VIETNAM PETROCHEMICAL INDUSTRY

Petrochemical and refining are two areas in the oil and gas processing industry. The size of the petrochemical industry is only about 10% – 15% of the refining industry. However, in terms of value of petrochemical products as raw materials and auxiliary to other industries, it creates much more value. Petrochemical is a heavy industry that plays an important role in the development of many countries around the world, providing a great source of raw materials for many other industries such as plastics, garments, chemicals, etc.

In the 2012-2022 period, global production of primary petrochemical products is expected to grow at a CAGR of 4.29%. By 2017, primary production of petrochemical products will be about 520.4 million tonnes, of which ethylene and methanol will account for the largest share of output. Asia is the world’s largest producer of petrochemical products, with China taking the lead in terms of both production and consumption of petrochemical products.

In the first quarter of 2018, PGPI indicators were cooling down due to the impact of crude oil prices. Currently, almost all petrochemical refineries in Vietnam are supplied by Dung Quat oil refinery of PVN, with the rest coming from Cat Lai refinery. In recent years, Vietnam has also repeatedly launched a series of multi-billion dollar refinery projects.

The demand for petrochemical products is high, but the domestic production capacity can not be met. In recent years, the plastic packaging industry has also grown at an average growth rate of more than 25% per year as food industry grows well. This will be the driving force for domestic petrochemicals as demand grows.

 

Abbreviations
Executive Summary
1. Business environment
1.1 Macroeconomic situation
1.2 Legal Framework
1.3 Impacts of Free Trade Agreement
2. Global petrochemical industry
2.1 Introduction of petrochemicals
2.2 Process and production technology
2.3 Input materials
2.4 Production
2.5 Consumption
2.6 Import – Export
2.7 Price Movement
2.8 Situations in some typical countries
3. Vietnam petrochemical industry
3.1 History of the Vietnam petrochemical industry
3.2 Position of Vietnam petrochemical industry
3.3 Input materials
3.4 Production
3.5 Consumption
3.6 Import – Export
Export
Import
3.7 Price Movement
4. Risk analysis
4.1 Industry risk
4.2 SWOT analysis
5. Industry planning
5.1 Oil & gas industry planning
5.2 Petrochemical industry planning
5.3 Chemical industry planning
6. Outlooks and forecasts
6.1 Outlooks
6.2 Forecast
7. Enterprise analysis
7.1 Enterprises introduction
7.2 Financial analysis
Appendix of financial statements

AGC Vietnam Chemicals Co., Ltd
Polystyrene Vietnam Co., Ltd
TPC VINA Plastics and Chemicals Company Limited
Hung Nghiep Formosa Limited Company
Binh Son Oil Refinery JSC

List of figures
Figure 1: GDP growth rate by quarter, 2015 – Q2/2018
Figure 2: GDP by current price and GDP per capita, 2013 – 6M/2018
Figure 3: VND/USD exchange rates, 2015 – Q2/2018
Figure 4: VND/CNY exchange rates, 2/2016 – 12/2017
Figure 5: FDI attraction by sector, 6M/2018
Figure 6: World natural gas prices, 2012 – 2018
Figure 7: World oil supply, 2006 – Q1/2018e
Figure 8: Oil supply Q2/2018e by region
Figure 9: Natural gas production, 2010 – Q3/2017e
Figure 10: Structure of natural gas production in the world, 2016
Figure 11: World coal production, 2011 – 2016e
Figure 12: World coal reserves up to 2017
Figure 13: Monomer production structure, 2016
Figure 14: Naphtha consumption structure in the world, 2016e
Figure 15: Products obtained from naphtha distillation, 2015
Figure 16: Ethane consumption structure by region, 2016e
Figure 17: Product obtained from Ethane distillation, 2015
Figure 18: World production of petrochemicals, 2012 – 2022e
Figure 19: Production capacity of some basic* petrochemical products by region, 2015 – 2020e
Figure 20: Global ethylene production capacity, 2010 – 2017f
Figure 21: Global ethylene production capacity by region, 2016e
Figure 22: Global Propylene production, 2010 – 2016
Figure 23: Structure of Propylene by region, 2016
Figure 24: Global Butadiene capacity and production, 2011- 2015
Figure 25: Butadiene production structure by country, 2015
Figure 26: Global benzene supply- demand, 2012 – 2017f
Figure 27: Global benzene production capacity, 2016 – 2019e
Figure 28: Global polymer production, 2009 – 2016e
Figure 29: Structure of polymer production by country 2016
Figure 30: Global Ethylene demand, 2010 – 2017f
Figure 31: Production capacity and demand of ethylene by regions, 2015
Figure 32: Application structure of ethylene in the production of plastic materials, 2016
Figure 33: Structure of ethylene dichloride consumption market, 2016
Figure 34: Application structure of Ethylene in the manufacture of plastic materials, 2016
Figure 35: Global propylene demand, 2010 – 2017f
Figure 36: Structure of propylene uses, 2015
Figure 37: Structure of global propylene consumption, 2013
Figure 38: Structure of propylene consumption, 2023e
Figure 39: Structure of butadiene consumption by product, 2017
Figure 40: Structure of global consumption of SBR by region, 2017
Figure 41: Structure of benzene usage in the world, 2015
Figure 42: Structure of VCM consumption by region, 2016e
Figure 43: Demand of Polymer consumption in the world, 2010 – 2017e
Figure 44: Demand of Polymer consumption by region 2016
Figure 45: PP global consumption structure by country 2017
Figure 46: PE demand structure by region 2015
Figure 47: Structure of Polymer consumption by type, 2016
Figure 48: Structure Polymer consumption by field, 2015
Figure 49: Consumption of plastic per capita, 2015
Figure 50: The global ethylene export structure, 2016e
Figure 51: The global ethylene import structure, 2016
Figure 52: Global ethylene trade, 2011 – 2017e
Figure 53: Global propylene trade, 2011 – 2017e
Figure 54: Global benzene trade, 2011 – 2017e
Figure 55: Top the largest exporter of plastics, 2016 – 2017
Figure 56: Top Polymer importer, 2016-2017
Figure 57: Global polymer export, 2012 – 2016e
Figure 58: Top PE importer, 2016-2017
Figure 59: Top PE exporter, 2016-2017
Figure 60: Surplus / Global Trade deficit of PE and PP by region, 2017
Figure 61: PGPI World Index, 3/2017 – 3/2018
Figure 62: Average monthly PGPI, 11/2017 – 03/2018
Figure 63: IPEX index of the world and the regions, 2008- 3/2018
Figure 64: Monomer price movement, 2/2016 – 1/2017
Figure 65: Global propylene price, 3/2017 –3/2018
Figure 66: Global ethylene price, 3/2017 – 3/2018
Figure 67: Toluene price movement, 3/2017 – 3/2018
Figure 68: Benzene price movement, 3/2017 – 3/2018
Figure 69: Butadiene price movement, 5/2015 – 7/2018
Figure 70: Polymer price movement, 5/2015 – 7/2018
Figure 71: Polymer production output of Europe, 2011 – 2017f
Figure 72: Structure of polymer usage in Europe by sector, 2016
Figure 73: Polymer demand in Europe by country, 2016
Figure 74: Structure of polymer usage in Europe by type, 2016e
Figure 75: Polymer production in the United States, 2008 – 2017
Figure 76: Ethylene production cost in the United States, 7/2015 – 1/2016
Figure 77: Production and consumption of PVC in China, 2010 – 2025f
Figure 78: Forecast of coal supply and demand, 2015 – 2030
Figure 79: Coal price movement, 10/2012 – 5/2018
Figure 80: Exploration ore reserves in 2014
Figure 81: Forecast of ore demand for fertilizer, 2015 – 2030
Figure 82: Natural gas consumption of Vietnam, 2010 – 6M/2018
Figure 83: Crude oil consumption of Vietnam, 2010 – 6M/2018
Figure 84: Natural gas use structure, 2017e
Figure 85: Production and demand of LPG, 2009 – 6T./2018
Figure 86: Structure of LPG consumption, 2016
Figure 87: Polymer production in Vietnam, 2010 – 6M/2018
Figure 88: Polypropylene Supply & Demand in Vietnam, 2010/ – 6M/2018e
Figure 89: Production output and consumption of Binh Son petrochemical refinery, 2013 – 9M / 2017
Figure 90: Production of plastic resins and additives in some provinces, 6M / 2018
Figure 91: Revenue structure of petrochemical consumer groups,  2016
Figure 92: Polymer consumption in Vietnam, 2010 – 2018e
Figure 93: Structure of polymer consumption by application, Q1/2018e
Figure 94: Polymer export value, 2012 – 6M/2018e
Figure 95: Export structure of polymer by type, 2018
Figure 96: Export structure of PE by type, 6M/2017e
Figure 97: Export value of PP and PE, 2012 – 2018
Figure 98: Structure of PE export market, 6M/2017e
Figure 99: Polymer import, 2012 – 6M/2018
Figure 100: Top exporting enterprises of PE, 6M/2017e
Figure 101: Top exporting enterprises of PP, 6M/2017e
Figure 102: Import of some monomers, 2012 – 6M/2017e
Figure 103: Polymer import, 2012 – 2017e
Figure 104: Import of some aromatic compounds, 2013 – 6M/2017e
Figure 105: Proportion of top importing enterprises of plastic raw materials, 9M/2018
Figure 106: Import structure of polymer by type, 2018
Figure 107: PE import market, 6M/2017e
Figure 108: Import structure of PE by type, 6M/2017e
Figure 109: Polymer domestic price movement, 7/2016 – 6/2017
Figure 110: Forecasts for GDP growth and some industries, 2014 – 2018f
Figure 111: Growth of global PP and PE consumption demand, 2014 – 2019
Figure 112: Forecast of production capacity of PP and PVC, 2016 – 2021f
Figure 113: Gross profit margin, 2016-2017
Figure 114: Selling expenses/Net revenue ratio 2016-2017
Figure 115: Administrative and general expenses/ net revenue 2016-2017
Figure 116: Self-financing ratio, 2016-2017
Figure 117: Solvency, 2016-2017
Figure 118: Average number of days of inventory, 2016-2017
Figure 119: Average number of days of receivable, 2016-2017
Figure 120: Profit Ratio, 2016 – 2017

List of tables
Table 1: Butadiene production capacity of some companies in the world
Table 2: Price movement of some of the global petrochemical products, 11/2017 – 3/2018
Table 3: Petrochemical refining projects are underway in  Vietnam
Table 4: Petrochemical projects are expected to come into operation, 2017 – 2018
Table 5: Consumption of other petrochemical products, 2012 – 2016e
Table 6: Application of some petrochemical products
Table 7: Import of some polymers, 2012 – 6M/2018e
Table 8: Oil refinery projects, 2011 – 2020
Table 9: Forecast of demand for tires in Vietnam, 2013 – 2018f
Table 10: Capacity to produce some basic chemicals (Ethylene, Propylene, Methanol, Benzene, Paraxylene, Chlorine)
Table 11: Some petrochemical refining projects are being implemented in Vietnam, 2010 – 2020
Table 12: Top of large company in Vietnam petrochemical industry