13 Jul 2021
Posted in Oil & Gas
Asia to spearhead global xylenes capacity additions by 2025, says GlobalData
Asia leads the global xylenes capacity additions with a capacity of 35.01 million tons per annum (mtpa) by 2025. China accounts for more than half of Asia’s capacity additions and the country is expected to lead the global xylenes capacity additions by 2025, says GlobalData, a leading data and analytics company.
GlobalData’s report, ‘ Global Xylenes Industry Outlook to 2025 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’ reveals that xylenes capacity is poised to see considerable growth by 2025, potentially increasing from 73.38 mtpa in 2020 to 113.43 mtpa in 2025, registering total growth of 55%.
Amareswari Kanaparthi, Oil and Gas Analyst at GlobalData, says: “China leads the capacity additions in the region with capacity additions of 24.36 mtpa by 2025. Majority of the additions will be from a planned project Zhejiang Petrochemical Daishan Xylene Plant 2 with the capacity of 4.80 mtpa by 2022.”
GlobalData identifies India as the second highest country in terms of capacity additions with a capacity of 6.19 mtpa by 2025. Majority of the capacity additions will be from an announced projects, Haldia Petrochemicals Kakinada Xylene Plant and Haldia Petrochemicals Balasore Xylene Plant, contributing 1.60 mtpa respectively.
Brunei will be the third highest country in terms of capacity additions with the capacity of 2.30 mtpa by 2025. Majority of the capacity additions will be from an announced project Brunei Hengyi Industries Pulau Muara Besar Xylene Plant 2 with the capacity of 2.00 mtpa, by 2022.
Hebei Xinhua Petrochemical Co Ltd, Haldia Petrochemicals Ltd and Shenghong Petrochemical Group Co Ltd will be the top three companies globally in terms of planned and announced capacity additions over the outlook period.