BAKU, Azerbaijan, October 26. Asia is expected to be the leader in increasing capacity in the global propylene industry with a 67-percent share by 2030 as it expands capacity through new construction and expansion projects, Trend reports via GlobalData analytics company.
According to the report, the total propylene production capacity in new construction and expansion projects in Asia will reach 42.1 million tons per year in 2030. Of this amount, 41.8 million tons per year are expected to come from new construction projects, while the rest - is from expansion projects.
"Asia will continue to lead the global propylene market with a larger number of new projects driven by key economies in the region, including China," Sudarshini Ennelli, Oil and Gas Analyst at GlobalData said.
Meanwhile, based on earlier reports from GlobalData, the Middle East ranks second among main propylene producers, while North America is projected to be the third-highest region in terms of propylene capacity additions.
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