18 Feb 2020
Posted in Oil & Gas
Asia to lead global ammonia capacity additions by 2024, says GlobalData
Asia is set to drive capacity growth in the global ammonia industry from planned and announced projects between 2020 and 2024, contributing around 27% of the global growth by 2024, says GlobalData, a leading data and analytics company.
The company’s report, ‘Global Ammonia Industry Outlook to 2024 – 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 ammonia capacity of 12.49 million tonnes per annum (mtpa) from 23 planned and announced projects. Out of these, 18 are planned projects and the remaining are announced projects.
Sowmya Sivaji, Oil and Gas Analyst at GlobalData, says: “In Asia, the capacity growth of ammonia will be mainly from India, which accounts for around 68 percent of the regions’ capacity. The planned projects account for most of the capacity additions in India.”
GlobalData identified the Middle East as the second highest region in terms of capacity additions in the global ammonia industry. The region will add a new-build and expansion capacity of about 10.35 mtpa from 24 planned and announced projects. The major capacity additions will be from Iran, and is expected to contribute about 8.00 mtpa by 2024.
Africa stands third, with new-build and expansion ammonia capacity of 9.65 mtpa by 2024. The major capacity additions will be from Nigeria, and is expected to contribute about 7.39 mtpa by 2024.