Baku, Azerbaijan, Nov.6
Trend:
Global propylene capacity is poised to see considerable growth over the next nine years, potentially increasing from 120.4 million tonnes per annum (mtpa) in 2017 to 155.9 mtpa in 2026, according to GlobalData, a leading data and analytics company
GlobalData’s latest report, ‘Q3 2018 Global Propylene Capacity and Capital Expenditure Outlook – Dangote Industries Ltd Drives Global Capacity Additions’ reveals that globally, around 111 planned and announced propylene plants primarily located in Asia and the Middle East are expected to come online in the next nine years. At a global company level Dangote Group, Oriental Energy Co Ltd, and Formosa Plastics Group are the top three companies by planned capacity additions over the next nine years. With LyondellBasell Industries NV, Exxon Mobil Corp, and Formosa Plastics Group the top global producers of propylene in 2017, with capacities of 3.9 mtpa, 3.4 mtpa, and 2.9 mtpa, respectively.
In Europe, Belgium will provide the major propylene capacity additions with an investment of US$0.71bn in planned and announced plant capacity delivering 0.7 mtpa by 2026. In Asia, China is looking to invest US$7.33bn capital expenditure (capex) in 33 planned and announced propylene plants which will provide approx 11.0 mtpa by 2026 with Oriental Energy Co Ltd playing a leading role in these developments..
In Asia, China is looking to invest US$7.33bn capital expenditure (capex) in 33 planned and announced propylene plants which will provide approx 11.0 mtpa by 2026 with Oriental Energy Co Ltd playing a leading role in these developments.
The US has three planned and announced propylene plants, with a capacity of around 1.2 mtpa over the next nine years with a planned capex of US$0.90bn with Formosa Plastics Group providing major capital additions.
Dyanand Kharade, Oil and Gas Analyst at GlobalData, commented, “From the former Soviet Union (FSU) counties, Russia will deliver the most propylene capacity additions of about 1.6 mtpa by 2026 with US$1.66bn capex invested over the period.’’
In the Middle East, Iran has 14 planned and announced propylene plants, expected to start operations with total capacity of about 2.8 mtpa by 2026. Capex for these plants totals US$2.71bn over the next nine years with major capacity additions from The National Petrochemical Co.