New Market Research Report: Belgium Oil & Gas Report Q4 2016

Fast Market Research recommends “Belgium Oil & Gas Report Q4 2016” from Business Monitor International, now available

New Market Research Report: Belgium Oil & Gas Report Q4 2016 2016-12-30 13:59:21

The Belgian economy has enjoyed a relatively stronger economic recovery than other eurozone member states, which has lifted its plastic and rubber output. However, the high degree of financial and trade integration with the eurozone mean the economy is highly exposed to a regional downturn, and the impact of Brexit and this instability will be reflected in Belgium’s petrochemicals outlook.

Belgium benefits from a massive, highly integrated refining and petrochemicals hub in and around the Port of Antwerp, which is the lynchpin of both the country’s export-oriented manufacturer sector and the supplier of energy resources and derivatives to neighbouring countries. In the first eight months of 2016, the plastic and rubber sectors performed better than they had in 2015 with growth of 2.0% and 4.8% respectively, although chemicals output fell by a further 4.1%, marking a second successive year of decline.

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The attractiveness of the Belgian petrochemicals industry and growth in European propylene demand has prompted Borealis to look to create an on-purpose propylene investment at Kallo, near Antwerp. In September 2016, Borealis announced a feasibility study for a new, world-scale propane dehydrogenation (PDH) plant, which is due to be concluded in mid-2017 with a final investment decision in Q318 and potential start-up in H221. The new PDH plant would have a targeted production capacity of 740,000 tonnes per annum (tpa), making it one of the largest PDH facilities in the world. The Borealis Kallo location has been chosen due to its excellent logistical position and its experience in propylene production and handling.

In 2016, Belgium had ethylene capacity of 2.54mn tpa with intermediate and aromatics capacities of 870,000tpa benzene, 890,000tpa ethylbenzene, 1.94mn tpa ethylene dichloride, 810,000tpa vinyl chloride monomer and 600,000tpa xylenes. In terms of polymers, Belgium has capacities of 1.64mn tpa high density polyethylene, 930,000tpa low density polyethylene, 2.1mn tpa polypropylene, 475,000tpa polyvinyl chloride and 645,000tpa polystyrene. These capacities are unlikely to change over the next five years.

A major challenge could come from outside Europe with Belgium’s Port of Antwerp becoming the favoured point of entry for Iranian petrochemicals, which are set to flood the global market when sanctions are due to be lifted some time in 2016. Iranian polymers are likely to be more competitively priced, and with Europe a major target market, prices of basic polymers are expected to be depressed further. While low naphtha – 70% of total feedstock – protected Belgian margins in 2015, lower product prices could squeeze profits and undermine operations.

Belgium scores 71.4 points in BMI’s Europe Risk/Rewards Index for the petrochemical industry, a decline of 0.8 points since the previous year due to a significant decline in its country and market risk ratings. Nevertheless, it retained its fourth place in the European rankings, 0.2 points behind the UK and 0.1 point ahead of France. While it is unlikely to rise up the rankings over coming quarters, it could increase its lead over neighbouring France where capacities are in the process of being cut.

The Belgium Petrochemicals Report has been researched at source, and features BMI Research’s market assessment and independent forecasts for key petrochemicals sub-sectors. The report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing companies by products and services, sales, market share, investments, projects, partners and expansion strategies.

BMI’s Belgium Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Belgian petrochemicals industry.

Key Benefits

Benchmark BMI’s independent petrochemicals industry forecasts to test other views – a key input for successful budgetary and planning in the Belgian petrochemicals market.

Target business opportunities and risks in the Belgian petrochemicals sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Belgium.

Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).


BMI Industry View

Summary of BMI�s key industry forecasts, views and trend analysis, covering the petrochemicals markets, regulatory changes, major investments, projects and company developments.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the petrochemicals sector and within the broader political, economic and business environment.

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI’s country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

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