Market Report, "Vietnam Petrochemicals Report 2016", published
New Energy research report from Business Monitor International is now available from Fast Market Research
[USPRwire, Sun Jan 24 2016] Vietnam is set for a surge in refining and petrochemicals capacities in the next five years as investors seek to establish new operations in the Southeast Asian country. Strong growth in end markets and Vietnam's position as a global manufacturing hub are driving production, although there are enduring risks associated with land acquisition and regulatory approval as well as regional market over-supply.
Currently, limited capacity leads to a reliance on imports for domestic conversion and end-product manufacturing. With refinery developments in the pipeline, Vietnam will be able to increase capacities, particularly for polypropylene and ethylene in the medium term. However, slow land clearance and financing problems delay these projects, postponing capacity increases by a number of years.
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The main risks will come from both domestic and external influences. Domestically, the slow rate of land clearance for projects is delaying progress. This is adding years and raising costs to completion, leading to projects being scaled back. Externally, the industry is faced with the onslaught of cheap US-based production flooding the Asian market, while it will be dependent on refineries for feedstock, which is likely to be more expensive than shale-derived ethane. However, the Vietnamese industrial base is likely to favour the orientation of petrochemicals development with its emphasis on polypropylene and aromatics.
In the January-November period of 2015, chemicals production was up 5.7% y-o-y and rubber and plastic output grew 12.7% on the back of 9.7% industrial growth. However, the small base of local chemicals and petrochemicals production ensured that rising consumption led to a surge in imports.
The Vietnam 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 Vietnam Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Vietnamese petrochemicals industry.
* Benchmark BMI's independent petrochemicals industry forecasts to test other views - a key input for successful budgetary and planning in the Vietnamese petrochemicals market.
* Target business opportunities and risks in the Vietnamese petrochemicals sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Vietnam.
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