Lagos — Asia is likely to lead the global propylene capacity additions with a capacity of 35.18 million tons per annum (mtpa) by 2026, with China dominating the region’s propylene capacity additions accounting for a share of 65%, forecasts GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Propylene Industry Installed Capacity and Capital Expenditure (CapEx) Market Forecast by Region and Countries including details of All Active Plants, Planned and Announced Projects, 2022-2026’, reveals that Asia has 64 upcoming planned and announced projects with total capacity additions of 34.86 mtpa coming from new build projects and the remaining capacity from the expansion of existing projects.
Teja Pappoppula, Oil and Gas Analyst at GlobalData, comments: “In Asia, Shandong Yulong Petrochemical Longkou Propylene Plant 1 leads in terms of capacity additions with a capacity of 2.3 mtpa by 2026. Operated by Shandong Yulong Petrochemical Ltd, it is expected to commence production of propylene in 2025.”
GlobalData identifies the Middle East as the second highest region in terms of capacity additions with a capacity of 6.12 mtpa by 2026. In the Middle East, Iran will account for over 57% of the region’s capacity additions. The National Petrochemical Company Mahshahr Propylene Plant leads in terms of capacity additions. It is expected to commence production of propylene in 2025.
North America will be the third highest region in terms of capacity additions with the capacity of 2.93 mtpa by 2026. With a capacity of 0.75 mtpa, Enterprise Products Partners Mont Belvieu Propylene Plant 4 would lead the capacity additions in the country by 2026. It is expected to come online in 2023.
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.
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