May 10, 2023
(press release)
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Asia is set to lead the global polyvinyl chloride industry capacity additions with a share of 70% by 2027, by gaining capacities from new-build and expansion projects between 2023 and 2027, according to GlobalData, a leading data and analytics company. GlobalData’s latest report, ‘Polyvinyl Chloride Industry Capacity and Capital Expenditure (CapEx) Forecast by Region and Countries Including Details of All Active Plants, Planned and Announced Projects, 2023-2027’ reveals that the total polyvinyl chloride capacity of new-build and expansion projects in Asia is expected to be 7.77 million tonnes per annum (mtpa) by 2027. Increased demand for polyvinyl chloride in the packaging and construction industries is the key factor driving the polyvinyl chloride industry’s growth in Asia. Nivedita Roy, Oil and Gas Analyst at GlobalData, comments: “From the upcoming new build projects, the region is expected to add a capacity of 6.18 mtpa from 12 planned and announced projects, whereas from the expansion of the existing polyvinyl chloride projects, the region is expected to add a capacity of 1.59 mtpa from seven planned and announced projects.” India and China are the key countries in Asia in terms of polyvinyl chloride capacity additions. The main capacity addition in India will be from a planned project, Mundra Petrochem Mundra PVC Plant, with a capacity of 2 mtpa. It is expected to commence production of polyvinyl chloride in 2026. Nivedita concludes: “In China, the main capacity addition will be from two planned projects, Shenhua Yulin PVC Plant and Xinjiang Zhongtai Chemical Company Baicheng PVC Plant, with a capacity of 0.50 mtpa each. Both projects are expected to come online in 2023.”
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