Iran is set to drive capacity growth in the global maleic anhydride industry from planned and announced projects between 2019 and 2023. The country aims for these additions to represent around 59% of global capacity growth by 2023, says GlobalData, a leading data and analytics company.
The company’s report, ‘Global Maleic Anhydride Industry Outlook to 2023 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’, reveals that Iran is expected to add maleic anhydride capacity of 0.13 million tonnes per annum (mtpa) from two planned projects by 2023.
Dayanand Kharade, Oil and Gas Analyst at GlobalData, says: “Iran is set to add capacity targeting downstream production of Unsaturated Polyester Resin (UPR) and 1,4-butanediol (BDO). The Ibne Sina Petrochemical Company Mahshahr Maleic Anhydride Plant and the Modabberan Shimi Company Mahshahr Maleic Anhydride Plant will account for the entire capacity growth in Iran by 2023.”
GlobalData identifies the United Arab Emirates (UAE) and Russia as the second highest countries in terms of capacity additions in the global maleic anhydride industry. Together, these countries add a capacity of 0.09mtpa from two upcoming projects. The entire capacity addition for the UAE will be from the announced project, ENOC – IG Petrochemicals Jebel Ali Maleic Anhydride Plant, whereas Russia’s capacity growth will be from the planned project, Sibur Tobolsk Tobolsk Maleic Anhydride Plant.
Kharade concludes: “India is the only other country with an expansion project, which aims to increase India’s maleic anhydride capacity by 0.002mtpa. The capacity addition will be from the planned project, IG Petrochemicals Taloja Maleic Anhydride Plant.”