United Arab Emirates Petrochemicals Report Q1 2014

Date: January 8, 2014
Pages: 85
US$ 1,295.00
Publisher: Business Monitor International
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Includes 3 FREE quarterly updates

BMI View: Borouge is set to start operations at its new plants in Q114 at a time when Asia self-sufficiency is leading to a slowdown in export activity. Borouge 3 will add capacities of 1.5mn tonnes per annum (tpa) of ethylene, 960,000tpa polypropylene (PP) and 1.08mn tpa polyethylene (PE). The project also includes an 80,000tpa cross-linked polyethylene (XLPE) plant, which Borouge said will be a value-added complement to the 350,000tpa low-density polyethylene (LDPE) unit at the site. Unless external markets recover, the additional capacity will exacerbate the problems faced in 2013 when the industry was facing slowing Asian markets, moderating product prices and rising feedstock costs.

The UAE is likely to see tightening availability of ethane leading to a rise in feedstock costs. This will be tempered by the used of mixed-feed crackers in future petrochemicals projects, which should make use of naphtha produced by the country's expanding refining capacity. Major investment in offshore and onshore oil projects, as well as the development of new gas fields and downstream expansion, makes the UAE a focal point of activity in the region, with billions of dollars worth of projects underway. This should alleviate some of the feedstock challenges the industry is facing as it expands capacity over the next five years.
BMI Industry View
Business Environment
Industry Forecast
  Table: UAE's Petrochemicals Projects
  Table: UAE's Petrochemicals Sector - Capacity, 2010-2018 ('000 tpa)
Macroeconomic Forecast
Fiscal Position Remains Solid
Industry Risk
MEA Petrochemicals Risk Reward Ratings
Arab Spring Takes Its Toll
Regulatory Framework Dictates Risks
  Table: MEA Petrochemicals Risk
UAE Petrochemicals Risk
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
Global Industry Overview
A Stable 2013, Leading To Growth In 2014?
  Table: Top 10 Ethylene Producers, 2013
Long-Term Growth
Shale: The Future Of Feedstock?
Threats To growth
Global Oil Products Price Outlook
Crude Price Forecasts
  Table: BMI's Oil Price Forecasts, Average Price (US$
Variance Across Product Markets
Narrower US Market Crude-Product Spreads
Weak Demand Persists
Risks To Outlook
  Table: BMI's Refined Products Forecasts, US$
Supply: Supported By Global Refining Capacity
Naphtha: US Gas Hits Demand
Gasoline And Gasoil
Jet Fuel: Limited Upward Movement
  Table: Total Air Freight And Passenger Volumes
Bunker Fuels: Sulphur Control To Hit Rotterdam Hardest
Demographic Forecast
  Table: United Arab Emirates' Population By Age Group, 1990-2020 ('000)
  Table: United Arab Emirates' Population By Age Group, 1990-2020 (% of total)
  Table: United Arab Emirates' Key Population Ratios, 1990-2020
  Table: United Arab Emirates' Rural And Urban Population, 1990-2020
  Table: Glossary Of Petrochemicals Terms
Industry Forecast Methodology
  Table: Petrochemicals Risk
  Table: Weighting Of Indicators
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