Asia to lead global polypropylene capacity additions by 2025
Asia is expected to lead the global polypropylene capacity additions with a capacity of 40.32mn metric tons/year by 2025. China accounts for nearly half (47%) of Asia’s capacity additions and the country is projected to lead the global polypropylene capacity additions by 2025, says GlobalData, a leading data and analytics company.
GlobalData’s report, Global Polypropylene Industry Outlook to 2025 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants reveals that the global polypropylene capacity is poised to see considerable growth by 2025, potentially increasing from 85.57mn mt/yr in 2020 to 136.79mn mt/yr in 2025, registering a total growth of 60%.
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Amareswari Kanaparthi, Oil and Gas Analyst at GlobalData, says: “China leads the capacity additions in the region with a capacity of 19.02mn mt/yr by 2025. Majority of the additions will be from a planned project Zhejiang Petrochemical Daishan Polypropylene Plant 2 with the capacity of 0.90mn mt/yr by 2022.”
GlobalData identifies India as the second highest contributor in terms of polypropylene capacity additions with a capacity of 15.28mn mt/yr by 2025. Majority of the capacity additions will be from an announced project, Reliance Industries Jamnagar Polypropylene Plant 3, contributing capacity of 5.20mnt mt/yr respectively.
Iran will be the third highest country in terms of capacity additions with the capacity of 4.80mn mt/yr by 2025. Majority of the capacity additions will be from an announced project Jam Polypropylene Company Assaluyeh Polypropylene Plant 2 with the capacity of 0.55mn mt/yr, expected to be added by 2025.
Reliance Industries Ltd, Oriental Energy Co 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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