Thailand Petrochemicals Report Q3 2011: New research report available at Fast Market Research

July 5, 2011 - PRLog -- BMI's latest Thailand Petrochemicals Report expects a more challenging export environment to limit growth in 2011, despite planned rises in capacity.

GDP growth is set to fall from 7.8% in 2010 to 3.6% in 2011 largely as a result of an expected slowdown in external demand and as high base effects kick in and the inventory restocking cycle wings down. A more challenging external environment will be compounded by the appreciation of the Thai baht due to Thailand's strong current account position and continued monetary normalisation by the central bank. We are forcasting a steady appreciation of the Thai baht from THB30.29/US$ by Q211 towards THB29.50/US$ by end-2011.

While Thai petrochemicals capacity has been expanded with an eye on export growth, domestic consumption will play an important role in the industry's growth in 2011. Private consumption will be the main driver of growth in 2011, reaching 5.0% in 2011, unchanged from 2010. With low unemployment and growth in wages, there is a likelihood of strong growth from a broad range of domestic plastics consuming industries. In Q111, ethylene output was up 27.7% while propylene was down 3.4%. In the polymers segment, PP grew 46.3%, PE was up 6.3%, PVC rose 3.1% and PS declined 11.1%, which was in line with rising petrochemicals capacity and the changing structure of the Thai industry. However, PVC and PE were down 7.6% and 19.2% respectively, indicating that output was moderating from the peaks seen in Q410. Annual industrial growth is set to fall from 6.0% in 2010 to 4.5% from 2011. As such, petrochemicals growth may face considerable headwinds in 2011 in the event that inventory restocking begins to turn negative.

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Full Report Details at
- http://www.fastmr.com/prod/204772_thailand_petrochemicals...
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BMI believes Thai olefins producers are productive and competitive enough to deal with the challenges ahead. Generally, Thailand's polymer manufacturing industry enjoys high operating rates, with production consistently at 90% of capacity and exports performing strongly, although this is dependent on export demand, with the domestic market too small to soak up output.

In the near future, Thailand is expected to remain a net exporter of five major polymers - PE, PVC, PP, PS and PET - despite estimates that demand growth for the products is likely to drop. The combined domestic consumption of the five polymers is forecast to rise from an estimated 3.2mn tpa in 2008 to 5.5mn tpa tonnes in 2015. It is forecast that Thailand's major polymer exports are likely to reach up to third of capacity by the end of the forecast period.

In BMI's Asia Petrochemicals Business Environment Rankings matrix, Thailand scores 67.1 points, down 0.2 points due to a decline in the country's long-term external risk rating. It is in sixth place, 5.8 points behind Taiwan and 3.5 points ahead of Malaysia.

Report Table of Contents:

SWOT Analysis
- Thailand Petrochemicals Industry SWOT
- Thailand Political SWOT
- Thailand Economic SWOT
- Thailand 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)
Emerging Asia Petrochemicals Overview
Thailand Market Overview
- Table: Thailand's Petrochemicals Sector - Cracker Data, 2009-2015 ('000tpa)
- Market Evolution
Industry Trends And Developments
- Table: Thailand's Petrochemical Projects
- Political Risk And The Petrochemicals Industry
- Mergers and acquisitions
- Latest Developments
- Olefins
- Table: Thailand's Petrochemicals Sector - Ethylene Capacity (tpa)
- Aromatics
- Table: Thailand's Petrochemicals Sector - Aromatics Capacity (tpa)
- Polymers
- Table: Thailand's Petrochemicals Sector - Polyethylene Capacity (tpa)
- Table: Thailand's Petrochemicals Sector - Polypropylene Capacity (tpa)
- Table: Thailand's Petrochemicals Sector - Polyvinyl Chloride Capacity (tpa)
- Table: Thailand Petrochemicals Sector - Polystyrene Capacity
- Financial Results
Petrochemicals Business Environment Ratings
- Table: Asia Pacific Petrochemicals Business Environment Ratings
Forecast Scenario
- Petrochemicals Forecasts
- Table: Thailand's Petrochemicals Sector, 2007-2015 ('000 tpa, unless otherwise stated)
- Macroeconomic Outlook
- Table: Thailand - Economic Activity; 2006-2015
Company Monitor
- Indorama Polymers Public Company Limited (IRP PCL)
- Integrated Refinery and Petrochemicals Company (IRPC)
- PTT Aromatics and Refining (PTTAR)
- PTT Chemical (PTTC)
- PTT Public Company
- Shell
- Siam Cement/Cementhai Chemicals Company (CCC)
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

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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.