UDK 33 Экономика. Народное хозяйство. Экономические науки
At present, M&A deals are typical for petrochemical companies in the world. This article analyses main persistent trends of the modern petrochemical market. The analysis is based on consultancies’ reports on the state on M&A in chemical sector, empirical data is represented by recent M&A deals overview. Numerical data on M&A deals number and value is analyzed for the past decade. It is concluded that traditional stimuli for M&A in the industry are still relevant, yet there are new factors which explain the shift in M&A deals participants’ motivation and relative regional activity on the petrochemical capital market starting from mid-2010’s.
mergers and acquisitions; vertical integration; horizontal integration; consolidation; petrochemical industry; price competitiveness
1. Global Petrochemicals Market Overview / sayt Market Research Future. [Elektronnyy resurs]. – URL: https://www.marketresearchfuture.com/reports/petrochemical-market-3164
2. Petrochemicals Market Size, Share & Industry Analysis / sayt Fortune Business Insights. – [Elektronnyy resurs]. – URL: https://www.fortunebusinessinsights.com/petrochemicals-market-102363
3. Sayt Vsemirnogo Banka. – [Elektronnyy resurs]. – URL: https://databankfiles.worldbank.org/public/ddpext_download/GDP.pdf
4. Kozenyasheva M M. Razvitie mirovogo rynka neftegazohimii v sovremennyh ekonomicheskih usloviyah / M. M. Kozenyasheva, A. V. P'yanov // Ekonomicheskie nauki. – 2023. – №4 (221) – s. 467-476
5. IEA (2018). The Future of Petrochemicals. IEA, Paris. URL: https://www.iea.org/reports/the-future-of-petrochemicals
6. Morawietz, M. How M&A will shape the competitive landscape / M. Morawietz, I. Herrmann // PwC : oficial'nyy sayt. – 2013. [Elektronnyy resurs]. – URL: https://www.strategyand.pwc.com/gx/en/insights/archive/future-of-chemicals/future-of-chemicals-ix.pdf
7. BCG (2017). Consolidation as a Route to Transformation. Boston Consulting Group, Gulf Petrochemicals & Chemicals Assn. URL: http://media-publications.bcg.com/flash/dotbcg_other/Consolidation-as-a-route-to-transformation.pdf
8. Global chemical industry mergers and acquisitions outlook 2024 / Deloitte : oficial'nyy sayt. – 2024. [Elektronnyy resurs]. – URL: https://www.deloitte.com/mt/en/Industries/energy/perspectives/global-chemical-mergers-acquisition-outlook.html
9. Agentstvo ICIS : oficial'nyy sayt. [Elektronnyy resurs]. – URL: https://www.icis.com/asian-chemical-connections/2023/03/global-oversupply-of-petrochemicals-to-hit-218m-tonnes-in-2023-the-highest-in-any-year-since-1990/
10. Cetinkaya, E. Petrochemicals 2030: Reinventing the way to win in a changing industry / E. Cetinkaya, N. Liu, T. J. Simmons, J. Wallach // McKinsey: oficial'nyy sayt. – 2018. [Elektronnyy resurs]. – URL: https://www.mckinsey.com/industries/chemicals/our-insights/petrochemicals-2030-reinventing-the-way-to-win-in-a-changing-industry
11. Chemical Industry Facts and Figures 2023 / CEFIC : oficial'nyy sayt. [Elektronnyy resurs]. – URL: https://cefic.org/app/uploads/2023/12/2023_Facts_and_Figures_The_Leaflet.pdf
12. Informacionno-analiticheskiy centr RUPEC : oficial'nyy sayt. [Elektronnyy resurs]. – URL: https://rupec.ru/news/53357/
13. Elser, B. The changing face of M&A in the chemical industry / B. Elser, P. Bjacek, K. Walczyk. // Accenture : oficial'nyy sayt. – 2022. [Elektronnyy resurs]. – URL: https://www.accenture.com/us-en/insightsnew/chemicals/changing-face-ma
14. Lange, Jean-Paul. (2021). Towards circular carbo-chemicals – the metamorphosis of petrochemicals. Energy & Environmental Science.https://doi.org/10.1039/D1EE00532D. URL: https://pubs.rsc.org/en/content/articlehtml/2021/ee/d1ee00532d
15. BCG (2023) Macro Trends Shaping Mergers and Acquisitions in Chemicals – White Paper. Boston Consulting Group, URL: https://media-publications.bcg.com/Macro-Trends-Shaping-Mergers-and-Acquisitions-in-Chemicals.pdf
16. Borouge: Oficial'nyy sayt. [Elektronnyy resurs]. – URL: https://www.borouge.com/en/about-us/Pages/home.aspx
17. INEOS and SINOPEC complete major petrochemicals deal in China. INEOS: oficial'nyy sayt. [Elektronnyy resurs]. – URL: https://www.ineos.com/news/ineos-group/ineos-and-sinopec-complete-major-petrochemicals-deal-in-china/
18. Global chemical industry mergers and acquisitions outlook 2023 / Deloitte : oficial'nyy sayt. – 2023. [Elektronnyy resurs]. – URL: https://www2.deloitte.com/us/en/pages/energy-and-resources/articles/global-chemical-mergers-acquisition-outlook.html
19. INEOS Completes Purchase of LyondellBasell’s Ethylene Oxide and Derivatives Business. INEOS: oficial'nyy sayt. [Elektronnyy resurs]. – URL: https://www.ineos.com/news/shared-news/ineos-completes-purchase-of-lyondellbasells-ethylene-oxide-and-derivatives-business/