Asia is expected to lead the global propylene industry capacity additions with a share of 67% by 2030 by gaining capacity from new-build and expansion projects between 2023 and 2030, according to GlobalData, a leading data and analytics company.
GlobalData’s latest report, “Propylene Capacity and Capital Expenditure Outlook by Region, Countries, Companies, Feedstock, Projects and Forecast to 2030,” reveals that the total propylene capacity of new-build and expansion projects in Asia is expected to be 44.72 million tonnes per annum (mtpa) by 2030. The increasing demand for propylene in the growing automotive and packaging sectors is the key factor driving propylene industry growth in Asia.
Nivedita Roy, Oil and Gas Analyst at GlobalData, comments: “For the upcoming new build projects, the region is expected to add a capacity of 44.40 mtpa from 68 planned and announced projects, whereas, for the expansion of the existing propylene projects, the region is expected to add a capacity of 0.32 mtpa from five planned projects.”
China is the key country in Asia in terms of propylene capacity additions. The main capacity addition in China will be from a planned project, Shandong Yulong Petrochemical Longkou Propylene Plant 1, with a capacity of 2.30 mtpa. It is expected to commence production of propylene in 2024.
Nivedita concludes: “After China, India stands next in terms of capacity additions. The main capacity will be from an announced project, Haldia Petrochemicals Kakinada Propylene Plant, with a capacity of 1.61 mtpa. It is expected to come online in 2028.”
www.globaldata.com
