The Middle East will lead capacity growth in the global acetic acid industry from planned and announced projects between 2019 and 2023, contributing around 43% by 2023, says GlobalData in a report. The report, ‘Global Acetic Acid Industry Outlook to 2023 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’, claims that the Middle East is expected to have a new-build acetic acid capacity of 1.3 million tpy from two planned and announced projects.
The Oman Oil Company’s Duqm Acetic Acid Plant, and Bushehr Petrochemical Company’s Assaluyeh Acetic Acid Plant are the two new-build projects in the Middle East, collectively accounting for the entire capacity additions.
GlobalData identified Asia as the second highest region in terms of capacity additions in the global acetic acid industry. The region will add a new-build capacity of 940 000 tpy by 2023.
The entire capacity additions will be from the Shanghai Huayi Company Qinzhou Acetic Acid Plant, Inner Mongolia Donghua Energy Jungar Qi Acetic Acid Plant and Henan Longyu Coal Chemical Luoyang Acetic Acid Plant with the capacities of 500 000 tpy, 400 000 tpy, and 40 000 tpy, respectively.
Dayanand Kharade, Oil and Gas Analyst at GlobalData, concludes: “North America stands third, with the expansion acetic acid capacity of 650 000 tpy by 2023. The entire capacity addition will be from the planned projects, Celanese Corporation Clear Lake Acetic Acid Plant, and Celanese Corporation Clear Lake Acetic Acid Plant Expansion which are expected to come online by 2023.”
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/10102019/middle-east-to-contribute-43-to-global-acetic-acid-capacity-additions/
You might also like
Greenhouse gas reduction efforts in the refining sector require short- and long-term actions, in compliance with government regulations, and a strategic big picture approach. Diana de la Cruz and Bruce Ofori, Emerson, explain.