17 Jun 2021
Posted in Oil & Gas
Asia set to drive global polyvinyl chloride capacity additions by 2025, says GlobalData
Asia is expected to lead the global polyvinyl chloride (PVC) capacity additions with a capacity of 6.85 million tons per annum (mtpa) by 2025. Presently, China accounts for more than half of the region’s capacity additions in Asia and it is likely to lead the global PVC capacity additions among the countries by 2025, says GlobalData, a leading data and analytics company.
GlobalData’s report, ‘ Global Polyvinyl Chloride Industry Outlook to 2025 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’ reveals that Asia has 22 new- build and expansion projects with 4.90 mtpa from new build and 1.95 mtpa from expansion projects.
Amareswari Kanaparthi, Oil and Gas Analyst at GlobalData, says: “In China, seven new- build and expansion projects are likely to start operations with a capacity of about 3.65 mtpa by 2025. Xinjiang Zhongtai Chemical Company Baicheng PVC Plant is the largest upcoming project with the capacity of 1.00 mtpa by 2023.”
GlobalData identifies India as the second highest country in terms of capacity additions with a capacity of 1.74 mtpa by 2025. Majority of the capacity additions will be from an announced project, Haldia Petrochemicals Kakinada PVC Plant contributing 0.60 mtpa.
The US will be the third highest country in terms of capacity additions with the capacity of 1.72 mtpa by 2025. Majority of the capacity additions will be from an announced project Formosa Plastics Corporation Point Comfort PVC Plant, with the capacity of 0.80 mtpa, by 2025.
Formosa Plastics Group, Xinjiang Zhongtai Chemical Co Ltd and Tianjin Bohai Chemical Industry Co Ltd will be the top three companies globally in terms of planned and announced capacity additions over the outlook period.