24 Sep 2019
Posted in Oil & Gas
Asia and Middle East to drive entire global expandable polystyrene capacity growth by 2023, says GlobalData
Asia and the Middle East are expected to drive the entire capacity growth in the global expandable polystyrene (EPS) industry from expansion projects (planned and announced projects) between 2019 and 2023, according to GlobalData, a leading data and analytics company.
The company’s report, ‘Global Expandable Polystyrene (EPS) Industry Outlook to 2023 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’, reveals that Asia is expected to contribute about 51.4% of the global EPS capacity additions or 0.18 million tonnes per annum (mtpa) by 2023.
Dayanand Kharade, Oil and Gas Analyst at GlobalData, says: “In Asia, India leads the capacity growth through two upcoming projects i.e., ‘Supreme Petrochem Nagothane Expandable Polystyrene (EPS) Plant 2’ and ‘LG Polymers India Visakhapatnam Expandable Polystyrene (EPS) Plant’.
The capacity details for the only upcoming project in China i.e.,‘Ningxia Baofeng Energy Group Yinchuan Expandable Polystyrene (EPS) Plant’ are presently unavailable.”
GlobalData identified the Middle East as the only other region for capacity additions in the global EPS industry. The region will add a new-build capacity of 0.17 mtpa by 2023.
Two planned plants account for the entire capacity additions in the region. ‘Dalahoo Kimiya Industry Company Assaluyeh Expanded Polystyrene Plant’ is expected to account for most of the capacity additions with 0.12 mtpa by 2023.