Asia is set to lead the global capacity additions among the regions and its ethylene capacity is expected to increase from 75.56 mtpa in 2020 to 138.42 mtpa in 2030, at an average annual growth rate (AAGR) of 6%. Within Asia, China accounts for more than half of the region’s capacity additions, says GlobalData, a leading data and analytics company.

GlobalData’s report, ‘Global Ethylene Capacity and Capital Expenditure Outlook to 2030 – China and India Leads Global Ethylene Capacity Additions’, reveals that the global ethylene capacity is poised to see considerable growth over the next five years, potentially increasing from 201.32 (mtpa) in 2020 to 310.68 mtpa in 2030, registering a total growth of 54%. Around 168 planned and announced plants are scheduled to come online, predominantly in Asia and Middle East, over the next five years.

Vinuthna Bidar, Oil and Gas Analyst at GlobalData, says: “China will dominate the global ethylene market, with both the biggest number of new projects and the largest absolute capacity expansion driven by the country’s economic growth. The country is set to build around 41 ethylene projects in the next five years.”

GlobalData identifies India as the second highest country in terms of capacity additions with the capacity of 10.05 mtpa by 2030. Major capacity additions will be from a planned plant Nayara Energy Vadinar Ethylene Plant, with a capacity of 1.80 mtpa by 2030.

Iran will be the third highest country in terms of capacity additions with capacity of 10.01 mtpa by 2030. Major capacity additions will be from planned plant Sepehr Makran Chabahar Ethylene Plant, with a capacity of 1.35 mtpa by 2030.

Shandong Yulong Petrochemical Ltd, China Petrochemical Corp and Exxon Mobil Corp will be the top three companies globally in terms of planned and announced capacity additions over the outlook period.