New Market Research Report: Taiwan Petrochemicals Report 2016
Recently published research from Business Monitor International, "Taiwan Petrochemicals Report 2016", is now available at Fast Market Research
[USPRwire, Mon Feb 08 2016] There is a worrying trend for Taiwanese petrochemicals producers to move investment in basic chemicals to mainland China and South East Asia. Unless Taiwan can diversify and specialise to add value to the olefins production it currently possesses, the industry is likely to fall behind and lose its competitive edge.
The Taiwanese petrochemicals industry's recovery in 2015 began to tail off as the industry was affected by the slowdown in China. In the first 10 months of 2015, the chemicals products index grew 0.4% y-o-y and rubber grew 0.6%, but plastic declined 3.7% with the sector reversing the gains it made in the previous year. The trend reflected a 0.6% decline in manufacturing, caused by falling orders from mainland China as well as the effects of water restrictions for producers in response to the drought situation.
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Taiwan's reliance on naphtha streams, derived from refining imported crude, puts it on the back foot when competing with ethane-based production in North America and the Middle East. However, falling naphtha costs have offset the effects of falling export orders and declining competitiveness. The proportion of ethane in the mix could increase with the expansion of LNG terminals, while refinery expansion is unlikely over the foreseeable future. Increased flexibility in feedstock supply could help improve Taiwan's competitiveness in petrochemicals, although there is a question of the amount of investment needed to enable ethane to be used in the mix.
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 12th round of talks for a cross-strait trade in goods pact or other trade negotiations were being held in Q415 with the Taiwanese negotiators pressing for tariff reductions on petrochemicals.
The Taiwan Petrochemicals Report has been researched at source, and features BMI Research'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.
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