Asia to add 47% of global ethylene capacity growth by 2030
Asia is expected to lead the global ethylene industry capacity growth from new-build and expansion projects between 2019 and 2030, with a 47% share, according to GlobalData.
The company’s report ‘H2 2019 Global Ethylene Capacity and Capital Expenditure Outlook – China Leads Globally in Terms of Planned and Announced Ethylene Capacity Additions’ reveals that the total ethylene capacity of new-build and expansion projects in Asia is expected to add 49.95 million tpy by 2030. Of this capacity addition, 47.00 million tpy will come from new-build projects and the remaining 2.96 million tpy will come from expansion projects.
Dayanand Kharade, Oil and Gas Analyst at GlobalData, explains: “Asia will dominate the global ethylene market, as the region is coming up with the large capacity additions in China and India. Together, these two countries are set to add around 35.97 million tpy, accounting for 72% of the region’s capacity additions.”
The Middle East is expected to have the second highest ethylene capacity additions globally by 2030. The region contributes about 20.66 million tpy of the total global new-build and expansion ethylene capacity additions by 2030. Of the total capacity, 20.01 million tpy is likely to come from new-build projects and the rest is from expansion projects.
North America stands third, with a new-build and expansion ethylene capacity of 16.78 million tpy by 2030. Of these, most of the ethylene capacity additions will come from new-build projects.