Argentina Petrochemicals Report Q1 2014

Date: November 13, 2013
Pages: 86
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF), Download

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Includes 3 FREE quarterly updates

The Argentine petrochemicals industry will struggle to compete against imports from Brazil and the US as competitiveness declines amid feedstock shortages. While the situation could turn around if domestic gas resources are tapped, this scenario is not expected over the next five years, according to BMI's Argentina Petrochemicals Report.

Renationalisation of YPF has failed to stop the annual winter crisis of gas supply, which has caused feedstock shortages for the petrochemicals industry. Argentina has been a net gas importer since 2008 and has prioritised supplies to the residential power sector over the needs of the petrochemicals industry.

Cutbacks in gas supplies have undermined performance and deterred investment and renationalisation has provided no new feedstock. Moreover, the fall in the value of the peso, which has raised the cost of imports, coupled with a price cap on consumer prices for electricity and natural gas has made natural gas unprofitable. There is the possibility of policy reversal if shale proves to be commercially viable for extraction, as in the US. If so, the Argentine petrochemicals industry could undergo the transformation seen in North America. Nevertheless, it is unlikely to make any impact on capacity over the medium-term with BMI anticipating 2020 as the earliest date for any new cracker construction in Argentina.
Business Environment
Industry Forecast
  Table Argentina's Petrochemicals Sector, 2010-2017, ('000 tpa, unless otherwise stated)
Macroeconomic Forecasts
  Table Argentina - GDP By Expenditure
Industry Risk Reward Ratings
Market Overview
  Table Argentina's Olefins Facilities
  Table Argentina's Polyolefins Facilities
  Table Argentina's Aromatics Facilities
  Table Argentina's Fertiliser Facilities
Industry Trends And Developments
Company Profile
Dow Chemical Company
  Table Financial Results (ARSmn)
  Table Financial Results (ARSmn)
Regional Overview
Americas Overview
  Table Planned PE projects in North America, 2014-2019
Latin American Supply Lags Behind Demand
Naptha worries
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 Product Price Outlook
Crude Price Forecasts
  Table BMI's Oil Price Forecasts, Average Price (US$/bbl)
Variance Across Product Markets
Narrower US Market Crude-Product Spreads
Weak Demand Persists
Risks To Outlook
  Table BMI's Refined Products Forecasts, US$/bbl
Supply: Supported By Global Refining Capacity
Naphtha: US Gas Hits Demand
Gasoline And Gasoil/Diesel: Subsidies & Fuel Efficiency Cap Upward Movement
Jet Fuel: Limited Upward Movement
  Table Total Air Freight And Passenger Volumes
Bunker Fuels: Sulphur Control To Hit Rotterdam Hardest
Demographic Forecast
  Table Argentina's Population By Age Group, 1990-2020 ('000)
  Table Argentina's Population By Age Group, 1990-2020 (% of total)
  Table Argentina's Key Population Ratios, 1990-2020
  Table Argentina's Urban And Rural Population, 1990-2020
Industry Forecast Methodology
Risk Reward Rating Methodology
  Table Petrochemicals Risk Reward RATING Indicators
  Table Weighting Of Indicators
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