Fuel for Thought
Asia to lead global petrochemicals capacity additions through 2026, says GlobalData
Sep 12 2018 Read 521 Times
Led by Asia and the Middle East, the global petrochemicals market capacity is poised to grow from 1,547.2 million tons per annum (mtpa) in 2017 to 1,931.5 mtpa in 2026, says leading data and analytics company GlobalData.
The company’s latest report, ‘Semi-Annual Global Petrochemicals Capacity and Capital Expenditure Outlook’ reveals that around 982 planned and announced plants are slated to come online, primarily in Asia and the Middle East, over the nine year period.
Asia, the Middle East, and North America will be the top regions contributing to capacity additions during the outlook period. Within Asia, with 244 out of the total 482 planned and announced petrochemical plants and a total capacity of 98.2 mtpa by 2026, China is the top country. Capital expenditure (capex) for these plants in China is estimated to total $51.6bn. China Petrochemical, Zhejiang Petrochemical and Wanhua Chemical are the top three companies accounting for the major capacity additions in China.
Dayanand Kharade, Petrochemicals Research Manager at GlobalData said, “In Asia, China, due to its increasing petrochemicals demand, is contributing to large capacity additions. The country will add more than half the number of upcoming projects in Asia. In the Middle East, Iran with its feedstock advantage is set to have large capacity additions, primarily targeting exports to Asia and Europe.”
In the Middle East, the majority of capacity additions will be in Iran, with planned and announced capacity additions of around 63 mtpa by 2026. Capex for these plants totals $27.9bn. Sepehr Energy is the top company accounting for the major capacity additions in Iran.
The US has 98 planned and announced petrochemical plants, with a total capacity addition of roughly 63 mtpa by 2026. The capex for these plants is $52bn. Major capacity additions will be from IGP Methanol and NW Innovation Works.
In South America, Venezuela plans to spend $1.5bn in the coming years to add a capacity of 2.1 mtpa.
In the Former Soviet Union, the majority of capacity additions will be in Russia, with planned and announced capacity additions of approximately 24.6 mtpa by 2026. Capex for these plants totals $23.2bn. Sibur Holding is the top company accounting for the major capacity additions in Russia.
In Africa, the majority of petrochemicals capacity additions will be in Egypt, with planned and announced capacity additions of around 10.1 mtpa by 2026. Capex for these plants totals $12bn in the coming years.
In Europe, Poland plans to spend $0.8bn to add capacity of roughly 0.9 mtpa, which is expected to come on-stream by 2026.
Do you like or dislike what you have read? Why not post a comment to tell others / the manufacturer and our Editor what you think. To leave comments please complete the form below. Providing the content is approved, your comment will be on screen in less than 24 hours. Leaving comments on product information and articles can assist with future editorial and article content. Post questions, thoughts or simply whether you like the content.
In This Edition Fuel for Thought - New Partnership for the US Distributio - Element opens new oil and gas laboratory in Singapore - Metrohm Acquires B&W Tek Analytical Instrumentation...
View all digital editions
Oct 23 2018 Kiev, Ukraine
Oct 24 2018 Toronto, Canada
Oct 25 2018 Lima, Peru
Oct 30 2018 Houston, Tx, USA
Oct 31 2018 Shanghai, China