GlobalData: Asia to lead global polypropylene capacity additions by 2025
Published by Pippa Luck,
Editorial Assistant
Hydrocarbon Engineering,
According to GlobalData, Asia is expected to lead the global polypropylene capacity additions with a capacity of 40.32 million tpy by 2025. China accounts for nearly half (47%) of Asia’s capacity additions and the country is projected to lead the global polypropylene capacity additions by 2025.
GlobalData’s report, ‘Global Polypropylene Industry Outlook to 2025 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’ reveals that the global polypropylene capacity is poised to see considerable growth by 2025, potentially increasing from 85.57 million tpy in 2020 to 136.79 million tpy in 2025, registering a total growth of 60%.
Amareswari Kanaparthi, Oil and Gas Analyst at GlobalData, said: “China leads the capacity additions in the region with a capacity of 19.02 million tpy by 2025. Majority of the additions will be from a planned project Zhejiang Petrochemical Daishan Polypropylene Plant 2 with the capacity of 0.90 million tpy by 2022.”
GlobalData identifies India as the second highest contributor in terms of polypropylene capacity additions with a capacity of 15.28 million tpy by 2025. Majority of the capacity additions will be from an announced project, Reliance Industries Jamnagar Polypropylene Plant 3, contributing capacity of 5.20 million tpy respectively.
Iran will be the third highest country in terms of capacity additions with the capacity of 4.80 million tpy by 2025. Majority of the capacity additions will be from an announced project Jam Polypropylene Co. Assaluyeh Polypropylene Plant 2 with the capacity of 0.55 million tpy, expected to be added by 2025.
Reliance Industries Ltd, Oriental Energy Co. Ltd and Indian Oil Corp. Ltd will be the top three companies globally in terms of planned and announced capacity additions over the outlook period.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/15072021/globaldata-asia-to-lead-global-polypropylene-capacity-additions-by-2025/
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