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New Market Study Published: Indonesia Petrochemicals Report Q4 2012

New Energy research report from Business Monitor International is now available from Fast Market Research

 

Boston, MA -- (SBWIRE) -- 12/07/2012 -- The Indonesia Petrochemicals Report Q4 2012 examines the latest plans for the expansion of the country's growing polymer resins sector. However, we warn that declining oil production and a constrained refining base could undermine naphtha feedstock supplies.

Furthermore, this report also analyses many of the trends in the domestic and external markets and the impact of these trends on investment decisions and the way producers manage risk. We also examine the continued potential for domestic consumption growth at a time when supply is unable to keep pace with demand.

There is likely to be yet more growth in petrochemicals capacities in 2013. The expansion of the Chandra Asri Petrochemical joint venture (JV) should raise the company's ethylene capacity from 600,000 tonnes per annum (tpa) to 1mn tpa. Furthermore, a new 100,000tpa butadiene extraction facility will be built and Chandra's polyethylene (PE) capacity will be expanded by 220,000tpa to 540,000tpa. The butadiene project is expected onstream in 2013, while expansion of the ethylene plant and the PE unit, as well as other facilities, is planned to be completed in 2014.

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Indorama Ventures is planning to invest in a new 300,000tpa plant to make polyester chips (due onstream in 2013) in a bid to become a leading vertically integrated polyester value chain producer. Meanwhile, in the chlor-alkili segment, polyvinyl chloride (PVC) producer Asahimas Chemical is raising capacity at its Cilegon caustic soda plant by 30% to 500,000tpa. In the fertiliser segment, PT Pupuk Kalimantan Timur (Kaltim) is building a large-scale nitrogen fertiliser complex at Bontang in East Kalimantan. The Kaltim-5 complex will be designed to produce 2,700 tonnes of ammonia per day and 3,500 tonnes per day of urea, with completion scheduled for the end of 2013. Meanwhile, PT Pupuk Sriwidjaja is planning to build two urea production facilities in East Java with combined capacity of 2mn tpa, with construction due to start in 2013. Looking further ahead, South Korea's Honam Petrochemical Corporation is planning a complex with capacities of 1mn tpa ethylene, 550,000tpa propylene and 140,000tpa butadiene in 2016. Downstream units would produce 600,000tpa PE, 600,000tpa PP and 700,000tpa ethylene glycol.

Over the last quarter BMI has revised the following forecasts/views:

- The government is seeking to increase its investment in the Indonesian petrochemicals industry in order to reduce its reliance on imported feedstock, which cost the country over US$5bn in 2011. The government is planning a number of incentives to encourage investment and boost the development of an integrated petrochemicals industry.
- Pertamina has delayed the start-up of its new 178,000tpa propylene facility at Balongan in West Java until 2013. The facility was initially due to become operational in mid-2012.

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