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Follow on Google News | Market Report, "Philippines Petrochemicals Report Q3 2011", publishedNew Energy market report from Business Monitor International: "Philippines Petrochemicals Report Q3 2011"
In 2010, the year-on-year growth in plastic products showed a steady decline, largely due to base effects while basic chemicals saw a high level of volatility with sharp rises and dips in output. Performance was patchy, however, with output dipping in Q210 before making a modest recovery in Q310. In 2010, the Philippines had installed PE nameplate capacity of 475,000tpa, PP nameplate capacity of 340,000tpa and PVC nameplate capacity of 100,000tpa, but no ethylene capacity. ------------------------------------------------------------ Full Report Details at - http://www.fastmr.com/ ------------------------------------------------------------ We were initially very bullish on plastics consumption going into 2011. Private consumption growth momentum has been strong, accelerating from 4.2% y-o-y in Q310 to 7.0% in Q410. With our expectation of manageable levels of consumer price inflation and a generally declining unemployment rate, private consumption growth looks to be well-supported through 2011. However, the situation has changed following rising oil prices and the MENA crisis. Indeed, the consumer expectations index (compiled by the central bank) for the coming year showed a sharp dip from 25.9 in Q410 to 1.2 in Q111 on the back of these two concerns. This could push down demand for plastic products. However, the decline in consumer expectations did not have an immediate effect on the plastic production index in the first two months of the year up 14.5% y-o-y. The Philippines' petrochemicals industry continues to attract investment with JG Summit Holdings planning a US$700mn naphtha cracker. Construction of the cracker at the Batangas complex is likely to take 30 months to complete. BMI believes project completion is unlikely before 2014. Meanwhile, Petron Corporation, the country's largest oil refiner, is embarking on an ambitious PHP74.78bn modernisation and expansion programme to transform its Bataan facility into a full-conversion plant that would produce Euro 4-compliant clean fuels, improve efficiency, increase its presence in the export market and support business integration and expansion of its retail business. The project will also produce other by-products such as petrochemical feedstock, particularly propylene, to be sold to plastic producers. Propylene production will grow 200% as a result. In BMI's Asia Petrochemicals Business Environment Rankings matrix, the Philippines comes 11th out of 12 countries, with 39.6 points, down 0.3pp since the previous quarter due to a decline in the country risk scenario. This puts it 7.1 points behind Indonesia and 9.1 points ahead of Vietnam. The Philippines petrochemicals sector suffers from lack of locally available feedstock and a relatively small and inefficient local polymers manufacturing base, which is incapable of supplying the plastics industry. If announced plans for petrochemicals expansion come to fruition, the country could climb up the rankings, but is unlikely to exceed India's score. Nevertheless, the Philippines has a supportive business environment in which the petrochemicals industry can grow. Report Table of Contents: SWOT Analysis - Philippines Petrochemicals Industry SWOT - Philippines Political SWOT - Philippines Economic SWOT - Philippines Business Environment SWOT Global Petrochemicals Overview - Petrochemicals Market Overview - Financial Results - Global Oil Products Price Outlook - Table: Oil Product Price Assumptions, Q410-Q411 (US$/bbl) - Table: Oil Product Price Data And Forecasts, 2008-2015 (US$/bbl) European Petrochemicals Overview Philippines Market Overview - Market Structure Industry Trends And Developments - Trade - Upstream Business Environment - Petrochemicals Business Environment Ratings - Table: Asia Pacific Petrochemicals Business Environment Ratings Forecast Scenario - Petrochemicals Forecasts - Table: Value Of Net Sales Growth By Segment, 2010 (% y-o-y) - Table: Philippines' Petrochemicals Sector, 2007-2015 ('000tpa, unless otherwise stated) - Macroeconomic Forecast - Table: Philippines - Economic Activity; 2006-2015 Company Monitor - BASF Philippines - JG Summit Petrochemicals Corp - PNOC Petrochemical Development - Petron Corporation - Tosoh Glossary Of Terms - Table: Glossary Of Petrochemicals Terms 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. # # # 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. End
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