Asia Will Drive Substantial Global Petrochemicals Capacity Additions to 2020, says GlobalData

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Global petrochemicals capacity will grow considerably over the next five years, increasing from 1,464 million metric tonnes per annum (mmtpa) in 2015 to 1,708 mmtpa by 2020, according to research and consulting firm GlobalData.

The company’s latest report* states that around 647 planned projects are slated to come online in the next five years, driven primarily by China, the US, and Iran. Asia has over half of all planned projects, with China responsible for 176 projects with a total capacity of 64 mmtpa by 2019.

China Petroleum & Chemical Corporation, Shenhua Group Corporation Limited and China Coal Energy Company Limited will be the top three companies behind major capacity additions in China during the forecast period.

GlobalData's report also highlights that petrochemical plant proposals across ten key countries would increase global capacity for petrochemicals by over 1,000 mmtpa by 2019, approximately equivalent to two thirds of total capacity in 2015.

These projects represent over US$140 billion of estimated capital expenditure.  Apart from the aforementioned Chinese companies, the report details projects from companies such as Petroliam Nasional Berhad, Indian Oil Corporation Limited, Reliance Industries Limited, GigaMethanol B.V, Sepehr Energy Corporation, Carbon Holdings, Lotte Chemical Corporation, and SIBUR Holding with projects leading major capacity additions.
 

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-ENDS-

NOTES TO EDITORS

*Global Petrochemicals Capacity and Capital Expenditure Outlook – China, US and Iran Underpin Continuing Petrochemicals Expansion

This report provides information on historic and forecast global petrochemical capacity up to 2020. It includes global petrochemical planned plants details, information on the capacity share of the major petrochemical producers in the world, and capital expenditure forecast by region.

This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.
 

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