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Global petrochemicals capacity is poised to see considerable growth over the next nine years period, potentially increasing from 1447.9 million tonnes per annum (mtpa) in 2016 to 1619.3 mtpa in 2025. Around 753 planned projects are slated to come online in the next nine years, primarily in China, the US, and Iran.
United States of America (US) has 87 planned petrochemical projects, adding capacity of about 56.0 mtpa by 2025. The US capex for these projects is US$62.8 Billion by 2025. Major capacity additions will be from NW Innovation Works Inc and Sasol Limited. In the Middle East, Iran and Saudi Arabia have 112 planned petrochemical projects, adding capacity of about 44.9 mtpa in the coming years, and plan to spend US$13.8 Billion over the next nine years. Major capacity additions will be from Sepehr Energy Corporation.
On similar capacity addition plan, Zhejiang Petrochemical has announced a new ethylene production plant with capacity of 1.4 mtpa of ethylene, located in Daishan, Zhejiang, China. The implementation of the project is conducted in two phases. The first phase of the project is expected to come on-stream by 2018. On the other hand, Ofogh Polymer Company is planning to spend US$0.9 Billion by 2018 on the construction of a new propylene plant in Mahshahr, Iran. The propylene production plant will have capacity of 0.150 mtpa which is expected to come on-stream by 2018.
The report “Global Petrochemicals Capacity and Capital Expenditure Outlook - Ethylene and Methanol Spearhead the Petrochemicals Industry Expansion” provides historic and forecast global petrochemical capacity by region, global petrochemical planned plants details. Additionally, this report provides capacity share of the major petrochemical producers in the world and expenditure forecast by region, this report helps to identify opportunities in the global petrochemical industry with the help of upcoming projects and also, to understand the key trends in the global petrochemical industry.
Companies mentioned in this report: Zhejiang Petrochemical, NW Innovation, Ofogh Polymer, Gazprom Pererabotka SIBUR Holding, JBF Industries.