Asia will contribute 59% of global propylene capacity additions by 2026
By MYBRANDBOOK
Asia is forecast to be the major contributor to the growth of the global propylene industry by 2026, accounting for around 59% of the global planned and announced propylene capacity additions, according to GlobalData, a leading data and analytics company.
The company’s report: ‘Q4 2018 Global Propylene Capacity and Capital Expenditure Outlook – Asia and the Middle East to Lead Globally in Terms of Propylene Capacity Additions’ reveals that around 111 planned and announced plants are scheduled to come online, predominantly in Asia and the Middle East, over the next nine years.
Within Asia, China plans to add a total capacity of approximately 11.2 mtpa by 2026 with the help of 35 planned and announced propylene plants. Capital expenditure (capex) for these plants is US$7.56bn.
Dayanand Kharade, Petrochemicals Analyst at GlobalData, comments: “Asia will dominate the global propylene market in the mid-term with both the biggest number of new projects and the largest absolute capacity expansion, with China making the largest contribution of around 60%.”
GlobalData identifies the Middle East as the second highest in terms of propylene capacity additions. Within the region, Iran has 14 planned and announced propylene plants, with a total capacity of 2.8 mtpa by 2026. Capex for these plants totals US$2.72bn over the next nine years.
The US has three planned and announced propylene plants, with a capacity of around 1.2 mtpa over the next nine years, and plans to spend US$0.90bn. Major capacity additions will be from Formosa Plastics Group.
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