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Global Supply and Demand Trends for Petrochemical Products (for the period from 2004 to 2017)

The Study Group on Global Supply and Demand Trends for Petrochemical Products (managed by the Manufacturing Industries Bureau's Chemical Division working as its secretariat, under the Ministry of Economy, Trade and Industry (METI)), has completed a study on trends up to the year 2017 in the global supply and demand of petrochemical products, such as ethylene derivatives, propylene derivatives, and aromatic products (demand, production capacity, and production amount).

Outline

Recently, despite the impact of the global economic slowdown and the continually high prices of oil and petroleum products, demand growth is notable in Asia, especially in China and India. In terms of production, plans for new and additional facilities are expected to continue to be developed, mainly in the Middle East, China, and India. In addition, it is also expected that new and additional petrochemical plants in the U.S. will be developed specifically where shale gas is utilized as a raw material. In terms of demand, the ratio of demand in Asia, particularly in China and India, to overall worldwide demand is growing. Thus, the influence of the Asian market on the worldwide market is increasing.

Regarding changes in the supply-demand balance of ethylene derivatives, an excess supply state is expected to continue and from 2014 the excess supply is expected to reach 5 million tons or more, due to the increases in excess supply in the Middle East as well as the increase in ethylene production capacity making use of shale gas in the U.S. As for the supply-demand balance of propylene derivatives, production capacity is expected to continue to increase in Asia and the Middle East and an excess supply situation is expected to persist, while demand strongly grows in China, India, and other regions.

Concerning the future supply-demand balance of petrochemical products, it should be noted that the situation may change according to future world economic trends and plant expansions.

Release Date

April 30, 2013

Division in Charge

Chemicals Division, Manufacturing Industries Bureau

Reference

The Study Group on Global Supply and Demand Trends for Petrochemical Products

  1. In the midst of the changing environment surrounding domestic petrochemical industries, Japan should properly examine and analyze supply and demand trends for petrochemical products inside and outside Japan, leading to the study of business management, policies and other factors focusing on the global environment. From this viewpoint, the Ministry of Economy, Trade and Industry (METI) created the "Study Group on Global Supply and Demand Trends for Petrochemical Products" in 1997 (secretariat: Chemicals Division, Manufacturing Industries Bureau, METI; members: people involved in petrochemical industries, finance, trading companies and other areas).
  2. The study group has created a working group exclusively for reviewing and collecting data on forecasts of petrochemical product supply and demand trends, plant operations, and other issues inside and outside Japan for the purpose of creating a report on expected global supply and demand trends for petrochemical products until 2017, including demand, production capacity and production amount.

Note: For details, please visit the following website (in Japanese)

 
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