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Friday, May 27, 2016
60 Planned Projects Set to Push Global Propylene Capacity to New Levels by 2020, says GlobalData
LONDON, UK (GlobalData), 26 May 2016 – Global propylene capacity is set to experience strong growth over the next five years, increasing from 111.8 million metric tons per annum (mmtpa) in 2015 to 129.8 mmtpa by 2020, as around 60 planned projects are slated to come online over the period, according to research and consulting firm GlobalData.
The company’s latest report* states that the projects will primarily be undertaken by China and the US. Indeed, of 38 planned propylene projects in Asia, China is responsible for 24, and will add 5.6 mmtpa by 2019. The country’s capital expenditure (capex) is set to reach US$3.62 billion over the next five years, and the leading companies accounting for major capacity additions will be Fujian Meide Petrochemical Co. Ltd and Ningbo Fortune Petrochemical Co., Ltd.
Indonesia is set to contribute the second highest capacity in Asia, adding 1.6 mmtpa by 2019, and planning capex of around US$2.14 billion over the next five years.
In North America, major propylene capacity additions will occur in the US, at around 3.1 mmtpa, with capex of around US$2.01 billion over the next five years. The top companies in terms of capacity additions in the US are BASF SE and C3 Petrochemicals LLC.
In Europe, major propylene capacity additions will be witnessed in Russia and Poland, which are planning to add capacity of around 1.7 mmtpa by 2020, with capex of around $2.83 billion. In Africa, Egypt is expected to spend around US$0.88 billion to add 0.9 mmtpa of capacity, which is expected to come onstream by 2020.
Globally, The Petronas Refinery and Petrochemical Corporation, Lotte Chemical Corporation, and C3 Petrochemicals LLC will be the top companies in terms of capacity additions, and all are expected to come onstream over the next five years.
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