Japan Petrochemicals Report 2016 - Business Monitor International - Industry Reports

Japan Petrochemicals Report 2016

Japan Petrochemicals Report 2016 - Business Monitor International - Industry Reports
Japan Petrochemicals Report 2016
Published Dec 05, 2015
77 pages — Published Dec 05, 2015
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Japanese ethylene production will never return to pre-recession levels due to a series of cracker closures and more likely over the next five years. However, this does not mean Japan s petrochemicals industry is dying - it is instead continuing its process of reform with shutdowns necessary to restructure the industry and it will need to reduce ethylene capacity by -.-mn tonnes per annum (tpa) in order to address the looming national olefins surplus. ...In ----, LDPE witnessed a sharp decline in output, while other polymers enjoyed respectable growth. Going into ----, Japan is set to witness lower petrochemicals volumes in some segments, both as a result of capacity reductions in olefins and aromatics as well as The government has urged cuts in petrochemicals capacities even though planned cuts are taking ethylene capacity from around -.--mn tpa in ---- to -.--mn tpa in ----. Asahi Kasei and Mitsubishi Chemical are consolidating their crackers at Chiba, reducing their total capacities from -mn tpa to ---,---tpa from April ----. ...Its lead over Singapore has lengthened from -.- points to -.- due to the South East Asian country s exposure to the Chinese market slowdown. Meanwhile, it lies just -.- points behind China, although it is not expected to improve its third place ranking in the foreseeable future.

...� Business Monitor International Ltd Page - helped cushion the effects of a more challenging competitive environment in ----, the situation is unlikely to continue in the long-run. Indeed, in recent years the Ministry of Economy, Trade and Industry (METI) has called on producers to close or curtail production. In keeping with these plans, Sumitomo Chemical closed its ---,---tpa naphtha cracker at Chiba, although downstream facilities remained in operation with feed from the nearby ---,---tpa Keiyo Ethylene cracker. Further cuts are expected through the consolidation of operations by Asahi Kasei and Mitsubishi Chemical, which will see two ---,---tpa crackers merged into one ---,---tpa cracker with a net loss of ---,---tpa capacity. Even with recent shutdowns, METI forecasts excess ethylene output capacity of -.-mn tpa by ----. ...Polyethylene (PE) and polypropylene (PP) plant closures may also be required to address the weakened demand picture and the supply/demand imbalance in the major polymers. The performance of the HDPE segment was largely unaffected by the decision by Japan Polyethylene, a joint venture between Japan Polychem and Chisso Corp, to close its --,---tpa line at Kawasaki in April ---- as part of its rationalisation programme, reducing the company s total HDPE capacity to ---,---tpa.

...The government is seeking to cut refinery capacity to increase the sector s efficiency, which will impact on local naphtha availability, potentially driving up feedstock prices and undermining cracker margins. Lower crude prices have helped reduce oil refinery costs and the weaker yen has made locally sourced naphtha more attractive. ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "Japan Petrochemicals Report 2016" Dec 05, 2015. Alacra Store. Oct 22, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Japan-Petrochemicals-Report-2016-2026-693>
Business Monitor International - Industry Reports. (2015). Japan Petrochemicals Report 2016 Dec 05, 2015. New York, NY: Alacra Store. Retrieved Oct 22, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Japan-Petrochemicals-Report-2016-2026-693>
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