26 Nov 2019
Posted in Oil & Gas
Asia set to drive global phenol capacity growth by 2023, says GlobalData
Asia is expected to drive the global phenol capacity growth from planned and announced projects between 2019 and 2023, contributing around 91% of the global capacity additions by 2023, says GlobalData, a leading data and analytics company.
The company’s report, ‘Global Phenol Industry Outlook to 2023 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’, reveals that Asia is expected to have a new-build and expansion phenol capacity of 0.40 million tonnes per annum (mtpa) from three planned and announced projects.
Sowmya Sivaji, Oil and Gas Analyst at GlobalData, says: “In Asia, the phenol capacity growth will be from Malaysia and India, where the two new-build projects are expected to come online by 2023. The capacity details for an expansion project in China are presently unavailable.”
GlobalData identified the Former Soviet Union is the only other region in terms of capacity additions in the global phenol industry. The region will add an expansion capacity of 0.04 mtpa from a planned project, ‘Omsky Kauchuk Omsk Phenol Plant’ which is expected to commence production in 2019.