Lagos — Asia is anticipated to lead the global propylene capacity additions with a capacity of 36.65 mtpa by 2025. Within Asia, China accounts for 68% of the region’s capacity additions and the country is projected to lead the global propylene capacity additions by 2025, says GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Global Propylene Industry Outlook to 2025 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’ reveals that propylene capacity is poised to see considerable growth of 41% by 2025, potentially increasing from 133.31 million tons per annum (mtpa) in 2020 to 187.74 mtpa in 2025.
Amareswari Kanaparthi, Oil and Gas Analyst at GlobalData, says: “China leads the capacity additions in the region with a capacity of 24.77 mtpa by 2025. Major capacity addition will be from a planned project Shandong Yulong Petrochemical Longkou Propylene Plant 1, with the capacity of 2.30 mtpa by 2025 and is to be operated by Shandong Yulong Petrochemical Ltd.”
GlobalData identifies India as the second highest contributor in terms of propylene capacity additions with a capacity of 7.42 mtpa by 2025. Majority of the capacity additions will be from an announced project, Haldia Petrochemicals Kakinada Propylene Plant, contributing capacity of 1.61 mtpa by 2024.
Iran will be the third highest country in terms of capacity additions with the capacity of 3.05 mtpa by 2025. Majority of the capacity additions will be from an announced project The National Petrochemical Company Mahshahr Propylene Plant, with the capacity of 0.50 mtpa, expected to be added by 2025.
Oriental Energy Co Ltd, Shandong Yulong Petrochemical Ltd and Indian Oil Corp Ltd will be the top three companies globally in terms of planned and announced capacity additions over the outlook period.