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Malaysia Petrochemicals Report 2012
Business Monitor International, Nov 2011, Pages: 58
Business Monitor International's Malaysia Petrochemicals Report provides industry professionals and strategists, corporate analysts, petrochemical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Malaysia's petrochemicals industry.
Malaysian petrochemicals capacities are set to surge amid a new wave of investment throughout the petrochemicals chain, including further diversification into speciality products, according to BMI’s latest Malaysia Petrochemicals Report.
The sector received a significant boost over 2011 with planned investment focused on three major basic chemicals complexes, including a PE and PP complex planned by Bahrain’s Burel Industries for completion in 2013-14, Petronas Chemicals’ planned 3mn tpa petrochemicals complex due to be completed in 2016, and Gulf Asian Petroleum’s 150,000-200,000b/d refinery and associated PP plant due to come onstream by 2016, subject to financial closure.
Further downstream, BASF Petronas Chemicals is considering a US$1.3bn project to manufacture C4- based specialties and a superabsorbent polymers plant. Domestic gas production is encouraging growth in the fertiliser industry, with Petronas Chemicals’ Sabah Ammonia Urea (Samur) project, with capacities of 2,100tpd ammonia and 3,500tpd urea using gas feedstock from Sabah’s offshore wells. Malaysia is diversifying production, with investment in speciality chemical products and Solutia is planning a polyvinyl butyral (PVB) resin project in Kuantan. Japan’s Polyplastics is also planning a 90,000tpa Duracon polyacetal engineering plastics plant at its Kuantan complex, lifting polyacetal capacity at the complex to 120,000tpa.
The development of Malaysia’s petrochemicals sector through volume growth, diversification of the products base and a move into the high-value and premium specialtiy chemicals market, marks the country out as a leader in the Southeast Asian petrochemicals sector. By 2016, based on announced projects, Malaysia’s ethylene capacity will rise by 86% to 3.24mn tpa and 27% growth in propylene capacity to 1.43mn tpa. In the polymers sector, PE capacities will more than double to 1.98mn tpa and PP will grow 125% to 1.26mn tpa. The fertiliser sector will also see 57% growth in ammonia to 2.07mn tpa and 97% growth in urea to 2.64mn tpa.
Malaysia ranks seventh place in BMI’s Petrochemicals Business Environment Ratings for Asia with 65.4 points, up 1.9 points since 2011 due to improved market risk and growth in petrochemicals capacity. It lies 1.7 points behind Thailand and 1.9 points ahead of Australia. While it has a significant petrochemicals production base, it lags in terms of infrastructure. Nevertheless, oil and gas reserves should sustain some expansion of the country’s petrochemicals sector over the next decade.
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