Boston, MA -- (SBWIRE) -- 01/27/2015 -- Growth in gas production is set to spur downstream petrochemicals industries, particularly fertiliser and methanol, but BMI's latest Nigeria Petrochemicals report warns that the business environment remains uncertain and will no doubt be affected by the turbulence that comes with presidential elections, which are due in February 2015.

In 2014, Nigeria had olefins production capacities of 550,000 tonnes per annum (tpa) ethylene and 125,000tpa propylene with thermoplastic resins capacities of 240,000tpa linear low-density polyethylene (LLDPE) and 95,000tpa polypropylene (PP). Nigeria's petrochemicals sector is characterised by low capacity utilisation, frequently disrupted plant operations and a lack of proper resources to operate and maintain facilities.

The government is attempting to attract foreign direct investment (FDI) into the country's petrochemicals sector. However, a lack of skilled labour, political and social unrest and sabotage of upstream infrastructure could delay projects planned in the coming years.

View Full Report Details and Table of Contents

- According to current planned projects, by 2019 Nigeria will see an additional 5.6mn tpa of urea and 1.74mn tpa of ammonia. This will transform the country into a significant net exporter of fertiliser.

- Methanol is also set to grow with total additional capacity of 3.6mn tpa over the next five years, although BMI cautions that some of this capacity may not materialise or could be delayed.

- Basic polymers appear to be getting less attention by investors with only 600,000tpa of polypropylene (PP) scheduled to come into operation in 2018. A low density polyethylene (LDPE) plant is also planned, but its capacity is unknown.

- Nigeria comes in at 11th place in BMI's Risk/Reward Index (RRI) for the Middle East and Africa with 37.2 points, up 0.6 points from 2014 due to moves to boost indigenous capacities. It lies 2.0 points ahead of Algeria and 7.5 points behind Egypt. Its score could rise if all plans come on stream as expected, but bearing in mind...

The Nigeria Petrochemicals Report has been researched at source, and features Business Monitor International (BMI)'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 Nigeria Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Nigerian 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 Nigerian petrochemicals market.

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

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

Coverage

BMI Industry View

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

Market Overview

Structure, size and value of the industry sector; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments.

Business Environment Rankings

BMI's Petrochemicals Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (both corporate and financial) in the regional petrochemicals market.

The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.

Industry Trends & Developments

Evaluation of company and sector-wide developments, including key projects (as well as expansion plans), latest company financial details and proposed international ventures.

BMI Industry Forecasts

Historic data series (2009-2012) and forecasts to end-2018 for all key industry and economic indicators supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:

About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 800-844-8156

Browse all Energy research reports at Fast Market Research

You may also be interested in these related reports:

- Taiwan Petrochemicals Report 2015
- Russia Petrochemicals Report Q1 2015
- Thailand Petrochemicals Report Q1 2015
- Colombia Petrochemicals Report 2015
- Philippines Petrochemicals Report Q1 2015