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BMI View: The UAE petrochemicals industry is continuing on its drive towards increased capacity and diversification, but BMI warns that it will have to deal with increasing competitive pressure on crucial export markets as China and India ramp up production and developed markets remain in the doldrums.
Borouge reopened its polyolefins facilities at Ruwais, Abu Dhabi in mid-February 2013 following a planned six-week maintenance turnaround. The company said the turnarounds were used to increase the production of value-added grades, such as ready-made pressure pipe compounds for the infrastructure market. The turnarounds, which coincided with an uptick in increased Asian purchases, contributed to a rise in PE and PP prices of around US$80-130 per tonne in January. Although Borouge was back to full capacity in February, maintenance stoppages elsewhere in the GCC should continue to support prices in going into April.
BMI View: The UAE petrochemicals industry is continuing on its drive towards increased capacity and diversification, but BMI warns that it will have to deal with increasing competitive pressure on crucial export markets as China and India ramp up production and developed markets remain in the doldrums.
Borouge reopened its polyolefins facilities at Ruwais, Abu Dhabi in mid-February 2013 following a planned six-week maintenance turnaround. The company said the turnarounds were used to increase the production of value-added grades, such as ready-made pressure pipe compounds for the infrastructure market. The turnarounds, which coincided with an uptick in increased Asian purchases, contributed to a rise in PE and PP prices of around US$80-130 per tonne in January. Although Borouge was back to full capacity in February, maintenance stoppages elsewhere in the GCC should continue to support prices in going into April.
BMI Industry View
SWOT
Petrochemicals
Political
Economic
Business Environment
Industry Forecast
Table: UAE's Petrochemicals Projects
Table: UAE's Petrochemicals Sector, 2010-2017
Macroeconomic Forecasts
Macroeconomic Forecast
Household Consumption Outlook
Government Consumption Outlook
Fixed Investment Outlook
Net Export Outlook
Table: Economic Activity
Industry Risk/Reward Ratings
Middle East And Africa Petrochemicals Risk/Reward Ratings
Africa Coming Into View As Gulf States Mature
Arab Spring Takes Its Toll
Regulatory Framework Dictates Risks
Table: MEA Petrochemicals Regional Risk Reward Ratings
UAE Petrochemicals Risk/Reward Ratings
Market Overview
Table: The UAE's Petrochemicals Sector - Cracker Capacity, 2010-2017, ('000 tpa)
Industry Trends And Developments
Abu Dhabi
Dubai And The Northern Emirates
Overseas Investment
Developments In Related Industries
Table: Major UAE Oil And Gas Concessions
Company Profile
Abu Dhabi National Oil Company (Adnoc)
Abu Dhabi Polymers (Borouge)
Regional Overview
Middle East Overview
Kuwait And UAE Challenge Region's Bigger Producers
Ethane Reliance A Structural Weakness
Global Industry Overview
Global Petrochemicals Overview
Change In Feedstock, But Not In Market Cycle
Polymers Heading On Different Trajectories
Global Oil Products Price Outlook
Table: BMI's Oil Price Forecasts, Average Price (US$/bbl)
Table: BMI's Refined Products Forecasts
Refiners: Is The Party Over?
Jet Fuel: Middle East & Africa Remain Positive As Global Air Traffic Slumps
Table: Total Air Freight & Passenger Volumes
Gasoline And Diesel: Demand Destruction Takes A Toll
Naphtha: Asia Stays Afloat While Europe Sinks
Bunker Fuels: Trans-Pacific Route Rebound Amid High Prices
Demographic Forecast
Demographic Outlook
Table: United Arab Emirates' Population By Age Group, 1990-2020 ('000)
Table: United Arab Emirates' Population By Age Group, 1990-2020
Table: United Arab Emirates' Key Population Ratios, 1990-2020
Table: United Arab Emirates' Rural And Urban Population, 1990-2020
Glossary
Table: Glossary of Petrochemicals Terms
Methodology
Chemicals And Petrochemicals Industry
Cross Checks
Risk/Reward Ratings
Table: Petrochemicals Risk/Reward Indicators And Rationale
Weighting
Table: Weighting Of Indicators
SWOT
Petrochemicals
Political
Economic
Business Environment
Industry Forecast
Table: UAE's Petrochemicals Projects
Table: UAE's Petrochemicals Sector, 2010-2017
Macroeconomic Forecasts
Macroeconomic Forecast
Household Consumption Outlook
Government Consumption Outlook
Fixed Investment Outlook
Net Export Outlook
Table: Economic Activity
Industry Risk/Reward Ratings
Middle East And Africa Petrochemicals Risk/Reward Ratings
Africa Coming Into View As Gulf States Mature
Arab Spring Takes Its Toll
Regulatory Framework Dictates Risks
Table: MEA Petrochemicals Regional Risk Reward Ratings
UAE Petrochemicals Risk/Reward Ratings
Market Overview
Table: The UAE's Petrochemicals Sector - Cracker Capacity, 2010-2017, ('000 tpa)
Industry Trends And Developments
Abu Dhabi
Dubai And The Northern Emirates
Overseas Investment
Developments In Related Industries
Table: Major UAE Oil And Gas Concessions
Company Profile
Abu Dhabi National Oil Company (Adnoc)
Abu Dhabi Polymers (Borouge)
Regional Overview
Middle East Overview
Kuwait And UAE Challenge Region's Bigger Producers
Ethane Reliance A Structural Weakness
Global Industry Overview
Global Petrochemicals Overview
Change In Feedstock, But Not In Market Cycle
Polymers Heading On Different Trajectories
Global Oil Products Price Outlook
Table: BMI's Oil Price Forecasts, Average Price (US$/bbl)
Table: BMI's Refined Products Forecasts
Refiners: Is The Party Over?
Jet Fuel: Middle East & Africa Remain Positive As Global Air Traffic Slumps
Table: Total Air Freight & Passenger Volumes
Gasoline And Diesel: Demand Destruction Takes A Toll
Naphtha: Asia Stays Afloat While Europe Sinks
Bunker Fuels: Trans-Pacific Route Rebound Amid High Prices
Demographic Forecast
Demographic Outlook
Table: United Arab Emirates' Population By Age Group, 1990-2020 ('000)
Table: United Arab Emirates' Population By Age Group, 1990-2020
Table: United Arab Emirates' Key Population Ratios, 1990-2020
Table: United Arab Emirates' Rural And Urban Population, 1990-2020
Glossary
Table: Glossary of Petrochemicals Terms
Methodology
Chemicals And Petrochemicals Industry
Cross Checks
Risk/Reward Ratings
Table: Petrochemicals Risk/Reward Indicators And Rationale
Weighting
Table: Weighting Of Indicators
