Chemical Company Analysis (CCA)
Americas – West Europe – Middle East – Asia
Chemical Company Analysis (CCA) Chemical Market Associates, Inc. www.cmaiglobal.com
Independent advisor to petrochemical industry participants in strategic and commercial planning, feasibility and financial studies, due diligence support, competitive and market analysis.
CMAI Headquarters 1401 Enclave Parkway, Suite 500, Houston, TX 77077 Tel: 1-281-531-4660, FAX: 1-281-531-9966
CMAI New York 400 Columbus Ave, Suite 145 South, Valhalla, NY, 10595 Tel: 1-914-579-0010, FAX: 1-914-579-0011
CMAI Asia 20 McCallum Street #17-01, Tokio Marine Centre, Singapore 069046 Tel: 65-6226-5363, FAX: 65-6226-5157 CMAI - China Suite 404, Building B; Golden Eagle Mansion; No. 1518 Minsheng Rd, Pudong New Area Shanghai, PRC 200135; Tel: 86-21-6163-5470, Fax: 86-21-6854-5741
CMAI Europe 14-16 Waterloo Place, 1st Floor, London England SW1Y 4AR Tel: 44-207-930-9818, FAX: 44-207-930-9819
CMAI – Europe GmbH Königsallee 94; D-40212 Düsseldorf, Germany Tel: 49-211-7100810, Fax: 49-211-71008120
CMAI Middle East P.O. Box 500395, Dubai, UAE Tel: 971-4-391-2931, FAX: 971-4-391-6476
CMAI Thailand 123 Vibhavadee-Rangsit Road, Floor 21, B-2101, Jatujak, Bangkok 10900 [email protected]
Independent advisor to petrochemical industry participants in strategic and commercial planning, feasibility and financial studies, due diligence support, competitive and market analysis.
OBJECTIVE The chemical industry has undergone many structural changes in the last decade and will continue to evolve in the twenty-first century as the effects of globalization and industry maturation take hold. The nature of the business is also changing as new alliances are formed, breaking the strict dependence on technology and product line integration as a means of achieving a competitive position in the industry. Participants and observers of the global petrochemical industry, more than ever, need timely and accurate analyses and forecasts to keep ahead of the rapidly changing environment. The Chemical Company Analysis (CCA) is an in-depth assessment of chemical producers aimed at increasing our clients' knowledge and understanding of the chemical industry structure and dynamics. The major objective of the CCA is to evaluate major chemical producers and the business areas/products in which each producer participates and competes in light of the current and forecast global market environment. The 2005 and all subsequent editions of the CCA build on the experience of CMAI’s extensive market and business advisory expertise within the petrochemical industry. CCA clients receive comprehensive, concise and current evaluations and perspectives on key producers in the global chemical industry, focusing on: Competitive positioning • company strategic direction • market orientation/emphasis of competitors • competitor strengths and weaknesses Business area structure/market characterization • sources of competitive advantage • industry structure and capacity • demand and end-use application summaries • market supply/demand forecast • producer-driven market dynamics Manufacturing environment • upstream/downstream integration and effects • intra-company manufacturing synergies • important production positions • historical, current and future production capabilities • participation in subsidiaries and joint ventures 3
Excellence and Experience in Petrochemical Consulting Since 1979.
SCHEDULE
2011/12 Chemical Company Analysis (CCA) BASF (published) Dow Chemical (May 2011) Solvay/Rhodia Styron TPC Group ExxonMobil Chemical Saudi Aramco Siam Cement 2010 Chemical Company Analysis (CCA) Bayer Reliance Sasol SABIC 2009 Chemical Company Analysis (CCA) Ineos* IPIC* (Nova Chemicals/Borealis/Borouge) LyondellBasell* Mitsubishi Chemical Sumitomo Chemical *Includes special financial performance analysis
2006 - 2008 Chemical Company Analysis (CCA) Arkema Braskem ChevronPhillips DuPont Formosa NPC-Iran PetroChina Shell Chemical SINOPEC Titan Total Petrochemicals Westlake 4 Excellence and Experience in Petrochemical Consulting Since 1979.
Reports can be purchased individually or as a set of three company reports. To order, please contact any of the CMAI offices listed on the back of the title page. The individual segments within each analysis shed light on the company’s strategic business position from various angles including: • • •
• •
Strategic Direction offers a concise summary of the key issues impacting the company’s current and future business position Corporate Overview presents company ownership profile, subsidiaries and joint ventures, business structure, analysis of earnings, R&D spending, and capital expenditures Business Position includes company SBUs, product and trademark identification, and key industry segment analyses with identification of major market participants, supply/demand outlook, competitor & portfolio analyses Manufacturing Locations provide the configuration & description of main manufacturing complexes (including subsidiaries & joint ventures), chemical feed/product transfers, and capacity tables Material Flows reveal the level of product integration indicating the surplus/shortfall of major chemical raw materials
A more detailed description of the individual sections together with a sample table of contents is provided on the following pages.
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Excellence and Experience in Petrochemical Consulting Since 1979.
SAMPLE TABLE OF CONTENTS Page INTRODUCTION ............................................................................................................................................. 1 STRATEGIC DIRECTION .............................................................................................................................. 2 Overview ................................................................................................................................................... 2 Financials.................................................................................................................................................. 2 Geographic Presence ................................................................................................................................ 5 Product Mix & Integration...................................................................................................................... 6 Facilities Issues ........................................................................................................................................ 7 Future Investment/Rationalization Plans .............................................................................................. 8 CORPORATE OVERVIEW .............................................................................................................................. 9 Historical Development........................................................................................................................... 9 Business Organization ........................................................................................................................... 10 Geographic Coverage ............................................................................................................................. 16 Research and Development ................................................................................................................... 17 Capital Expenditures.............................................................................................................................. 18 Acquisitions and Divestitures ............................................................................................................... 20 Joint Venture Operations ...................................................................................................................... 21 MAJOR CHEMICAL BUSINESS POSITIONS ........................................................................................... 24 Company Business Position ........................................................................................................... 24 Overview ...................................................................................................................................... 24 Base Chemicals ............................................................................................................................ 24 Polymers....................................................................................................................................... 26 Performance Products ................................................................................................................. 26 Pigments ...................................................................................................................................... 27 Advanced Materials ..................................................................................................................... 27 Polyurethanes .............................................................................................................................. 28 Industry Segment Analysis ................................................................................................................... 29 Ethylene & C2 Derivatives ......................................................................................................... 29 Ethylene ............................................................................................................................ 32 Propylene & C3 Derivatives ....................................................................................................... 38 Propylene .......................................................................................................................... 41 Aromatics & Derivatives ............................................................................................................ 47 Benzene ............................................................................................................................. 49 Cyclohexane ...................................................................................................................... 53 Paraxylene ......................................................................................................................... 57 C4 & Derivatives ......................................................................................................................... 61 Butadiene .......................................................................................................................... 64 MTBE ................................................................................................................................ 69 Maleic Anhydride ............................................................................................................. 74 Polyolefins ................................................................................................................................... 79
6 Excellence and Experience in Petrochemical Consulting Since 1979.
Polypropylene ................................................................................................................... 81 Ethylene Oxide & Derivatives ................................................................................................... 86 Ethylene Oxide ................................................................................................................. 88 Ethylene Glycol ................................................................................................................ 92 Ethanolamines .................................................................................................................. 96 Propylene Oxide & Derivatives ............................................................................................... 100 Propylene Oxide ............................................................................................................. 102 Propylene Glycols ........................................................................................................... 105 Polyether Polyols ............................................................................................................ 107 Isocyanates & Precursors 110 Aniline ............................................................................................................................. 112 Nitrobenzene .................................................................................................................. 115 MDI ................................................................................................................................. 118 Miscellaneous Organics ............................................................................................................ 122 Titanium Dioxide........................................................................................................... 122 Speciality Chemicals ................................................................................................................. 126 Epoxy Resins................................................................................................................... 126 Company Portfolio Analysis................................................................................................................ 130 MAJOR CHEMICAL MANUFACTURING LOCATIONS ..................................................................... 133 Overview ............................................................................................................................................... 133 North America ...................................................................................................................................... 146 United States.............................................................................................................................. 147 Port Neches, TX ............................................................................................................. 147 Port Arthur, TX ............................................................................................................. 151 Odessa, TX ...................................................................................................................... 153 Geismar, LA.................................................................................................................... 155 Conroe, TX ..................................................................................................................... 158 Freeport, TX ................................................................................................................... 160 Longview, TX and Marysville, MI ............................................................................... 162 Alvin, TX and Peru, IL ................................................................................................. 165 Pensacola, FL and St. Louis, MO ................................................................................. 168 Other Locations .............................................................................................................. 170 Canada ...................................................................................................................................... 172 Port Neches, TX ............................................................................................................. 172 Latin America....................................................................................................................................... 173 Brazil .......................................................................................................................................... 174 Tabao de Serra ................................................................................................................ 174 Europe ................................................................................................................................................... 175 France ......................................................................................................................................... 176 Calais ............................................................................................................................... 176 Other Locations .............................................................................................................. 178 Germany ..................................................................................................................................... 179 Osnabruck ....................................................................................................................... 179 Moers ............................................................................................................................... 179 Bergkamen ...................................................................................................................... 179
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Excellence and Experience in Petrochemical Consulting Since 1979.
Deggendorf ..................................................................................................................... 179 Hungary ..................................................................................................................................... 180 Petfurdo ........................................................................................................................... 180 Italy............................................................................................................................................. 181 Scarlino ........................................................................................................................... 181 Other Locations .............................................................................................................. 181 Netherlands ............................................................................................................................... 182 Rozenburg ....................................................................................................................... 182 Spain ........................................................................................................................................... 184 Pamplona ........................................................................................................................ 184 Huelva ............................................................................................................................. 184 Other Locations .............................................................................................................. 184 Switzerland ................................................................................................................................ 185 Monthey .......................................................................................................................... 185 United Kingdom ....................................................................................................................... 186 Wilton.............................................................................................................................. 186 Greatham, Grimsby and Billingham ............................................................................ 189 Whitehaven ..................................................................................................................... 189 Darwen ............................................................................................................................ 189 Africa and Middle East ........................................................................................................................ 190 South Africa ............................................................................................................................... 191 Umbogintwini ................................................................................................................ 191 Asia and the Pacific .............................................................................................................................. 192 Australia ..................................................................................................................................... 193 West Footscray ............................................................................................................... 193 Botany ............................................................................................................................. 196 Other Locations .............................................................................................................. 198 China .......................................................................................................................................... 199 Guangdong ...................................................................................................................... 199 India ........................................................................................................................................... 200 Chennai ........................................................................................................................... 200 Malaysia ..................................................................................................................................... 201 Teluk Kalung.................................................................................................................. 201 MAJOR CHEMICAL MATERIAL FLOWS .............................................................................................. 202 Introduction ......................................................................................................................................... 202 Ethylene ................................................................................................................................................ 203 Propylene .............................................................................................................................................. 207 Benzene ................................................................................................................................................. 211 Aniline .................................................................................................................................................. 215 Ethylene Oxide ..................................................................................................................................... 218 Styrene .................................................................................................................................................. 222 Phosgene ............................................................................................................................................... 225 Overall ................................................................................................................................................... 228
8 Excellence and Experience in Petrochemical Consulting Since 1979.
CONTENTS OVERVIEW Strategic Direction The Strategic Direction section provides CMAI’s evaluation of the company’s position in its various businesses and the direction/opportunities the company is likely to pursue in the near future. The company's competitive position in key chemical business areas is identified and discussed within the global context. By cross-referencing CMAI’s global market analyses with a company’s business positions, based on a quantitative evaluation of site integration, announced expansions/closures, plant age, technology, geographic focus and other factors, CMAI is able to build an overall view of the company’s strengths and weaknesses in select products/business areas as well as its potential future strategic moves. In essence, the merging of market and company analyses allows CMAI to prepare unique evaluations of a company’s potential opportunities and strategic direction supported by rigorous attention to company and product market constraints and opportunities. The section allows clients to gain a quick understanding of not only the present situation, but also the impact of future developments by assessing a company’s opportunities and risks within the framework of CMAI’s outlook for the global petrochemical industry. Presented in an executive summary format, the chapter also includes brief summaries of the major conclusions pertaining to the company’s financials, geographic focus, technology positions, manufacturing sites, as well as future investment/rationalization plans.
Reliance Industries Business Portfolio - Global * High
Terephthalic Acid
LLDPE
Paraxylene
Structural Attractiveness
Polypropylene HDPE Ethylene PVC LDPE
Polyester Filament
Acrylonitrile PET Resin
VCM
Mixed Xylenes
PBR Ethylene Oxide
EDC
Propylene Butadiene
Ethylene Glycol Alkylbenzene
Polyester Staple
Orthoxylene
Benzene Toluene Butene
High * Year 2010 Basis
Business Position
~
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Excellence and Experience in Petrochemical Consulting Since 1979.
Corporate Overview A Corporate Overview provides a broad perspective of the chemical producer beginning with the corporate history and development of the organization into its present-day structure. Major acquisition and divestiture activities impacting the chemical operations of the company are identified, as well as major milestones. This is followed by a description of the company’s business structure and a discussion of the company’s financial results in view of the global petrochemical business cycle and major economic trends. 2010 Sales & EBIT By Segment BASF SE Other
R & D Expenditures BASF SE
Oil & Gas Sales
Agricultural Solutions
EBIT
Billion Euros 1.8
Percent (%) of Sales 8.0
* 2010 estimates based on results through 3rd quarter.
1.6
Functional Solutions
7.0
1.4
Performance Products
6.0
1.2
5.0
1.0
Plastics
4.0 0.8
Chemicals Billion Euros
-5.0
0.0 Billion Euros 70.0
3.0
0.6 Sales And Income From Operations (EBIT) BASF 0.4 SE15.0 5.0 10.0
2.0
~ 0.2
2010 estimates based on results through 3rd quarter.
1.0
* 2010 estimate based on results through 3rd quarter.
0.0
60.0
0.0 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010*
50.0
R&D Expenditures
Percent of Sales
Industry Avg. % of Sales
% of Sales (ex. Oil & Gas)
~
40.0 30.0 20.0 10.0 0.0 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010* Sales
Income from Operations (EBIT)
~
The company's overall operations are characterized by sales and operating performance. Its major chemical business areas are identified and their individual sales performance profiled where possible. The company's geographic coverage and recent developments toward its global participation are reviewed and presented to highlight trends over time. Recent research and development efforts are reviewed in terms of annual dollar spending and direction (e.g., catalysis, life sciences, materials), including an historical perspective of R&D spending. Also, capital expenditures are reviewed, identifying annual dollar spending and the status of major capital projects. Comparisons with industry averages for both R&D spending and capital expenditures offer insight into the company’s strategic focus. An overview of the company’s subsidiaries and joint ventures, including ownership shares and partners, concludes the corporate overview. 10 Excellence and Experience in Petrochemical Consulting Since 1979.
Chemical Business Positions Chemical Business Positions includes a Company Business Overview, an Industry Segment Analysis and a Company Portfolio Analysis. The Company Business Overview provides outlines of the key company business segments and a product/business area profile. It also includes a profile of the company’s market share in these businesses based on global manufacturing capacity. Key products within each business segment are identified along with trademarks where available. End-use applications for the products are provided. The Industry Segment Analysis provides background information on the business areas in which the company participates. This section of the report is organized using CMAI’s standard business area definitions. Information is provided on each overall business area, as well as for each individual major product within each business area. An industry overview block diagram introduces the processing sequences encountered in each business area.
SASOL 2009 GLOBAL CHEMICAL CAPACITY SHARES MEG (67/87) ACETIC ACID (62/96) CAUSTIC (115/530) METHANOL (116/235) CHLORINE (99/544) PHENOL (41/69) ANHYDROUS HCL (82/328) HDPE (55/127) AMMONIA (65/275) PVC (60/224) VCM (64/210) EDC (43/117) LLDPE (29/96) ETHYLENE OXIDE (31/83) POLYPROPYLENE (20/176) PROPYLENE - PG/CG (22/215) MALEIC ANHYDRIDE (30/102) ETHYLENE (18/152) ACRYLIC ACID (14/28) ETHANOLAMINES (16/36) LDPE (12/108) ACRYLATE ESTERS (12/26) ACETONE (12/71) ALKYLPHENOL (6/54) NORMAL BUTANOL (9/42) GLYCOL ETHERS (E) (7/27) ETHOXYLATES (5/75) ALKYLBENZENE (1/49) SECONDARY BUTANOL (3/13) MEK (2/44) MBK (3/21) ISOPROPANOL (4/24) ALPHA OLEFINS (2/39)
Percent Share
0.0
5.0
10.0
Numbers in parenthesis are SASOL's rank and total number of producers in 2009.
15.0
20.0
~
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Excellence and Experience in Petrochemical Consulting Since 1979.
Following this overview, the business area analysis is divided into chemical product profiles, containing analytical segments that assess the business and competitive characteristics of the major chemical products. Each chemical segment comprises two sections: Market Overview and Competitive Positioning.
Market Overview The Market Overview provides an analysis of the developments in demand and supply for each product with special emphasis on the company’s regional market position. Planned strategic moves of the company are assessed within the context of CMAI’s market forecasts and the strength and weaknesses of its competitors. The top ten current global producers are listed on a shareholder basis, indicating the degree of market concentration together with a five-year forward view based on announced capacity projects.
Polyether Polyols Product Profile - BASF
Core Business
Strategy: Modernization & expansion through consolidation; important intermediate for polyurethanes BASF Market Share
BASF Derivatives
Global - 10% North America - 21% South America - 1% West Europe - 11% Northeast Asia - 3%
Applications
MDI/TDI PU Systems
BASF
Main Competitors
Rigid/Flexible Foams Automotive Furniture Soles Regional AssetShoe Distribution &
Dow - 20% Bayer - 18% Shell - 9%
Market Outlook for MDI (Shareholder & Year 2010 Basis)
Annual Avg. Demand Growth Rate (2010 - 2015)* 8.0
Northeast Asia, 274kt
7.0
North America, 290kt
6.0 5.0 4.0
2010 & 2015 World Propylene (PG/CG) Capacity
West Europe, 560kt
3.0
BASF (13/14) Enterprise (11/12) Reliance (10/9)
2015
2.0
2010
1.0
SABIC (9/6)
0.0 77.5 78.0 78.5 Average Operating Rate (2010 - 2015)*
Dow (8/8) Formosa (7/10)
79.0
79.5
* Values are based on CMAI Region & Country Forecasts and are not company-specific
Total (6/7) PetroChina (5/2) ExxonMobil (4/3) Shell Chem. (3/5) LyondellBasell (2/4) SINOPEC (1/1)
0.0 2.0 Million Metric Tons Shareholder Basis, Ranking (2010/2015)
4.0
6.0
8.0
~
12 Excellence and Experience in Petrochemical Consulting Since 1979.
80.0
~
Competitor Position Assessment The Competitor Position Assessment provides an analysis of the competitive position of the major industry producers for each product. The producers are analyzed along two dimensions: manufacturing position and market position. CMAI rates each producer along both dimensions using a quantitative methodology. The methodology employs a set of factors and relative weighting that is designed to reflect the important competitive criteria for each product. Each producer is assigned a quantitative value representing its strength in each competitive criterion. The results are plotted in matrix form using both of the competitive dimensions, with the size of the bubble representing the relative capacity share for the producer.
Propylene Oxide Business Position - Global * * Includes Bayer's interest in the global LBI/Bayer Propylene Oxide joint venture
High Dow
Manufacturing Position
7.0
6.5
6.0
5.0
Shell
BASF
5.5
Ineos
Repsol
Lyondell Basell*
SINOPEC
Huntsman
4.5
Sumitomo 4.0
3.5
Shandong Befar
3.0 4.0
4.5
* Year 2010 Basis
5.0
Sunkyong Industries 5.5
6.0
6.5
Market Position
7.0
High
7.5
8.0
~
The Company Portfolio Analysis provides a summary assessment of the company’s industry position and a corresponding evaluation of the structural attractiveness of each product area (see chart on page 9). The quantitative analysis of a company’s portfolio is then assessed in light of current and future market developments and strategic business plans announced by the company under review.
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Excellence and Experience in Petrochemical Consulting Since 1979.
Major Chemical Manufacturing Locations Major Chemical Manufacturing Locations present the configuration and description of the major global chemical production complexes, which the company operates, including major subsidiaries and joint ventures. These configurations are presented in block flow form, detailing major material flows. Also, intra-company chemical product transfers among the manufacturing sites are identified. Capacities for each of the company’s major products are summarized from both an historical perspective and five-year forecast based on announced expansions and acquisitions. Major Chemical Manufacturing Locations also includes an analysis of the company's material balance for major products and feedstocks showing capacity at each manufacturing location. This analysis is developed at nameplate capacity for each product representative of CMAI's estimate of the business position for the producer, quantifying site shortages/surpluses for each chemical. 0
0
0
Propionaldehyde
Acetaldehyde
0
0
0
Alpha Olefins
Borealis Global Manufacturing Locations 0
0
8
Hexene-1
1590
STEAM CRACKER
I: 3
622
1193
610
705
Ethylene
LDPE, Copolymer
HDPE
E: 195; F: 145; G: 150; H: 120
B:200;C:175;D:120;F :125,85;I:465
Export -1319 1936
0
1880
Propylene
Polypropylene
A: 240; F: 250; G: 223; I: 22
A:300;B:155,240;C: 240,330;E:300,135; G:180
Crude C4s
Butadiene
0
25
Import 0
Toluene
LLDPE
680
D: 120; E: 350; F: 85, 125; I: 155
A Borealis, Antwerp B Borealis, Beringen 0 Burghausen D Borealis, Porvoo 0 E Borealis, Schwechat F Borealis, Stenungsund G Borealis Poly, Porvoo 0 0 0 H Specialty Polymers, Antwerp Nitrile Rubber PB Rubber I Borouge, Ruwais, Abu Dhabi 0 0 J Agrolinz, Linz K Agrolinz, Piesteritz 25
Export 25 116
C4 Hydrogenation
ETBE
F: 116
F: 50
0
776
Oligomers C Borealis,
G: 25
0
16
I: 16
F: 610; G: 380; I: 600
735
Butene-1
Export -984
Import 1002
BTX P ROCESSING
3
Octene-1
I: 8 Import 975
0
50
0
0
r Butadiene Deriva 0
Import 14 150
REFINERY
96
164
Benzene
Cumene
G: 150
G: 245
262
245
Phenol
190
0
0
Bishphenol A
G: 190
0
46 295
0
Cyclohexane
Acetone
A: 240; G: 55
0
G: 118
550
Import Methane 261
0
Propylene
216
Ammonia
Urea
J: 550
375
138
118 Import Phosphoric Acid 48 480
J: 480
J: 70
J: 375
480
70
Ammonium Phos.
Export 0
Import 0 Export 124
13
Nitric Acid
160
Melamine J: 80; K: 80
465
570
Ammonium Nitrate J: 570 Export 0
14 Excellence and Experience in Petrochemical Consulting Since 1979.
Major Chemical Material Flows (Product Integration) CMAI tailors its capacity database to provide several important views of the company's operations. This involves the evaluation of the material balance around important first- and second-line derivatives (e.g., ethylene, ethylene oxide, etc.). The results, indicating surplus, deficit or balanced positions, shed light on the degree of integration along major product chains. The information, including a five-year forecast view, is presented graphically and tabulated by company and location as well as by derivative application.
BAYER'S CHLORINE PRODUCTION & DERIVATIVE CONSUMPTION CAPACITY BY REGION - 2010
Bayer CHLORINE INTEGRATION FOR 2010 (-000- METRIC TONS)
Million Metric Tons 1.4 MDI 1.2
CAPACITY TO CONSUME CHLORINE Chlorine
TDI
SHAREHOLDER
OWNERSHIP
Capacity
Poly MDI
TDI
Carbonate
NET
NORTH AMERICA
Polycarbonate 1.0
LOCATION
UNITED STATES
Chlorine Production
Bayer
Baytown, TX
100.0%
TOTAL - United States
0.8
TOTAL - North America
310
165
198
80
(133)
310
165
198
80
(133)
310
165
198
80
(133)
SOUTH AMERICA
0.6
BRAZIL Bayer
0.4
----
25
----
----
(25)
TOTAL - Brazil
----
25
----
----
(25)
TOTAL - South America
Belford Roxo, RJ
----
25
----
----
(25)
----
----
----
61
(61)
----
----
----
61
(61)
99
113
0.2
100.0%
WEST EUROPE BELGIUM Bayer
0.0 North America South America West Europe Northeast Asia Southeast Asia
Antwerp
100.0%
TOTAL - Belgium
Asia (To Be Announced)
GERMAN FEDERAL REPUBLIC
~
BAYER'S REGIONAL CHLORINE SURPLUS & DEFICIT
Bayer
Brunsbuttel
100.0%
190
Bayer
Dormagen
100.0%
448
----
54
----
394
Bayer
Krefeld
100.0%
220
110
----
----
110
Leverkusen
100.0%
Uerdingen
100.0%
2015 Bayer 2010 Bayer
Asia (To Be Announced)
TOTAL - German Federal Republic
329
----
----
(22)
----
----
329
----
----
----
101
(101)
1,187
209
167
101
710
SPAIN
Southeast Asia
Bayer
Tarragona, TG
100.0%
----
83
----
----
(83)
----
83
----
----
(83)
1,187
292
167
162
567
(51)
TOTAL - Spain
TOTAL - West Europe
Northeast Asia
NORTHEAST ASIA CHINA
West Europe
Bayer Poly Shanghai
Caojing, Shanghai
100.0%
----
----
----
51
Bayer Polyurethanes
Caojing, Shanghai
100.0%
215
193
----
----
23
215
193
----
51
(28)
TOTAL - China
JAPAN
South America
2010 Global Surplus = 270 Sumika Bayer Ureth. Thousand Metric Tons TOTAL - Japan
North America
2015 Global Deficit = 282 Thousand Metric Tons
Niihama
60.0%
TOTAL - Northeast Asia
29
----
----
----
29
----
----
(29)
215
----
221
----
51
(57)
(29)
83
(83)
SOUTHEAST ASIA THAILAND
(400)
(200)
0
200
-000- Metric Tons
400
600
Bayer 800
----
----
----
TOTAL - Thailand
----
----
----
83
(83)
TOTAL - Southeast Asia
Map Ta Phut, Rayong
100.0%
----
----
----
83
(83)
1,712
702
365
375
270
~
WORLD WORLD TOTAL
Note: Capacities are pro-rated for Bayer's ownership share.
15
Excellence and Experience in Petrochemical Consulting Since 1979.
Chemical Company Analysis (CCA) Chemical Market Associates, Inc. www.cmaiglobal.com
Independent advisor to petrochemical industry participants in strategic and commercial planning, feasibility and financial studies, due diligence support, competitive and market analysis.
CMAI Headquarters 1401 Enclave Parkway, Suite 500, Houston, TX 77077 Tel: 1-281-531-4660, FAX: 1-281-531-9966
CMAI New York 400 Columbus Ave, Suite 145 South, Valhalla, NY, 10595 Tel: 1-914-579-0010, FAX: 1-914-579-0011
CMAI Asia 20 McCallum Street #17-01, Tokio Marine Centre, Singapore 069046 Tel: 65-6226-5363, FAX: 65-6226-5157 CMAI - China Suite 404, Building B; Golden Eagle Mansion; No. 1518 Minsheng Rd, Pudong New Area Shanghai, PRC 200135; Tel: 86-21-6163-5470, Fax: 86-21-6854-5741
CMAI Europe 14-16 Waterloo Place, 1st Floor, London England SW1Y 4AR Tel: 44-207-930-9818, FAX: 44-207-930-9819
CMAI – Europe GmbH Königsallee 94; D-40212 Düsseldorf, Germany Tel: 49-211-7100810, Fax: 49-211-71008120
CMAI Middle East P.O. Box 500395, Dubai, UAE Tel: 971-4-391-2931, FAX: 971-4-391-6476
CMAI Thailand 123 Vibhavadee-Rangsit Road, Floor 21, B-2101, Jatujak, Bangkok 10900 [email protected]
Independent advisor to petrochemical industry participants in strategic and commercial planning, feasibility and financial studies, due diligence support, competitive and market analysis.
OBJECTIVE The chemical industry has undergone many structural changes in the last decade and will continue to evolve in the twenty-first century as the effects of globalization and industry maturation take hold. The nature of the business is also changing as new alliances are formed, breaking the strict dependence on technology and product line integration as a means of achieving a competitive position in the industry. Participants and observers of the global petrochemical industry, more than ever, need timely and accurate analyses and forecasts to keep ahead of the rapidly changing environment. The Chemical Company Analysis (CCA) is an in-depth assessment of chemical producers aimed at increasing our clients' knowledge and understanding of the chemical industry structure and dynamics. The major objective of the CCA is to evaluate major chemical producers and the business areas/products in which each producer participates and competes in light of the current and forecast global market environment. The 2005 and all subsequent editions of the CCA build on the experience of CMAI’s extensive market and business advisory expertise within the petrochemical industry. CCA clients receive comprehensive, concise and current evaluations and perspectives on key producers in the global chemical industry, focusing on: Competitive positioning • company strategic direction • market orientation/emphasis of competitors • competitor strengths and weaknesses Business area structure/market characterization • sources of competitive advantage • industry structure and capacity • demand and end-use application summaries • market supply/demand forecast • producer-driven market dynamics Manufacturing environment • upstream/downstream integration and effects • intra-company manufacturing synergies • important production positions • historical, current and future production capabilities • participation in subsidiaries and joint ventures 3
Excellence and Experience in Petrochemical Consulting Since 1979.
SCHEDULE
2011/12 Chemical Company Analysis (CCA) BASF (published) Dow Chemical (May 2011) Solvay/Rhodia Styron TPC Group ExxonMobil Chemical Saudi Aramco Siam Cement 2010 Chemical Company Analysis (CCA) Bayer Reliance Sasol SABIC 2009 Chemical Company Analysis (CCA) Ineos* IPIC* (Nova Chemicals/Borealis/Borouge) LyondellBasell* Mitsubishi Chemical Sumitomo Chemical *Includes special financial performance analysis
2006 - 2008 Chemical Company Analysis (CCA) Arkema Braskem ChevronPhillips DuPont Formosa NPC-Iran PetroChina Shell Chemical SINOPEC Titan Total Petrochemicals Westlake 4 Excellence and Experience in Petrochemical Consulting Since 1979.
Reports can be purchased individually or as a set of three company reports. To order, please contact any of the CMAI offices listed on the back of the title page. The individual segments within each analysis shed light on the company’s strategic business position from various angles including: • • •
• •
Strategic Direction offers a concise summary of the key issues impacting the company’s current and future business position Corporate Overview presents company ownership profile, subsidiaries and joint ventures, business structure, analysis of earnings, R&D spending, and capital expenditures Business Position includes company SBUs, product and trademark identification, and key industry segment analyses with identification of major market participants, supply/demand outlook, competitor & portfolio analyses Manufacturing Locations provide the configuration & description of main manufacturing complexes (including subsidiaries & joint ventures), chemical feed/product transfers, and capacity tables Material Flows reveal the level of product integration indicating the surplus/shortfall of major chemical raw materials
A more detailed description of the individual sections together with a sample table of contents is provided on the following pages.
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Excellence and Experience in Petrochemical Consulting Since 1979.
SAMPLE TABLE OF CONTENTS Page INTRODUCTION ............................................................................................................................................. 1 STRATEGIC DIRECTION .............................................................................................................................. 2 Overview ................................................................................................................................................... 2 Financials.................................................................................................................................................. 2 Geographic Presence ................................................................................................................................ 5 Product Mix & Integration...................................................................................................................... 6 Facilities Issues ........................................................................................................................................ 7 Future Investment/Rationalization Plans .............................................................................................. 8 CORPORATE OVERVIEW .............................................................................................................................. 9 Historical Development........................................................................................................................... 9 Business Organization ........................................................................................................................... 10 Geographic Coverage ............................................................................................................................. 16 Research and Development ................................................................................................................... 17 Capital Expenditures.............................................................................................................................. 18 Acquisitions and Divestitures ............................................................................................................... 20 Joint Venture Operations ...................................................................................................................... 21 MAJOR CHEMICAL BUSINESS POSITIONS ........................................................................................... 24 Company Business Position ........................................................................................................... 24 Overview ...................................................................................................................................... 24 Base Chemicals ............................................................................................................................ 24 Polymers....................................................................................................................................... 26 Performance Products ................................................................................................................. 26 Pigments ...................................................................................................................................... 27 Advanced Materials ..................................................................................................................... 27 Polyurethanes .............................................................................................................................. 28 Industry Segment Analysis ................................................................................................................... 29 Ethylene & C2 Derivatives ......................................................................................................... 29 Ethylene ............................................................................................................................ 32 Propylene & C3 Derivatives ....................................................................................................... 38 Propylene .......................................................................................................................... 41 Aromatics & Derivatives ............................................................................................................ 47 Benzene ............................................................................................................................. 49 Cyclohexane ...................................................................................................................... 53 Paraxylene ......................................................................................................................... 57 C4 & Derivatives ......................................................................................................................... 61 Butadiene .......................................................................................................................... 64 MTBE ................................................................................................................................ 69 Maleic Anhydride ............................................................................................................. 74 Polyolefins ................................................................................................................................... 79
6 Excellence and Experience in Petrochemical Consulting Since 1979.
Polypropylene ................................................................................................................... 81 Ethylene Oxide & Derivatives ................................................................................................... 86 Ethylene Oxide ................................................................................................................. 88 Ethylene Glycol ................................................................................................................ 92 Ethanolamines .................................................................................................................. 96 Propylene Oxide & Derivatives ............................................................................................... 100 Propylene Oxide ............................................................................................................. 102 Propylene Glycols ........................................................................................................... 105 Polyether Polyols ............................................................................................................ 107 Isocyanates & Precursors 110 Aniline ............................................................................................................................. 112 Nitrobenzene .................................................................................................................. 115 MDI ................................................................................................................................. 118 Miscellaneous Organics ............................................................................................................ 122 Titanium Dioxide........................................................................................................... 122 Speciality Chemicals ................................................................................................................. 126 Epoxy Resins................................................................................................................... 126 Company Portfolio Analysis................................................................................................................ 130 MAJOR CHEMICAL MANUFACTURING LOCATIONS ..................................................................... 133 Overview ............................................................................................................................................... 133 North America ...................................................................................................................................... 146 United States.............................................................................................................................. 147 Port Neches, TX ............................................................................................................. 147 Port Arthur, TX ............................................................................................................. 151 Odessa, TX ...................................................................................................................... 153 Geismar, LA.................................................................................................................... 155 Conroe, TX ..................................................................................................................... 158 Freeport, TX ................................................................................................................... 160 Longview, TX and Marysville, MI ............................................................................... 162 Alvin, TX and Peru, IL ................................................................................................. 165 Pensacola, FL and St. Louis, MO ................................................................................. 168 Other Locations .............................................................................................................. 170 Canada ...................................................................................................................................... 172 Port Neches, TX ............................................................................................................. 172 Latin America....................................................................................................................................... 173 Brazil .......................................................................................................................................... 174 Tabao de Serra ................................................................................................................ 174 Europe ................................................................................................................................................... 175 France ......................................................................................................................................... 176 Calais ............................................................................................................................... 176 Other Locations .............................................................................................................. 178 Germany ..................................................................................................................................... 179 Osnabruck ....................................................................................................................... 179 Moers ............................................................................................................................... 179 Bergkamen ...................................................................................................................... 179
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Excellence and Experience in Petrochemical Consulting Since 1979.
Deggendorf ..................................................................................................................... 179 Hungary ..................................................................................................................................... 180 Petfurdo ........................................................................................................................... 180 Italy............................................................................................................................................. 181 Scarlino ........................................................................................................................... 181 Other Locations .............................................................................................................. 181 Netherlands ............................................................................................................................... 182 Rozenburg ....................................................................................................................... 182 Spain ........................................................................................................................................... 184 Pamplona ........................................................................................................................ 184 Huelva ............................................................................................................................. 184 Other Locations .............................................................................................................. 184 Switzerland ................................................................................................................................ 185 Monthey .......................................................................................................................... 185 United Kingdom ....................................................................................................................... 186 Wilton.............................................................................................................................. 186 Greatham, Grimsby and Billingham ............................................................................ 189 Whitehaven ..................................................................................................................... 189 Darwen ............................................................................................................................ 189 Africa and Middle East ........................................................................................................................ 190 South Africa ............................................................................................................................... 191 Umbogintwini ................................................................................................................ 191 Asia and the Pacific .............................................................................................................................. 192 Australia ..................................................................................................................................... 193 West Footscray ............................................................................................................... 193 Botany ............................................................................................................................. 196 Other Locations .............................................................................................................. 198 China .......................................................................................................................................... 199 Guangdong ...................................................................................................................... 199 India ........................................................................................................................................... 200 Chennai ........................................................................................................................... 200 Malaysia ..................................................................................................................................... 201 Teluk Kalung.................................................................................................................. 201 MAJOR CHEMICAL MATERIAL FLOWS .............................................................................................. 202 Introduction ......................................................................................................................................... 202 Ethylene ................................................................................................................................................ 203 Propylene .............................................................................................................................................. 207 Benzene ................................................................................................................................................. 211 Aniline .................................................................................................................................................. 215 Ethylene Oxide ..................................................................................................................................... 218 Styrene .................................................................................................................................................. 222 Phosgene ............................................................................................................................................... 225 Overall ................................................................................................................................................... 228
8 Excellence and Experience in Petrochemical Consulting Since 1979.
CONTENTS OVERVIEW Strategic Direction The Strategic Direction section provides CMAI’s evaluation of the company’s position in its various businesses and the direction/opportunities the company is likely to pursue in the near future. The company's competitive position in key chemical business areas is identified and discussed within the global context. By cross-referencing CMAI’s global market analyses with a company’s business positions, based on a quantitative evaluation of site integration, announced expansions/closures, plant age, technology, geographic focus and other factors, CMAI is able to build an overall view of the company’s strengths and weaknesses in select products/business areas as well as its potential future strategic moves. In essence, the merging of market and company analyses allows CMAI to prepare unique evaluations of a company’s potential opportunities and strategic direction supported by rigorous attention to company and product market constraints and opportunities. The section allows clients to gain a quick understanding of not only the present situation, but also the impact of future developments by assessing a company’s opportunities and risks within the framework of CMAI’s outlook for the global petrochemical industry. Presented in an executive summary format, the chapter also includes brief summaries of the major conclusions pertaining to the company’s financials, geographic focus, technology positions, manufacturing sites, as well as future investment/rationalization plans.
Reliance Industries Business Portfolio - Global * High
Terephthalic Acid
LLDPE
Paraxylene
Structural Attractiveness
Polypropylene HDPE Ethylene PVC LDPE
Polyester Filament
Acrylonitrile PET Resin
VCM
Mixed Xylenes
PBR Ethylene Oxide
EDC
Propylene Butadiene
Ethylene Glycol Alkylbenzene
Polyester Staple
Orthoxylene
Benzene Toluene Butene
High * Year 2010 Basis
Business Position
~
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Excellence and Experience in Petrochemical Consulting Since 1979.
Corporate Overview A Corporate Overview provides a broad perspective of the chemical producer beginning with the corporate history and development of the organization into its present-day structure. Major acquisition and divestiture activities impacting the chemical operations of the company are identified, as well as major milestones. This is followed by a description of the company’s business structure and a discussion of the company’s financial results in view of the global petrochemical business cycle and major economic trends. 2010 Sales & EBIT By Segment BASF SE Other
R & D Expenditures BASF SE
Oil & Gas Sales
Agricultural Solutions
EBIT
Billion Euros 1.8
Percent (%) of Sales 8.0
* 2010 estimates based on results through 3rd quarter.
1.6
Functional Solutions
7.0
1.4
Performance Products
6.0
1.2
5.0
1.0
Plastics
4.0 0.8
Chemicals Billion Euros
-5.0
0.0 Billion Euros 70.0
3.0
0.6 Sales And Income From Operations (EBIT) BASF 0.4 SE15.0 5.0 10.0
2.0
~ 0.2
2010 estimates based on results through 3rd quarter.
1.0
* 2010 estimate based on results through 3rd quarter.
0.0
60.0
0.0 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010*
50.0
R&D Expenditures
Percent of Sales
Industry Avg. % of Sales
% of Sales (ex. Oil & Gas)
~
40.0 30.0 20.0 10.0 0.0 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010* Sales
Income from Operations (EBIT)
~
The company's overall operations are characterized by sales and operating performance. Its major chemical business areas are identified and their individual sales performance profiled where possible. The company's geographic coverage and recent developments toward its global participation are reviewed and presented to highlight trends over time. Recent research and development efforts are reviewed in terms of annual dollar spending and direction (e.g., catalysis, life sciences, materials), including an historical perspective of R&D spending. Also, capital expenditures are reviewed, identifying annual dollar spending and the status of major capital projects. Comparisons with industry averages for both R&D spending and capital expenditures offer insight into the company’s strategic focus. An overview of the company’s subsidiaries and joint ventures, including ownership shares and partners, concludes the corporate overview. 10 Excellence and Experience in Petrochemical Consulting Since 1979.
Chemical Business Positions Chemical Business Positions includes a Company Business Overview, an Industry Segment Analysis and a Company Portfolio Analysis. The Company Business Overview provides outlines of the key company business segments and a product/business area profile. It also includes a profile of the company’s market share in these businesses based on global manufacturing capacity. Key products within each business segment are identified along with trademarks where available. End-use applications for the products are provided. The Industry Segment Analysis provides background information on the business areas in which the company participates. This section of the report is organized using CMAI’s standard business area definitions. Information is provided on each overall business area, as well as for each individual major product within each business area. An industry overview block diagram introduces the processing sequences encountered in each business area.
SASOL 2009 GLOBAL CHEMICAL CAPACITY SHARES MEG (67/87) ACETIC ACID (62/96) CAUSTIC (115/530) METHANOL (116/235) CHLORINE (99/544) PHENOL (41/69) ANHYDROUS HCL (82/328) HDPE (55/127) AMMONIA (65/275) PVC (60/224) VCM (64/210) EDC (43/117) LLDPE (29/96) ETHYLENE OXIDE (31/83) POLYPROPYLENE (20/176) PROPYLENE - PG/CG (22/215) MALEIC ANHYDRIDE (30/102) ETHYLENE (18/152) ACRYLIC ACID (14/28) ETHANOLAMINES (16/36) LDPE (12/108) ACRYLATE ESTERS (12/26) ACETONE (12/71) ALKYLPHENOL (6/54) NORMAL BUTANOL (9/42) GLYCOL ETHERS (E) (7/27) ETHOXYLATES (5/75) ALKYLBENZENE (1/49) SECONDARY BUTANOL (3/13) MEK (2/44) MBK (3/21) ISOPROPANOL (4/24) ALPHA OLEFINS (2/39)
Percent Share
0.0
5.0
10.0
Numbers in parenthesis are SASOL's rank and total number of producers in 2009.
15.0
20.0
~
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Excellence and Experience in Petrochemical Consulting Since 1979.
Following this overview, the business area analysis is divided into chemical product profiles, containing analytical segments that assess the business and competitive characteristics of the major chemical products. Each chemical segment comprises two sections: Market Overview and Competitive Positioning.
Market Overview The Market Overview provides an analysis of the developments in demand and supply for each product with special emphasis on the company’s regional market position. Planned strategic moves of the company are assessed within the context of CMAI’s market forecasts and the strength and weaknesses of its competitors. The top ten current global producers are listed on a shareholder basis, indicating the degree of market concentration together with a five-year forward view based on announced capacity projects.
Polyether Polyols Product Profile - BASF
Core Business
Strategy: Modernization & expansion through consolidation; important intermediate for polyurethanes BASF Market Share
BASF Derivatives
Global - 10% North America - 21% South America - 1% West Europe - 11% Northeast Asia - 3%
Applications
MDI/TDI PU Systems
BASF
Main Competitors
Rigid/Flexible Foams Automotive Furniture Soles Regional AssetShoe Distribution &
Dow - 20% Bayer - 18% Shell - 9%
Market Outlook for MDI (Shareholder & Year 2010 Basis)
Annual Avg. Demand Growth Rate (2010 - 2015)* 8.0
Northeast Asia, 274kt
7.0
North America, 290kt
6.0 5.0 4.0
2010 & 2015 World Propylene (PG/CG) Capacity
West Europe, 560kt
3.0
BASF (13/14) Enterprise (11/12) Reliance (10/9)
2015
2.0
2010
1.0
SABIC (9/6)
0.0 77.5 78.0 78.5 Average Operating Rate (2010 - 2015)*
Dow (8/8) Formosa (7/10)
79.0
79.5
* Values are based on CMAI Region & Country Forecasts and are not company-specific
Total (6/7) PetroChina (5/2) ExxonMobil (4/3) Shell Chem. (3/5) LyondellBasell (2/4) SINOPEC (1/1)
0.0 2.0 Million Metric Tons Shareholder Basis, Ranking (2010/2015)
4.0
6.0
8.0
~
12 Excellence and Experience in Petrochemical Consulting Since 1979.
80.0
~
Competitor Position Assessment The Competitor Position Assessment provides an analysis of the competitive position of the major industry producers for each product. The producers are analyzed along two dimensions: manufacturing position and market position. CMAI rates each producer along both dimensions using a quantitative methodology. The methodology employs a set of factors and relative weighting that is designed to reflect the important competitive criteria for each product. Each producer is assigned a quantitative value representing its strength in each competitive criterion. The results are plotted in matrix form using both of the competitive dimensions, with the size of the bubble representing the relative capacity share for the producer.
Propylene Oxide Business Position - Global * * Includes Bayer's interest in the global LBI/Bayer Propylene Oxide joint venture
High Dow
Manufacturing Position
7.0
6.5
6.0
5.0
Shell
BASF
5.5
Ineos
Repsol
Lyondell Basell*
SINOPEC
Huntsman
4.5
Sumitomo 4.0
3.5
Shandong Befar
3.0 4.0
4.5
* Year 2010 Basis
5.0
Sunkyong Industries 5.5
6.0
6.5
Market Position
7.0
High
7.5
8.0
~
The Company Portfolio Analysis provides a summary assessment of the company’s industry position and a corresponding evaluation of the structural attractiveness of each product area (see chart on page 9). The quantitative analysis of a company’s portfolio is then assessed in light of current and future market developments and strategic business plans announced by the company under review.
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Excellence and Experience in Petrochemical Consulting Since 1979.
Major Chemical Manufacturing Locations Major Chemical Manufacturing Locations present the configuration and description of the major global chemical production complexes, which the company operates, including major subsidiaries and joint ventures. These configurations are presented in block flow form, detailing major material flows. Also, intra-company chemical product transfers among the manufacturing sites are identified. Capacities for each of the company’s major products are summarized from both an historical perspective and five-year forecast based on announced expansions and acquisitions. Major Chemical Manufacturing Locations also includes an analysis of the company's material balance for major products and feedstocks showing capacity at each manufacturing location. This analysis is developed at nameplate capacity for each product representative of CMAI's estimate of the business position for the producer, quantifying site shortages/surpluses for each chemical. 0
0
0
Propionaldehyde
Acetaldehyde
0
0
0
Alpha Olefins
Borealis Global Manufacturing Locations 0
0
8
Hexene-1
1590
STEAM CRACKER
I: 3
622
1193
610
705
Ethylene
LDPE, Copolymer
HDPE
E: 195; F: 145; G: 150; H: 120
B:200;C:175;D:120;F :125,85;I:465
Export -1319 1936
0
1880
Propylene
Polypropylene
A: 240; F: 250; G: 223; I: 22
A:300;B:155,240;C: 240,330;E:300,135; G:180
Crude C4s
Butadiene
0
25
Import 0
Toluene
LLDPE
680
D: 120; E: 350; F: 85, 125; I: 155
A Borealis, Antwerp B Borealis, Beringen 0 Burghausen D Borealis, Porvoo 0 E Borealis, Schwechat F Borealis, Stenungsund G Borealis Poly, Porvoo 0 0 0 H Specialty Polymers, Antwerp Nitrile Rubber PB Rubber I Borouge, Ruwais, Abu Dhabi 0 0 J Agrolinz, Linz K Agrolinz, Piesteritz 25
Export 25 116
C4 Hydrogenation
ETBE
F: 116
F: 50
0
776
Oligomers C Borealis,
G: 25
0
16
I: 16
F: 610; G: 380; I: 600
735
Butene-1
Export -984
Import 1002
BTX P ROCESSING
3
Octene-1
I: 8 Import 975
0
50
0
0
r Butadiene Deriva 0
Import 14 150
REFINERY
96
164
Benzene
Cumene
G: 150
G: 245
262
245
Phenol
190
0
0
Bishphenol A
G: 190
0
46 295
0
Cyclohexane
Acetone
A: 240; G: 55
0
G: 118
550
Import Methane 261
0
Propylene
216
Ammonia
Urea
J: 550
375
138
118 Import Phosphoric Acid 48 480
J: 480
J: 70
J: 375
480
70
Ammonium Phos.
Export 0
Import 0 Export 124
13
Nitric Acid
160
Melamine J: 80; K: 80
465
570
Ammonium Nitrate J: 570 Export 0
14 Excellence and Experience in Petrochemical Consulting Since 1979.
Major Chemical Material Flows (Product Integration) CMAI tailors its capacity database to provide several important views of the company's operations. This involves the evaluation of the material balance around important first- and second-line derivatives (e.g., ethylene, ethylene oxide, etc.). The results, indicating surplus, deficit or balanced positions, shed light on the degree of integration along major product chains. The information, including a five-year forecast view, is presented graphically and tabulated by company and location as well as by derivative application.
BAYER'S CHLORINE PRODUCTION & DERIVATIVE CONSUMPTION CAPACITY BY REGION - 2010
Bayer CHLORINE INTEGRATION FOR 2010 (-000- METRIC TONS)
Million Metric Tons 1.4 MDI 1.2
CAPACITY TO CONSUME CHLORINE Chlorine
TDI
SHAREHOLDER
OWNERSHIP
Capacity
Poly MDI
TDI
Carbonate
NET
NORTH AMERICA
Polycarbonate 1.0
LOCATION
UNITED STATES
Chlorine Production
Bayer
Baytown, TX
100.0%
TOTAL - United States
0.8
TOTAL - North America
310
165
198
80
(133)
310
165
198
80
(133)
310
165
198
80
(133)
SOUTH AMERICA
0.6
BRAZIL Bayer
0.4
----
25
----
----
(25)
TOTAL - Brazil
----
25
----
----
(25)
TOTAL - South America
Belford Roxo, RJ
----
25
----
----
(25)
----
----
----
61
(61)
----
----
----
61
(61)
99
113
0.2
100.0%
WEST EUROPE BELGIUM Bayer
0.0 North America South America West Europe Northeast Asia Southeast Asia
Antwerp
100.0%
TOTAL - Belgium
Asia (To Be Announced)
GERMAN FEDERAL REPUBLIC
~
BAYER'S REGIONAL CHLORINE SURPLUS & DEFICIT
Bayer
Brunsbuttel
100.0%
190
Bayer
Dormagen
100.0%
448
----
54
----
394
Bayer
Krefeld
100.0%
220
110
----
----
110
Leverkusen
100.0%
Uerdingen
100.0%
2015 Bayer 2010 Bayer
Asia (To Be Announced)
TOTAL - German Federal Republic
329
----
----
(22)
----
----
329
----
----
----
101
(101)
1,187
209
167
101
710
SPAIN
Southeast Asia
Bayer
Tarragona, TG
100.0%
----
83
----
----
(83)
----
83
----
----
(83)
1,187
292
167
162
567
(51)
TOTAL - Spain
TOTAL - West Europe
Northeast Asia
NORTHEAST ASIA CHINA
West Europe
Bayer Poly Shanghai
Caojing, Shanghai
100.0%
----
----
----
51
Bayer Polyurethanes
Caojing, Shanghai
100.0%
215
193
----
----
23
215
193
----
51
(28)
TOTAL - China
JAPAN
South America
2010 Global Surplus = 270 Sumika Bayer Ureth. Thousand Metric Tons TOTAL - Japan
North America
2015 Global Deficit = 282 Thousand Metric Tons
Niihama
60.0%
TOTAL - Northeast Asia
29
----
----
----
29
----
----
(29)
215
----
221
----
51
(57)
(29)
83
(83)
SOUTHEAST ASIA THAILAND
(400)
(200)
0
200
-000- Metric Tons
400
600
Bayer 800
----
----
----
TOTAL - Thailand
----
----
----
83
(83)
TOTAL - Southeast Asia
Map Ta Phut, Rayong
100.0%
----
----
----
83
(83)
1,712
702
365
375
270
~
WORLD WORLD TOTAL
Note: Capacities are pro-rated for Bayer's ownership share.
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Excellence and Experience in Petrochemical Consulting Since 1979.
