. The situation may change over the coming months, especially if the economic situation forces the company to shelve some of its capital expenditure plans. Greater competition with foreign resins producers as a result of trade liberalisation could hamper the recovery in output of upstream petrochemicals producers. However, the development of dynamic and growing local petrochemicals consuming industries can only improve the business climate for the industry in the long term with the potential for increased investment in capacity. For more information or to purchase this report, go to: - http://www.fastmr.com/ Report Table of Contents: Executive Summary SWOT Analysis - Philippines Petrochemicals Industry SWOT - Philippines Political SWOT - Philippines Economic SWOT - Philippines Business Environment SWOT Global Overview - Petrochemicals Market Overview - Table: World Ethylene Production By Country, 2009 And 2014 ('000 tonnes capacity) - Global Oil Products Price Outlook - Table: Oil Product Price Assumptions, Q409-Q410 (US$/bbl) - Table: Oil Product Price Data And Forecasts, 2007-2014 (US$/bbl) Emerging Asia Petrochemicals Overview - Table: Asian Ethylene Projects Philippines Market Overview - Table: Value Of Net Sales Growth By Segment, 2008 (% y-o-y) - Table: Production Capacity Utilisation By Segment, 2008 (%) - Market Structure Industry Trends And Developments - Trade - Upstream - Financial Results Business Environment - Petrochemicals Business Environment Ratings - Table: Asia Pacific Petrochemicals Business Environment Ratings - Business Environment - Table: BMI's Asia Pacific Business And Operational Risk Ratings - Table: BMI's Asia Pacific Legal Framework Ratings - Table: Asia Pacific Labour Force Quality - Table: Annual FDI Inflows Into Asia, 2006-2007 - Table: Philippines' Top Export Destinations, 2001-2007 (US$mn) - Table: BMI's Asia Pacific Trade Ratings Industry Forecast Scenario - Table: Philippines' Petrochemicals Sector, 2007-2014 ('000tpa, unless otherwise stated) - Macroeconomic Outlook - Table: Philippines - Economic Activity, 2007-2014 Company Monitor - BASF Philippines - Bataan Polyethylene Corporation - Dow Chemical Philippines - JG Summit Petrochemicals Corp - PNOC Petrochemical Development - Petron Corporation - Tosoh Country Snapshot: Philippines Demographic Data - Section 1: Population - Table: Demographic Indicators, 2005-2030 - Table: Rural/Urban Breakdown, 2005-2030 - Section 2: Education And Healthcare - Table: Education, 2002-2005 - Table: Vital Statistics, 2005-2030 - Section 3: Labour Market And Spending Power - Table: Employment Indicators, 2001-2006 - Table: Consumer Expenditure, 2007-2012 (US$) - Table: Average Annual Manufacturing Wages, 2004-2006 BMI Methodology - How We Generate Our Industry Forecasts - Chemicals And Petrochemicals Industry - Cross Checks - Business Environment Ratings - Table: Petrochemicals Business Environment Indicators And Rationale - Weighting - Table: Weighting Of Indicators About Business Monitor International 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 http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. End
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