July 15, 2022
(press release)
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China is expected to register the highest polyethylene capacity additions in Asia, contributing around 39% of the region’s capacity additions through 2026, forecasts GlobalData, a leading data and analytics company. GlobalData’s latest report, ‘Polyethylene Industry Installed Capacity and Capital Expenditure (CapEx) Forecast by Region and Countries including details of All Active Plants, Planned and Announced Projects, 2021-2026’ reveals that Asia’s polyethylene capacity is expected to increase at an average annual growth rate (AAGR) of 7.4% from 50.6 million tons per annum (mtpa) in 2021 to 73.3 mtpa in 2026. Sudarshini Ennelli, Oil and Gas Analyst at GlobalData, says: “In Asia, most of the capacity additions will be from China, which is forecast to account for approximately 39% of the region’s capacity additions. In China, the majority of the capacity additions will be from Lianyungang Petrochemical Lianyungang Polyethylene Plant 3, Oriental Energy Maoming Polyethylene Plant 1, Oriental Energy Maoming Polyethylene Plant 2, and Tangshan Xu Yang Petrochemical Tangshan Polyethylene Plant 1, each with a capacity of 0.5 mtpa.” Tangshan Xuyang Petrochemical Co Ltd, China Petrochemical Corp, and Oriental Energy Co Ltd. are expected to lead among the key companies in China, with capacity additions of 1.3 mtpa, 1.1 mtpa, and 1.0 mtpa, respectively, from planned and announced polyethylene projects by 2026. Ennelli concludes: “India follows next and is expected to contribute around 8.9 mtpa, from 18 planned and announced projects. The majority of the capacity additions from India will be from a planned project, Haldia Petrochemicals Kakinada Polyethylene Plant, with a capacity of 1.2 mtpa. It is expected to commence production in 2025.”
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