According to the assessment made by Formosa Plastics (1301) Group, the next wave of economic downturn in the petrochemical industry will wait until after 2010. It is estimated that the new ethylene production capacity in the Middle East and China will be gradually opened between 2010 and 2012. By then, the global ethylene production line will average Capacity utilization will decline.
According to the evaluation of Formosa Plastics Group, the average utilization rate of ethylene production line in the world is 90% as the critical point of observational climate, more than 90% is in the better period, and 90% or less is the downturn period in terms of historical experience. The global minimum average utilization rate of ethylene capacity has dropped to around 80%, the highest level reached 94%.
Formosa Plastics Group executives pointed out that the highest point of this wave of petrochemical industry occurred in 2004, and although the latter economy gradually eased, but the average capacity utilization rate of ethylene production line is still about 90%, considered moderate performance in terms of prosperity, plus China in recent years The economic growth rate can be maintained at about 10%, which will play a supporting role in the growth of demand for the petrochemical industry.
According to the investment plan disclosed by Saudi Arabia and Iran in the Middle East, and the anticipated increase in ethylene production capacity by China, the next wave of ethylene supply increase will take place around 2010 to 2012, but only if the plan for the Middle East must be The schedule was completed and put into production.
For this year, Formosa Plastics Group believes that the profitability of petrochemical raw materials will be better than last year. Due to the decline in international crude oil prices and the launch of its own 6th and 3rd ethylene production capacity, ethylene prices are expected to decline from the high point, which will help reduce raw materials. Cost, increase the profit of production and sales of petrochemical raw materials.
According to the evaluation of Formosa Plastics Group, the average utilization rate of ethylene production line in the world is 90% as the critical point of observational climate, more than 90% is in the better period, and 90% or less is the downturn period in terms of historical experience. The global minimum average utilization rate of ethylene capacity has dropped to around 80%, the highest level reached 94%.
Formosa Plastics Group executives pointed out that the highest point of this wave of petrochemical industry occurred in 2004, and although the latter economy gradually eased, but the average capacity utilization rate of ethylene production line is still about 90%, considered moderate performance in terms of prosperity, plus China in recent years The economic growth rate can be maintained at about 10%, which will play a supporting role in the growth of demand for the petrochemical industry.
According to the investment plan disclosed by Saudi Arabia and Iran in the Middle East, and the anticipated increase in ethylene production capacity by China, the next wave of ethylene supply increase will take place around 2010 to 2012, but only if the plan for the Middle East must be The schedule was completed and put into production.
For this year, Formosa Plastics Group believes that the profitability of petrochemical raw materials will be better than last year. Due to the decline in international crude oil prices and the launch of its own 6th and 3rd ethylene production capacity, ethylene prices are expected to decline from the high point, which will help reduce raw materials. Cost, increase the profit of production and sales of petrochemical raw materials.
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