SWOT Analysis of Petronas Chemicals, USP and Competitors
Petronas Chemicals is one of the most reliable brands in the chemical and industrial products sector. It is a Malaysian investment holding company whose main segments are fertilizers, methanol, and olefins. It is a successful brand in the country and grows every day. If you are eager to find out the factors behind its immense success, then this SWOT analysis of Petronas Chemicals is perfect. You can easily uncover the company’s internal and external factors like strengths and weaknesses, including opportunities and threats.
A SWOT is a useful method that enables a company like Petronas Chemicals to maintain its competitiveness in the market. The firm can give tough competition to its competitors by benchmarking its performance and position. Below, we have covered Petronas Chemicals’ strengths, weaknesses, opportunities, and threats.
Company Name: Petronas Chemicals
Parent Company: Petronas Group
CEO: Mohd Yusri bin Mohamed Yusof
Type: Specialized chemicals
Sector: Chemicals and industrial products
Tagline: Chemistry for Growth
Unique Selling Proposition: To become a market leader in the production of chemicals in Malaysia.
Customers: Organizations focused on getting improvement in international trade and production capacities.
Target Consumers: Companies manufacture oil, gas, and industrial products.
Revenue: RM 23,025 billion (2021)
Net Income: RM 7,345 billion (2021)
Strengths of Petronas Chemicals | SWOT Analysis of Petronas Chemicals
Being a successful brand, Petronas Chemicals have so many strengths. The strengths are those factors that help a company to get a lead in the market. It simply enhances its competitive advantage and strengthens its position. An experienced workforce, strong financial position, and product innovation are some of the most prominent strengths of Petronas Chemicals.
1- Petronas Chemicals is one of the most experienced brands in Malaysia, with over 25 years of experience.
2- The firm covers the entire Malaysian belt regarding production capacity, which is 13 metric tons per annum.
3- The country’s demand for Petronas Chemicals products is high. So, it has a strong liquidity position.
4- The company focuses on sustainable growth and uses its resources efficiently.
5- In South East Asia, Petronas Chemicals is one of the largest producers and sellers of petrochemicals.
Weaknesses of Petronas Chemicals
Certain weaknesses can affect the company’s short- and long-term growth. The weaknesses are the areas in which Petronas Chemicals need some improvement. In other words, it indicates those areas of the company in which it is not good. However, weaknesses can be turned into strengths with planning. Here are some major weaknesses of Petronas Chemicals:
1- In international regions, the demand for petrochemicals is decreasing due to increasing fuel prices.
2- The labor strike is another major weakness of Petronas Chemicals. Just because of this reason, the company is not able to maintain its operational performance.
Opportunities for Petronas Chemicals | SWOT Analysis of Petronas Chemicals
The opportunities for a company or firm include areas of growth. A company like Petronas Chemicals can exploit its opportunities to increase its business, not only in Malaysia but also in other countries. They can expand further by exploiting opportunities. They can make innovative products by using opportunities in the right way. Below, we have mentioned some important opportunities for Petronas Chemicals:
1- The company should expand its businesses by collaborating with BASF and Dow Chemicals. They can enhance their products and position in the market by partnering with these brands.
2- Petronas Chemicals should think about LNG regasification. They can exploit these facilities to increase their revenue.
3- The company should pay close attention to Kimanis Power Plant in order to provide better electricity services and power to the people of Malaysia.
Threats for Petronas Chemicals | SWOT Analysis of Petronas Chemicals
The threats are very dangerous for the growth and expansion of any brand. They can impact the whole business of a company. Factors like changing government policies regarding chemical products, competitors, and changing consumer preferences are some crucial threats to Petronas Chemicals.
1- Strict rules and regulations for companies like Petronas Chemicals can destroy its position and overall profitability. The company should find alternative methods to refine gas and its production.
2- Fluctuating oil and gas prices have affected the company recently. If it goes the same, then it can ruin the business and revenue stream of Petronas Chemicals.
3- In China, the number of oil and gas companies is growing day by day. They can hurt the company’s brand image by offering better service.
Competitors of Petronas Chemicals
1- China Petrochem
2- Saudi Basic Industries Corporation
3- LG Chemical
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August 7, 2022 0 comment