Table of Contents
Executive Summary
5
SWOT Analysis6
Philippines Petrochemicals Industry SWOT 6
Philippines Political SWOT 6
Philippines Economic SWOT 7
Philippines Business Environment SWOT 7
Global Market Overview8
Global Ethylene Capacities 8
Table: World Ethylene Production By Country, 2008 And 2012 (' 000 Tonnes Capacity) 8
Polypropylene 11
Quarterly Oil Products Price Outlook 14
Table: Oil Product Price Assumptions, Q408-Q409 (US$/bbl) 16
Table: Oil Product Price Forecasts, 2006-2013 (US$/bbl) 17
Emerging Asia Petrochemicals Overview 18
Table: Asian Ethylene Projects 20
Philippines Market Overview 21
Table: Value Of Net Sales Growth By Segment, 2008 (% y-o-y) 21
Table: Production Capacity Utilisation By Segment, 2008 (%) 22
Market Structure 22
Petrochemicals Business Environment25
Table: Asia Pacific Petrochemicals Business Environment Ratings 25
Limits Of Potential Returns 25
Risks To Realisation Of Returns 26
The Philippines Business Environment Outlook 27
Table: BMI' S Business And Operational Risk Ratings 29
Institutions 30
Table: BMI' s Legal Framework Ratings 30
Infrastructure 33
Table: Labour Force Quality 35
Market Orientation 36
Table: Asia' s FDI Annual Inflows, 2006-2007 37
Table: Philippines' Top Export Destinations, 2001-2007 (US$mn) 38
Tax Regime 38
Operational Risk 39
Foreign Direct Investment And Trade Relations 40
Table: BMI' s Asia Pacific Trade Ratings 42
Industry Trends And Developments 43
Upstream 45
Financial Results 46
Industry Forecast Scenario 48
Table: Philippines' Petrochemicals Sector, 2006-2013 49
Macroeconomic Outlook 49
Table: Philippines - Economic Activity, 2006-2013 51
Company Monitor52
BASF Philippines 52
Dow Chemical Philippines 53
Bataan Polyethylene Corporation 53
Tosoh 54
JG Summit Petrochemicals Corp 55
PNOC Petrochemical Development 57
Petron Corporation 58
Country Snapshot: Philippines Demographic Data60
Section 1: Population 60
Table: Demographic Indicators, 2005-2030 60
Table: Rural/Urban Breakdown, 2005-2030 61
Section 2: Education And Healthcare 61
Table: Education, 2002-2005 61
Table: Vital Statistics, 2005-2030 61
Section 3: Labour Market And Spending Power 62
Table: Employment Indicators, 2001-2006 62
Table: Consumer Expenditure, 2007-2012 (US$) 62
Table: Average Annual Manufacturing Wages, 2004-2006 63
BMI Forecast Modelling64
How We Generate Our Industry Forecasts 64
Chemicals And Petrochemicals Industry 64
Cross Checks 65
Business Environment Ratings 66
Table: Petrochemicals Business Environment Indicators And Rationale 66
Weighting 67
Table: Weighting Of Indicators 67
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