摘要

The Sector At A Glance

Key Insights On The Petrochemicals Sector Of Taiwan

Industry Overview

The petrochemicals industry in Taiwan has made a significant contribution to the country’s economic development. However, the industry faces a lot of competition from regional producers that possess larger domestic markets and relatively lower labour costs. Furthermore, Taiwan’s exports are extremely dependent on the Chinese market. Therefore, to reduce the risk of overdependence on China, the domestic petrochemicals producers have been advised to diversify their markets.

Industry Developments

Nan Ya Plastics reported plans to invest US$110mn for expanding its Kunshan production site in eastern China. The company plans to increase the yearly glass yarn capacity of the Kunshan plant by around 38,000 tonnes. Nan Ya also plans to invest around US$90mn in a new plant for tolyl diisocyannate (TDI) to cope with the urgent demand. Taiwan’s China American Petrochemical (CAPCO) is likely to cap the production rates of its purified terephthalic acid (PTA) lines at 70%.

New Regulations

New guidelines governing the Taiwanese refiners will come into effect on January 1, 2007. Reduction of maximum allowable sulphur content to 50 parts per million (ppm) from 180 ppm, is a key requirement. The guidelines, broadly in line with the European Union’s (EU) Auto Oil II gasoline specifications, conform to the government's medium-term domestic environmental standards for petroleum products.

Impact of Plant Start-ups In The Middle East

The high oil prices and ethylene plant start-ups in the Middle East are expected to adversely affect the revenues of the Taiwanese petrochemical players. Producers expect a fall of around 15% in ethylene/naphtha cracker spreads for 2007 and 2008. The Taiwan producers are facing the same challenges being confronted by other Asian players, especially Korea, Indonesia, Malaysia and Thailand. A primary concern is Saudi Arabia’s new ethylene capacity.

目录及图表

Chapter 1 - Executive Summary

Industry Overview

Industry Developments

New Regulations

Impact Of Plant Start-ups In The Middle East

Chapter 2 - SWOT Analysis

Taiwan Petrochemicals Industry SWOT

Taiwan Business Environment SWOT

Taiwan Economic SWOT

Chapter 3 - Market Overview

Production

Industry Estimates

Taiwan commodity polymer exports – February - July 2006 (in tonnes)

Market Structure

Table: Petrochemicals Sector – Cracker Capacity Data & Forecasts ('000 tpa)

Chapter 4 - Industry Trends And Developments

Repair and Maintenance Shutdowns

Other Projects

Expansion Plans Of FPG And Its Subsidiaries

New Regulations

Chapter 5 - Industry Forecast Scenario

Impact Of Plant Start-ups In The Middle East

Ethylene Influx Expected In 2007

Table: Taiwan Historical Data and Sector Forecasts

Chapter 6 - Economic Outlook

Table: Population & Output

Chapter 7 - Company Monitor

Formosa Plastics Group

Chinese Petroleum Corporation (CPC)

Taiwan Styrene Monomer Corporation

USI Corporation

BASF Taiwan

Chapter 8 - BMI Forecast Modelling

How we generate our industry forecasts

Chemicals & Petrochemicals Industry

Plant capacity

Chemicals supply

Chemicals demand

Cross checks