Global petrochemicals capacity is poised to see considerable growth over the next nine years, potentially increasing from 1,547.2 million tonnes per annum (mtpa) in 2017 to 1,931.5 mtpa in 2026. Around 982 planned and announced plants are slated to come online in the next nine years, primarily in Asia and the Middle East.
Asia, the Middle East, and North America are the top regions contributing to capacity additions in the next nine years. Asia has 482 planned and announced plants, of which China has 244 with a total capacity of 98.2 mtpa by 2022. Capital expenditure (capex) for these plants in China is estimated to total US$51.6 billion by 2022. China Petrochemical Corp, Zhejiang Petrochemical Co Ltd, and Wanhua Chemical Group Co., Ltd. are the top three companies accounting for the major capacity additions in China.
Major New Plant Announcements
Tianjin Bohai Petrochemical Company Aktobe Methanol Plant
Rosneft Pertamina JV Java Ethylene Plant
Jubail United Petrochemical Company Al-Jubail Ethylene Glycol Plant 3
Oriental Energy Ningbo Propylene Plant 2
Wanhua Chemical Yantai Styrene Plant
Among Companies –
China Petrochemical Corp, Zhejiang Petrochemical Co Ltd, and Kuwait Petroleum Corporation are the top three companies by planned capacity additions globally over the next nine years.
China Petrochemical Corp, Saudi Basic Industries Corp, and The Dow Chemical Co are the top global producers of petrochemicals with capacities of 57.7 mtpa, 45.2 mtpa, and 39.2 mtpa, respectively, as of 2017.