VIETNAM PETROCHEMICAL INDUSTRY

Petrochemicals and oil refining are two areas in the oil and gas processing industry. These two areas are two consecutive and intertwined phases of the entire oil and gas processing industry. 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.

Petrochemical inputs are products of the oil and gas industry, namely products of refineries and natural gas processing plants such as naphtha, ethane, propane and LPG. Petrochemical products include primary products such as ethylene, propyl naphthalene, butadiene, benzene, xylene, toluene, methanol … and secondary products such as polyethylene, polypropylene, LDPE, etc. 

In the period 2012-2022, global production of primary petrochemical products is estimated to grow at a CAGR of 4.29%. In 2017, primary production volume of petrochemical products will reach around xxx.x million tons. In 2016, the total output of polymer on the world market will be about 335 million tons, the annual growth rate will be 5.2% in the period 2010 – 2016. Demand for petrochemical products is on the upward trend. 

In general, in 2017, according to the Platts Global Petrochemical Index (PGPI), petrochemical prices rose slightly between January and March, then fell from April to July and rebounded from August to the end of the year. In the first quarter of 2018, PGPI is cooling down due to the impact of crude oil prices. At present, almost all petrochemical refineries in Vietnam are supplied by Dung Quat oil refinery of PVN, with the rest coming from the Cat Lai refinery with a capacity of 2,000 barrels a day. Vietnam’s oil refining capacity could triple in the next five years, from 140,000 barrels per day in 2016 to xxx barrels per day by 2020, with two new refineries Nghi Son (200,000 barrels per day) and Vung Ro (160,720 barrels per day), scheduled to come into operation in 2017 and 2018. 

The demand for petrochemical products is high, but the domestic production capacity can not be met. According to the Vietnam Packaging Association (VIPAS), in recent years, the plastic packaging industry has also grown at an average annual growth rate of more than 25% since the growing of food industry. This will be the driving force for domestic petrochemical industry as demand grows.

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Abbreviations
Executive Summary
1. Business environment
1.1 Macroeconomic situation
1.2 Legal Framework
2. Global petrochemical industry
2.1 Introduction of petrochemicals
2.2 Production
2.3 Consumption
3. Vietnam petrochemical industry
3.1 History of the Vietnam petrochemical industry
3.2 Position of Vietnam petrochemical industry
3.3 Production
3.4 Consumption
3.5 Import – Export
Export
Import
3.6 Price Movement
4. SWOT analysis
5. Industry planning
6. Outlooks
7. Enterprise analysis
7.1 Enterprises introduction
7.2 Financial analysis

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Binh Son Refining and Oil Company Limited
Formosa Hung Nghiep Company Limited
TPC VINA Plastics and Chemicals Company Limited
AGC Vietnam Chemicals Limited Company
Vietnam Polystyrene Limited Company
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List of figures
Figure 1: GDP growth rate by quarter, 2015 – 2017
Figure 2: GDP by current price and GDP per capita, 2013 – 2018
Figure 3: VND/USD exchange rates, 2015 – 2018
Figure 4: VND/CNY exchange rates, 2/2016 – 12/2017
Figure 5: FDI attraction by sector, 2018
Figure 6: World natural gas prices, 2012 – 2018
Figure 7: World production of petrochemicals, 2012 – 2022e
Figure 8: Production capacity of some basic* petrochemical products by region, 2015 – 2020e
Figure 9: Global ethylene production capacity, 2010 – 2016
Figure 10: Global ethylene production capacity by region, 2016e
Figure 11: Global Propylene production, 2010 – 2016
Figure 12: Structure of Propylene by region, 2016
Figure 13: Global Butadiene capacity and production, 2011- 2015
Figure 14: Butadiene production structure by country, 2015
Figure 15: Global benzene supply- demand, 2012 – 2017f
Figure 16: Global benzene production capacity, 2016 – 2019e
Figure 17: Global polymer production, 2009 – 2016e
Figure 18: Structure of polymer production by country 2016
Figure 19: Global Ethylene demand, 2010 – 2016
Figure 20: Production capacity and demand of ethylene by regions 2015
Figure 21: Application structure of ethylene in the production of plastic materials, 2016
Figure 22: Structure of ethylene dichloride consumption market, 2016
Figure 23: Global propylene demand, 2010 – 2016
Figure 24: Structure of propylene uses, 2015
Figure 25: Structure of global propylene consumption, 2013
Figure 26: Structure of propylene consumption, 2023e
Figure 27: Structure of butadiene consumption by product, 2018
Figure 28: Structure of global consumption of SBR by region, 2016
Figure 29: Structure of benzene usage in the world, 2015
Figure 30: Structure of VCM consumption by region, 2016e
Figure 31: Demand of Polymer consumption by region 2016
Figure 32: PP global consumption structure by country 2015
Figure 33: Structure of Polymer consumption by type, 2016
Figure 34: PE demand structure by region 2016
Figure 35: Structure Polymer consumption by field, 2015
Figure 36: Consumption of plastic per capita, 2015
Figure 37: LPG domestic supplier
Figure 38: Polymer production in Vietnam, 2010 – 2018
Figure 39: Polypropylene production outputs, 2010 – 9M/2018
Figure 40: Revenue structure of petrochemical consumer groups, 2016
Figure 41: Polypropylene demand, 2010 – 9M/2017
Figure 42: Polymer consumption in Vietnam, 2010 – 2018e
Figure 43: Structure of polymer consumption by application, Q2/2018e
Figure 44: Polymer export value, 2012 – 2018e
Figure 45: Export structure of polymer by value, 2018
Figure 46: Export structure of polymer by weight, 2018
Figure 47: Export structure of polymer by type, 2018
Figure 48: Export value of PP and PE, 2012 – 2017
Figure 49: Proportion of top 10 exporting enterprises of plastic materials 9M / 2017
Figure 50: Structure of PE export market, 6M/2017e
Figure 51: Structure of PP export market, 6M/2017e
Figure 52: Import of some aromatic compounds, 2013 – 6M/2017e
Figure 53: PE import market, 6M/2017e
Figure 54: Import structure of PE by type, 6M/2017e
Figure 55: PP import market, 6M/2017e
Figure 56: Polymer domestic price movement, 7/2016 – 6/2017
Figure 57: Forecasts for GDP growth and some industries, 2014 – 2018f
Figure 58: Net revenue, 2015 – 2016
Figure 59: Gross profit, 2015 – 2016
Figure 60: Gross profit margin, 2015 – 2016
Figure 61: Solvency, 2015 – 2016
Figure 62: Ability to repay, 2016
Figure 63: Total asset turnover, 2015 – 2016
Figure 64: Fixed asset turnover, 2015 – 2016
Figure 65: Costs of sales, 2015 – 2016
Figure 66: Enterprise cost management, 2015 – 2016
Figure 67: Profitability ratio, 2015 – 2016
List of tables
Table 1: Butadiene production capacity of some companies in the world
Table 2: Petrochemical projects are expected to come into operation, 2017 – 2018
Table 3: Ability to produce domestically meets the needs of some polymers
Table 4: Production output of some other petrochemical products, 2012 – 2016e
Table 5: Consumption of other petrochemical products, 2012 – 2016e
Table 6: Top exporting enterprises of plastic, 3M/2018e
Table 7: Application of some petrochemical products
Table 8: Top exporting enterprises of PP, 3M/2018e
Table 9: Import of some polymer, 2012 – Q1/2018e
Table 10: Proportion of top importing enterprises of plastic raw materials, 3M/2018
Table 11: Top of PE importing enterprises, 3M/2018e
Table 12: Top of PP importing enterprises, 3M/2018e
Table 13: Oil refinery projects, 2011 – 2020
Table 14: Forecast of demand for tires in Vietnam, 2013 – 2018f
Table 15: Top of large company in Vietnam petrochemical industry

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