Bright prospects for Thai petrochem industry

12-Jan-06

Thai petrochemical industry saw a satisfactorily growth in 2005, and is likely to grow further in the next few years. Many entrepreneurs have invested more in the petrochemical production both downstream and upstream, hoping to reap profits on the expected cyclical growth of the industry in the next few years. The promising growth in the industry can be attributed to a continued expansion in related industries including plastic products, packaging, textiles and garments, auto parts, and electrical appliances. However, future investment plans will have to be drawn up with prudence and caution because China, which is a key rival, has announced its firm intention to invest more in the petrochemical industry and promote the country as the world's major exporter.