Recently published research from Business Monitor International, "Taiwan Petrochemicals Report 2015", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 02/02/2015 -- Taiwan's petrochemicals industry depends on its ability to compete on the Asian market, but BMI's latest Taiwan Petrochemicals report states that the island could find itself crowded out as a result of rising Chinese self-sufficiency and growth in low-cost shale-based ethane-fed production in the US.
In 2014, Taiwan saw the beginning of a recovery in petrochemicals in line with overall manufacturing growth. Among the strongest end-use markets was the automotive industry, which helped offset lacklustre performance in other segments. Nevertheless, Taiwan has a small domestic market, relatively high labour costs compared with its neighbours, a strong environmentalist lobby and a large volume of FDI.
- The island's producers will need to improve external competitiveness to boost output. This will depend on securing a reduction in tariffs on petrochemical exports to China to boost their competitive edge in the huge mainland market. The 10th round of talks for a cross-strait trade in goods pact or other trade negotiations are likely to be held in 2015, which producers hope will lead to a break-through and enable them to compete with South Korean producers for the Chinese market.
- Taiwan's crude oil distillation capacity from four refineries is about 1.26mn b/d. However, the planned closure of the 220,000b/d Kaohsiung refinery in 2015 will likely bring the country's crude oil distillation capacity to 1.04mn b/d by the end of our forecast period, thereby slightly reducing naphtha availability.
- The closure of 500,000tpa ethylene capacity in 2015 will ensure that Taiwan ends the forecast period with just under 4mntpa of ethylene capacity. This may well lead to Taiwan becoming a net importer of ethylene over the medium-term.
- Taiwan's Petrochemicals Risk/Reward score fell 0.1 points in 2015 to 69.4 on the back of a deterioration in market risk scores as the country's ageing, naphtha-fed petrochemicals industry struggles to compete in a market where prices are falling...
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The Taiwan Petrochemicals Report has been researched at source, and features Business Monitor International (BMI)'s market assessment and independent forecasts for key petrochemicals sub-sectors. The report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing companies by products and services, sales, market share, investments, projects, partners and expansion strategies.
BMI's Taiwan Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Taiwanese petrochemicals industry.
- Benchmark BMI's independent petrochemicals industry forecasts to test other views - a key input for successful budgetary and planning in the Taiwanese petrochemicals market.
- Target business opportunities and risks in the Taiwanese petrochemicals sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Taiwan.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis, covering petrochemicals markets, regulatory changes, major investments, projects and company developments.
Structure, size and value of the industry sector; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments.
Business Environment Rankings
BMI's Petrochemicals Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (both corporate and financial) in the regional petrochemicals market.
The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.
Industry Trends & Developments
Evaluation of company and sector-wide developments, including key projects (as well as expansion plans), latest company financial details and proposed international ventures.
BMI Industry Forecasts
Historic data series (2009-2012) and forecasts to end-2018 for all key industry and economic indicators supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:
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