Indonesia Petrochemicals Report Q3 2016

Date: July 6, 2016
Pages: 79
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: I599C4D4C90EN

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Includes 3 FREE quarterly updates

BMI View: The overhaul of Indonesian petrochemicals producer Chandra Asri Petrochemicals' cracker in 2015 will boost the firm's revenues and output in 2016, and enable Indonesia to leverage the competitive advantages it enjoys in naphtha feedstock as well as the falling value of the rupiah. However, the market remains dependent on imports, and expansion is not happening at a pace fast enough to fulfil local demand. The development of a world-scale petrochemicals facility is still at least five years away, and in the meantime much of Indonesia's market growth will be served by imports.

Indonesia has a high level of import requirements and would need a world-scale petrochemicals complex to achieve self-sufficiency. In all, Indonesia had just 44% self-sufficiency in polymer resins in 2015, with demand for polyethylene (PE) and polypropylene (PP) at 3.11mn tonnes and production at 1.38mn tonnes. In Q116, Chandra Asri Petrochemicals (CAP) was bringing its expanded facility back online, albeit with initial technical problems causing stoppages and low capacity utilisation. The expansion means production capacity of ethylene and propylene is expected to increase to 860,000 tonnes per annum (tpa) and 470,000tpa respectively, from 600,000tpa and 320,000tpa in 2015. CAP hopes the growth will lead to revenues rising by at least 30%, helping to sustain net profit at 4.7%. Indonesia is also ramping up propylene capacity. The Cilacap RFCC, which came into operation in Q415, added 180,000tpa of propylene capacity. With CAP needing only a further 10,000tpa of propylene to run its 480,000tpa PP plant at full operating capacity, Indonesia has made a major step towards propylene selfsufficiency, potentially with an exportable surplus. However, the economics may not stack up in setting up a new PP plant, which would need to be big enough to compete with regional rivals.
BMI Industry View
Operational Risk
Industry Forecast
  Table: Petrochemicals Projects in Indonesia
  Table: Indonesia's Petrochemicals Sector, 2012-2020
Macroeconomic Forecasts
Economic Analysis
Industry Risk/Reward Index
Asia Petrochemicals Risk/Reward Index
  Table: Asia Petrochemicals Risk/Reward Index Ranking
Indonesia Petrochemicals Risk/Reward Index
Market Overview
  Table: Indonesian Petrochemicals Sector Capacity
Industry Trends And Developments
  Table: Refineries In Indonesia
Company Profile
Chandra Asri (CACP)
  Table: Chandra Asri - Financial Results (USDmn)
Petrokimia Gresik (Petrogres)
Regional Overview
Asia Overview
Global Industry Overview
Demographic Forecast
Demographic Outlook
  Table: Population Headline Indicators (Indonesia 1990-2025)
  Table: Key Population Ratios (Indonesia 1990-2025)
  Table: Urban/Rural Population & Life Expectancy (Indonesia 1990-2025)
  Table: Population By Age Group (Indonesia 1990-2025)
  Table: Population By Age Group % (Indonesia 1990-2025)
  Table: Glossary Of Petrochemicals Terms
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Petrochemicals Risk/Reward Index Indicators
  Table: Weighting Of Indicators
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