Global Data, the industry analysis specialist, has released its latest research, “Petrochemical Industry – Key Geographies Experiencing Change in Feedstock Scenario”. The study, which is an offering from the company’s Petrochemical Research Group, provides an in-depth analysis of the petrochemical feedstock supply scenario in the key geographies.
It explains the reasons for decrease in supply of ethane feedstock in geographies such as the Middle East and Canada. It also explains the impact of new oil and gas discoveries on the petrochemicals industries in the countries such as the US, Brazil and Canada.
The study provides the basic petrochemicals (ethylene, propylene, butadiene, benzene, toluene, xylenes and methanol) capacity split by feedstock for all the five regions. The report highlights the change in the supply trend of petrochemical feedstock sources such as natural gas and crude oil. The report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by Global Data’s research team of industry experts.
The petrochemicals feedstock supply trend in the major geographies has change in the recent past. While the Middle East countries and Canada are facing lower ethane supplies, the US and Brazil have benefited from the discovery of shale gas and pre-salt reserves respectively. The petrochemicals industry in the Middle East is concentrated in Saudi Arabia, Iran and Qatar and use ethane as the petrochemicals feedstock. Securing new ethane supply contract in the Middle East has become increasingly difficult due to high demand from existing petrochemical plants and the power sector. Due to this many planned petrochemical plants in the region are based on naphtha feedstock.
The natural gas production in Saudi Arabia, Iran and Qatar is increasing at a rapid pace but it is not sufficient o fulfill the requirement from petrochemicals industry. The natural gas production in Saudi Arabia and Iran increased at a Compound Annual Growth Rate (CAGR) of 5.4% and 8.7% respectively. However ethylene capacity in Saudi Arabia and Iran increased at CAGR of 8.1% and 23.1% respectively. Qatar has already imposed a moratorium on its North Dome gas field which has restricted ethane production. Canada is also facing lower ethane production due to lower natural gas supply from Western Canadian Sedimentary Basin (WCSB). The Canadian petroleum industry, however, has also discovered bituminous oil reserve which accounted for more than 50% of its crude oil production in 2010.
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The Canadian petrochemical industry is now focusing on meeting its future feedstock requirement from these bituminous reserves.
Contrary to the Middle East, where ethane feedstock is becoming scarcer, the US, Brazil and a few European countries have discovered new feedstock sources.
The US holds a huge natural gas reserve in the shale rocks which has increased the natural gas supply in the country in the last five years. Many of these reserves contain wet natural gas which would enhance the ethane supply in the country. Brazil has also started the crude oil production from the newly discovered pre-salt reserves and expects to become one of the largest producers of crude oil in the future. Increased crude oil supply will simultaneously enhance naphtha production from Brazil. Shale reserves have been identified in Europe also but there is not significant progress in developing these reserves except in Poland where the commercial production is expected to start in 2015.
Reasons to buy
- The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to –
- Understand the impact of feedstock usage on the petrochemicals production in various geographies
- Develop business strategies with the help of specific insights on feedstock supply scenario in the global petrochemicals industry
- Identify opportunities in the Middle East, European, the US, Canadian and Brazilian petrochemical industries
- Identify prospective investment targets through updates on petrochemicals feedstock usage and discussion on newer feedstock sources
- Increase future revenue and profitability with the help of insights on the future opportunities and critical success factors in the global petrochemical industry
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1 Table of Contents 3
1.1 List of Tables 5
1.2 List of Figures 6
2 Introduction 7
2.1 Overview 7
2.2 Global Data Report Guidance 8
3 Crude Oil and Natural Gas Fractions are the Major Source of Petrochemicals and Control the Feedstock Supply Dynamics 9
3.1 Steam Cracking is the Dominant Technology Used for the Production of Basic Petrochemicals Worldwide 9
3.2 Naphtha Derived Petrochemicals are Sensitive to Crude Oil Price Fluctuations 11
3.3 Natural Gas Liquids (NGLs) are Fractionated from Natural Gas and Used as Feedstock 11
3.4 Coal Usage as Petrochemical Feedstock is Concentrated in China 12
4 The Global Petrochemical Industry is Dominated by Naphtha Followed by Natural Gas 13
4.1 Development of Crude Oil Refineries Resulted in Naphtha-Based Petrochemical Industry in Asia Pacific 14
4.2 Natural Gas Reserves in North America Provide Ethane Feedstock for the Petrochemical Industry 15
4.3 Europe Petrochemical Industry Relies on Crude Oil Imports for Naphtha Feedstock 16
4.4 Natural Gas is a Dominant Feedstock in the Middle East Due to its Easy Availability and Lower Cost 17
4.5 The South and Central American Petrochemical Industry Uses Diversified Feedstock Slate 19
5 Middle East Petrochemical Industry is Losing the Cheaper Ethane Feedstock Advantage and Shifting to Naphtha Feedstock 20
5.1 Cheaper Ethane Feedstock Led to Rapid Development of the Middle East Petrochemical Industry in the Last Decade 20
5.2 Middle East is Facing Feedstock Supply Constraint due to Inadequate Natural Gas 24
5.3 Increased Ethylene Capacity, OPEC Quota and Underdeveloped Non-Associated Gas Reserves are Creating Scarcity of Ethane in Saudi Arabia 24
5.3.1 OPEC Quota is Limiting the Natural Gas Production in Saudi Arabia 24
5.3.2 Ethane Production is Limited from Non-Associated Gas Reserves Due to High Cost of Production 26
5.3.3 Ethylene Crackers are Driving the Demand for Ethane in Saudi Arabia 27
5.3.4 Increase in the Domestic Demand has Brought Down Saudi Arabia’s Ethane Exports 29
5.4 Natural Gas Production is Unable to Support the Flourishing Petrochemical Industry in Iran 31
5.4.1 Cracker Capacity has Increased at a Faster Pace than Natural Gas Production 31
5.4.2 Mega Petrochemical Complexes in Iran Utilize Gaseous Feedstock 32
5.5 Qatar Natural Gas Production is Restricted Due to Moratorium on Gas-based Industrial Projects 34
5.6 Increasing Demand from Power Sector is Creating Short Supply of Natural Gas for Petrochemical Industry in the Region 36
5.6.1 Power Sector Account for Bulk of the Natural Gas Consumption in the Middle East 36
5.6.2 Increase in Power Consumption is Creating Shortage for Petrochemical Feedstock 37
5.7 Many of the Planned Projects are Utilizing Naphtha as a Major Feedstock Due to Uncertainty over Ethane Supply 41
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