Business Monitor International


Belgium Petrochemicals Report

Published 08 November 2013

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Belgium Petrochemicals Report

Executive Summary

BMI's Belgium report examines the short-term trends in the Belgian petrochemicals market as the country struggles with the effects of the eurozone sovereign debt crisis. It also assesses the growth and investment strategies of leading players in the industry and how these will drive Belgium's competitiveness in the long-term.

Belgium has, like other countries in Western Europe, experienced a decline in petrochemicals consumption and output as a result of reduced economic activity and contagion from the eurozone debt crisis, which will remain a key threat to economic growth and stability over the medium-term. Overall industrial output growth declined to 1.5% in 2012 (from 3.0% in 2011) as the country entered recession. There is growing slack in industry as reflected in the drop in capacity utilisation rates to 76.9% in Q312, from a cyclical high of 82.6% in Q211. Nevertheless, BMI remains fairly upbeat on medium-term projections - with industrial growth of 3.5-4.5% expected over the next five years on the back of strong export growth and a recovery in economic activity, which should support growth in petrochemicals.

BMI examines the following issues:

  • Increased investment throughout the value chain, particularly in products utilised by the automotive industry, will improve the external competitiveness of the petrochemicals sector. These developments confirm a high degree of long-term commitment to establishing fully integrated petrochemicals production in Belgium.
  • Over the next two years, an additional 432,000tpa polyethylene terephthalate, 50,000tpa cyclohexane and 90,000tpa polyamide capacities are due to be started, boosting the integrated polyester and nylon production chains in Belgium.
  • Investment is also concentrated on adding value to polystyrene (PS) and polypropylene (PP) resins with the introduction of new process technology by Total and Sabic.
  • Dow is closing 160,000tpa HDPE capacity in Belgium as part of its global...

Table of Contents

Executive Summary
5
SWOT Analysis
7
Belgium Petrochemicals SWOT
7
Belgium Political SWOT
8
Belgium Economic SWOT
8
Global Petrochemicals Overview
9
Global Oil Products Price Outlook
13
Table: BMI's Refined Products Forecasts, 2010-2016
14
Table: Middle East Outperforms In Terms of Passenger Growth
18
European Petrochemicals Overview
23
Market Overview
27
Table: Belgium Olefins Facilities
28
Table: Belgium Aromatics And Intermediates Facilities
28
Table: Belgium Polyolefins Facilities
29
Industry Trends And Developments
30
Upstream and refining
31
Table: Refineries In Belgium
32
Western Europe Petrochemicals Risk/Reward Ratings
33
Table: West Europe Power Risk/Reward Ratings (Scores Out Of 100)
35
Industry Forecast Scenario
36
Table: Belgium Sector Data and Forecasts, 2010-2017
37
Macroeconomic Forecast
38
Table: Belgium - Economic Activity, 2011-2016
40
Competitive Landscape
41
Competition: Regulatory Scenario
41
Encouragement To Foreign Investment
41
No Free Zones And Ports
42
Company Profiles
43
Total Petrochemicals
43
Solvay SA
45
Glossary of Terms
46
Table: Glossary Of Petrochemicals Terms
46
BMI Methodology
47
How We Generate Our Industry Forecasts
47
Chemicals And Petrochemicals Industry
48
Cross Checks
49
Business Environment Ratings
49
Table: Petrochemicals Business Environment Indicators And Rationale
50
Table: Weighting Of Indicators
51
Country Snapshot
52
Table: Belgium's Population By Age Group, 1990-2020 ('000)
53
Table: Belgium's Population By Age Group, 1990-2020 (% of total)
54
Table: Belgium's Key Population Ratios, 1990-2020
55
Table: Belgium's Rural And Urban Population, 1990-2020
55

The Belgium Petrochemicals Report has been researched at source, and features Business Monitor International (BMI)'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 Belgium Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Belgian petrochemicals industry.

Key Benefits

  • Benchmark BMI's independent petrochemicals industry forecasts to test other views - a key input for successful budgetary and planning in the Belgian petrochemicals market.
  • Target business opportunities and risks in the Belgian petrochemicals sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Belgium.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI's key industry forecasts, views and trend analysis, covering petrochemicals markets, regulatory changes, major investments, projects and company developments.

Market Overview

Structure, size and value of the industry sector; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments.

Business Environment Rankings

BMI's Petrochemicals Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (both corporate and financial) in the regional petrochemicals market.

The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.

Industry Trends & Developments

Evaluation of company and sector-wide developments, including key projects (as well as expansion plans), latest company financial details and proposed international ventures.

BMI Industry Forecasts

Historic data series (2009-2012) and forecasts to end-2018 for all key industry and economic indicators supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:

Energy: Oil production (`000 b/d), oil consumption (`000 b/d), net oil exports (`000 b/d), gas production (bcm), gas consumption (bcm), net gas exports (bcm), oil refinery capacity (`000 b/d).

Petrochemicals: Ethylene capacity (`000 tpa), ethylene production (`000 tpa), ethylene consumption (`000 tpa), polyethylene capacity (`000 tpa), polypropylene capacity (`000 tpa), polyvinyl chloride capacity (`000 tpa), polyolefins consumption (`000 tpa).

Oil Products Prices: Price forecasts for all major oil-based products (US$/bbl) at major global energy trading hubs.

Economic: Nominal GDP (US$bn), real GDP growth (%), GDP per capita (US$), population (mn), unemployment (%), exchange rate (against US$).

Company Profiles

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc