Recently published research from Business Monitor International, "South Korea Petrochemicals Report 2015", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 01/28/2015 -- South Korea's drive to expand paraxylene (PX) will tap into China's massive deficit in the polyethylene terephthalate (PET) chain. But BMI's latest South Korea Petrochemicals Report warns that as Chinese economic growth cools and its capacities develop, export-led growth will have to diversify.
Xylenes capacities surged to 10.5mn tpa in 2014, compared to 6mn tpa in 2010. PX demand has been strong in recent years, in tandem with new purified terephthalic acid (PTA) plant startups in China. However, demand is not likely to increase further, as no PTA plant startups are planned in 2015.
The industry is focusing on adding value to the chemicals chain and serving domestic electronics and automotive industries with an emphasis on quality and specialisation. South Korea's demand for naphtha, which is used as the country's sole petrochemical feedstock, is accelerating with the development of naphtha-based aromatics capacity. Over the medium term, South Korea will have a stable supply of naphtha feedstock, which depends on refining rates. However, Korean refineries have historically suffered from chronic over-capacity and low operating rates.
View Full Report Details and Table of Contents
- We expect South Korea's refining capacity to remain relatively flat at about 2.5-2.6mn barrels per day (b/d) beyond 2016 on the back of a challenging climate for refiners.
- The industry is diversifying feedstock sources. LG Chem is planning to increase the usage of liquefied petroleum gas (LPG) from 44,000 tonnes a month to 66,000 tonnes a month to produce petrochemicals October. The move is expected to reduce the company's reliance on naphtha feedstock by 10%.
- We have a bearish outlook for South Korea construction sector, a major consumer of polyvinyl chloride (PVC). Meanwhile, Korean automotive production growth is set to decline in coming years, providing little upside to engineering plastics and synthetic rubbers used in the automotive supply industry.
- SK Global Chemical (SKGC) is diversifying its chemical product...
The South Korea 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 South Korea Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Korean petrochemicals industry.
- Benchmark BMI's independent petrochemicals industry forecasts to test other views - a key input for successful budgetary and planning in the Korean petrochemicals market.
- Target business opportunities and risks in the Korean petrochemicals sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in South Korea.
- 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 the petrochemicals markets, regulatory changes, major investments, projects and company developments.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the petrochemicals sector and within the broader political, economic and business environment.
BMI Industry Forecasts
Historic data series (2009-2013) and forecasts to end-2019 for key industry and economic indicators, supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:
- Energy: Oil production (?000 b/d), oil consumption (?000 b/d), net oil exports (?000 b/d), gas production (bcm), gas consumption (bcm), net gas exports (bcm), oil refinery capacity (?000 b/d).
- Petrochemicals: Ethylene capacity (?000 tpa), ethylene production (?000 tpa), ethylene consumption (?000 tpa), polyethylene capacity (?000 tpa), polypropylene capacity (?000 tpa), polyvinyl chloride capacity (?000 tpa), polyolefins consumption (?000 tpa).
- Oil Products Prices: Price forecasts for all major oil-based products (USD/bbl) at major global energy trading hubs.
- Economic: Nominal GDP (USDbn), real GDP growth (%), GDP per capita (USD), population (mn), unemployment (%), exchange rate (against USD).
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 800-844-8156
Browse all Energy research reports at Fast Market Research
You may also be interested in these related reports:
- South Africa Petrochemicals Report Q1 2015
- Taiwan Petrochemicals Report 2015
- Thailand Petrochemicals Report Q1 2015
- Philippines Petrochemicals Report Q1 2015
- China Petrochemicals Report Q1 2015