22 Dec 2020
Posted in Oil & Gas
Asia to lead global Bisphenol A capacity additions by 2024, says GlobalData
The global Bisphenol A capacity is poised to register a total growth of 17% by 2024. The Bisphenol A capacity is likely to increase from 7.60 million tonnes per annum (mtpa) in 2019 to 8.89 mtpa in 2024, says GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Global Bisphenol A Industry Outlook to 2024 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’ reveals that among the regions, Asia leads the capacity additions and the region’s Bisphenol A capacity is expected to increase from 4.74 mtpa in 2019 to 5.92 mtpa in 2024 at an average annual growth rate (AAGR) of 4.4%. It is expected to have a new-build Bisphenol A capacity of 1.15 mtpa from 6 new-build projects.
Krishna Teja Pappoppula, Oil and Gas Analyst at GlobalData, says: “Within Asia, China leads in terms of capacity additions with a capacity increase of 0.91 mtpa by 2024, which accounts for more than 75% of the region’s capacity additions. Major capacity additions will be from the Hainan Huasheng New Material Technology Company Dongfang Bisphenol A Plant and Jiangsu Ruisheng New Material Technology Company Lianyungang Bisphenol A Plant with 0.24 mtpa capacity each by 2024.”
GlobalData identifies Malaysia as the second highest country within the region in terms of capacity additions with a capacity of 0.20 mtpa by 2024.These capacity additions will be from the PETRONAS Pengerang Bisphenol A Plant with a capacity of 0.20 mtpa by 2024.
India will be the third highest country within the region in terms of capacity additions with a capacity of 0.04 mtpa by 2024. These capacity additions will be from the Nayara Energy Vadinar Bisphenol A Plant with a capacity of 0.04 mtpa by 2024.
Hainan Huasheng New Material Technology Co Ltd, Jiangsu Ruisheng New Material Technology Co Ltd and Huayi International Industry Group Ltd will be the top three companies in Asia in terms of planned and announced capacity additions over the outlook period.