05 Jan 2021
Posted in Oil & Gas
China to lead global propylene capacity additions by 2030, says GlobalData
The global propylene capacity is expected to potentially increase from 129.80 million tonnes per annum (mtpa) in 2019 to 191.84 mtpa in 2030 registering a total growth of 48%. China accounts for 48% of the global propylene capacity additions, says GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Global Propylene Capacity and Capital Expenditure Outlook to 2030 – Asia and Middle East to Lead Globally in Terms of Propylene Capacity Additions’ reveals that China accounts for the highest capacity additions with a capacity of 29.53 mtpa by 2030. Major capacity additions will be from the Shandong Yulong Petrochemical Longkou Propylene Plant 1 with a capacity of 2.30 mtpa by 2030.
Dayanand Kharade, Oil and Gas Analyst at GlobalData, says: “China will dominate the global propylene market in the mid-term with both the biggest number of new projects and the largest absolute capacity expansion driven by economic growth. The country is forecast to account for 68% of the Asian capacity addition during the outlook period.”
GlobalData identifies India as the second highest country in terms of capacity additions, with capacity of 7.69 mtpa by 2030. Major capacity additions will be from the Haldia Petrochemicals Kakinada Propylene Plant, with a capacity of 1.61 mtpa by 2030.
Iran will be the third highest country in terms of capacity additions, with capacity of 2.98 mtpa by 2030. Major capacity additions will be from the The National Petrochemical Company Mahshahr Propylene Plant with a capacity of 0.50 mtpa by 2030.
Oriental Energy Co Ltd, Shandong Yulong Petrochemical Ltd, and Jinneng Science and Technology Co Ltd will be the top three companies globally in terms of planned and announced capacity additions over the outlook period.