United Arab Emirates Petrochemicals Report - Business Monitor International - Industry Reports

United Arab Emirates Petrochemicals Report

United Arab Emirates Petrochemicals Report - Business Monitor International - Industry Reports
United Arab Emirates Petrochemicals Report
Published Aug 27, 2016
71 pages — Published Aug 27, 2016
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The UAE s diversification of feedstock with mixed-feed cracker capacity should support competitiveness at a time when external markets are affected by a surge in exports from Saudi Arabia and Iran and diminished import growth in China. Polymer margins have held up in spite of the pressures, but in H--- the UAE faced lower petrochemical product prices, while at the same time its chief rivals are in a better cost position with more competitively priced feedstock. ...Concerns are rising over the future of the Chemaweyaat development with the timing of the first stage - the Tacamool Aromatics Project - slipping from ---- to ----, the withdrawal of Thai joint venture partner Indorama Ventures from the project and lingering uncertainty over the future of the world-scale olefins and derivatives section of the complex. The merger of the of the IPIC and Mubadala sovereign wealth funds could lead to a rationalisation of petrochemicals projects with the potential for the downscaling or cancellation of the Chemaweyaat project; there are already doubts about the world-scale olefins and polymers element of the project, the timeline of which has been dropped in recent announcements by the company. In BMI s Petrochemicals Risk/Reward Index (RRI), the UAE has a score of --.- points, down -.- points since the previous quarter following a reduction in its country risk score amid an economic slowdown, a downturn in external markets - particularly China which is the key export market for Emirati petrochemicals products - and the rising threat of competition from Iran. The country retains its second place in the Middle East and Africa RRI table, --.- points behind Saudi Arabia and -.- points ahead of Iran. A resurgent Iran, with its huge amount of capacity coming onto the market with more competitive prices, threatens to leapfrog the UAE in the rankings.

...Large hydrocarbon reserves provide plenty of cheap feedstock for petrochemicals. Geographically well placed to export to both Europe and to new and emerging Asian markets, such as India and China. ...Expansion plans might miss the current positive petrochemicals climate and come on stream at a low point in the price cycle. Apart from Borouge, the sector has reflected the economy as a whole and attracted little in the way of foreign direct investment. The country faces problems regarding access to EU markets. The EU feels that Middle Eastern governments provide feedstock to domestic firms at a subsidised rate. An extreme climate and a highly saline Arabian Gulf lead to high investments to offset the corrosion caused to petrochemical process facilities.

...All information contained in this publication is copyrighted in the name of Business Monitor International Ltd, and as such no part of this publication may be reproduced, repackaged, redistributed, resold in whole or in any part, or used in any form or by any means graphic, electronic or mechanical, including photocopying, recording, taping, or by information storage or retrieval, or by any other means, without the express written consent of the publisher. ...


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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. "United Arab Emirates Petrochemicals Report" Aug 27, 2016. Alacra Store. Oct 22, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/United-Arab-Emirates-Petrochemicals-Report-2026-524>
Business Monitor International - Industry Reports. (2016). United Arab Emirates Petrochemicals Report Aug 27, 2016. New York, NY: Alacra Store. Retrieved Oct 22, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/United-Arab-Emirates-Petrochemicals-Report-2026-524>
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