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Westlake Chemical SWOT and PESTLE Analysis

ID : 521134753| Feb 2023| 21 pages

COMPANY PROFILE -Westlake Chemical

Business Sector :Chemicals

Operating Geography :United States, North America, Global

About Westlake Chemical :

Westlake Chemical is aproducer and supplier of petrochemicals, polymers, and manufactured construction products that are essential in a variety of consumer and industrial sectors. In 1986 Ting Tsung Chao established the company and its headquarters are situated in Houston, Texas.Olefins and Vinyls are two of the company's segments. At the Lake Charles site, the Olefins section produces ethylene, polyethylene, styrene, and related co-products, while the Longview unit produces polyethylene. Vinyls manufacture and sell pipe, fittings, profiles, foundations, building products, fence and deck components, window and door components, film, and sheet products, among other building materials. The ethylene produced by the company is used in the polyethylene, styrene, and VCM processes. In addition, the company sells propylene, crude butadiene, pyrolysis gasoline, and hydrogen, as well as ethylene and ethylene co-products. As of 2021, the company leverages the talent of 9022 employees.
Westlake Chemical's USP lies in its being the global manufacturer and supplier of petrochemicals, polymers, and construction materials that improve people's lives. The mission statement of Westlake Chemical reads, "Our mission is to serve our customers by safely and reliably providing quality and sustainable products and services that enhance people's lives every day. ... Safety and a vigilant stewardship of the environment is at the forefront of everything we do".

Westlake Chemical Revenue :


$7.504 billion - FY ending 31st December 2020 (y-o-y growth -7.56%)
$8.118 billion - FY ending 31st December 2019

Competitive Analysis of Westlake Chemical

SWOT
PESTLE
The SWOT analysis for Westlake Chemical is presented below in a table followed by the detailed analysis report.
StrengthsWeaknesses
1. Strategic acquisitions leading to diversification of the business and product mix
2. Vertically integrated global manufacturerof chemicals and building materials
3. Large customer base with no customer accounting for more than 10% of the net sales
1. Subject to various allegations regarding violations of environmental laws and regulation
2. Dependence on limited number of outside suppliers for specified feedstocks and services
3. The company has high level of debt which increases cost.
4. Reliance on third party transportation
OpportunitiesThreats
1. Rising demand for ethylene and polyvinyl chloride providing opportunities for expansion
2. Increase in the demand for the downstream building products business
1. Cyclic nature of the petrochemical industry impacting result of operations
2. Volatility in the prices of raw materials and energy
3. Decline in the demand for U.S. residential housing market could reduce demand
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Detailed SWOT Analysis of Westlake Chemical

Strength

1. Strategic acquisitions leading to diversification of the business and product mix: In January, 2019 the company completed the acquisition of NAKAN which is a global solutions business. NAKAN’s products are used in a various application like automotive, building, construction and medical industries. With this acquisition, the company’s compounding business has facilities worldwide in China, France, Germany, Italy, Japan, Mexico, Spain, United States, Vietnam and has a research facility in France. In the same year on 12th November, the company through one of its subsidiaries, Eagle, completed the acquisition of an additional 34.8% of the membership interests in LACC, LLC from Lotte Chemical Corporation for approximately $817 million. The LACC ethylene plant has 2.2 billion pounds per year of ethylene production capacity and is adjacent to the company’s chlor-alkali facility in Lake Charles. Company’s integrated downstream operations are expected to benefit from the commercial operations begun by the LACC ethylene plant.<

The remaining section under "Strength" is available only in the 'Complete Report' on purchase.

Weakness

1. Subject to various allegations regarding violations of environmental laws and regulations: Westlake Chemical has received notices and inquiries from the government entities regarding alleged violations of environmental laws and regulations for disposal, emission, storage of chemical substances among various other things. Environmental Protection Agency investigated the Geismar facility under the Clean Air Act and the matter was resolved in November 2019 with the American petrochemical firm agreeing to a penalty payment of $132000 along with a supplemental environmental project of $116200.In November 2019 the Environmental Protection Agency issued a notice of violation to the Lake Charles facilities under the Toxic Substances Control Act and this might attract penalties in excess of $100000.Thse are few of the many allegations that the company is part of. Moreover, in the year 2019 the company made capital expenditure of $28 million related to environmental compliance.

The remaining section under "Weakness" is available only in the 'Complete Report' on purchase.

Opportunity

This section is available only in the 'Complete Report' on purchase.

Threat

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

Major Brands :

  • Axiall
  • Royal Building Products
  • Vinnolit
  • North American Pipe Corporation
  • Westlake Polymers LLC
  • Ivy Group Holding SAS
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References used in Westlake Chemical SWOT & PESTLE Analysis Report

1. Annual Report 19-20 - https://www.westlake.com/sites/default/files/WLK%20AR%202019.pdf
2. Westlake Chemical Corporation Third Quarter 2021 - https://s26.q4cdn.com/761341895/files/doc_presentations/2021/11/Westlake_IR-presentation-for-projection-2021Q3-v4.pdf
3. Westlake Chemical Corporation Reports First Quarter 2021 Results - https://www.westlake.com/news/westlake-chemical-corporation-reports-first-quarter-2021-results
4. 2019 Sustainability Report - https://www.westlake.com/sites/default/files/Westlake-Sustainability-Report-2019-FINAL.pdf
5. SHORT-TERM ENERGY OUTLOOK - https://www.eia.gov/outlooks/steo/report/prices.php
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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SWOT & PESTLE.com (2024). Westlake Chemical SWOT and PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/westlake-chemical/ [Accessed 26 Apr, 2024].

In-text: (SWOT & PESTLE.com, 2024)

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Westlake Chemical SWOT and PESTLE analysis has been conducted by Shreya Gupta and reviewed by senior analysts from Barakaat Consulting.

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