06-Aug-19
Global ethylene capacity is poised to register a considerable growth of 40% from 189.13 mln tpa in 2018 in 264.13 mln tpa in 2023, led by Asia and North America, as per GlobalData. Around 126 planned and announced plants are scheduled to come online, predominately in Asia and North America, over the next five years.
Ethylene capacity in Asia is expected to increase at an AAGR of 8.7% from 66.82 mln tpa in 2018 to 103.33 mln tpa in 2023. Among the countries in the region, China will add a capacity of around 20.92 mln tpa by 2023. Major capacity addition will be from Exxon Mobil Corporation Zhoushan Ethylene Plant, with a capacity of 1.80 mln tpa by 2023. GlobalData identifies North America as the second-highest region in terms of capacity additions in the global ethylene industry, increasing from 48.01 mln tpa in 2018 to 63.22 mln tpa in 2023, at an AAGR of 5.5%. Most ethylene capacity additions will be from the US, with a capacity of around 14.55 mln tpa by 2023. Dayanand Kharade, oil and gas analyst at GlobalData, said, “Asia will dominate the global ethylene market, mainly due to China having both the biggest number of new projects and the largest absolute capacity expansion driven by the country’s economic growth. The country is set to build around 34 ethylene projects in the next five years.”
Ethylene capacity in Africa expected to increase at an average annual growth rate (AAGR) of 18.6 per cent from 1.83 mln tpa in 2018 to 4.63 mln tpa in 2023, according to GlobalData. Most ethylene capacity additions will be from Egypt with a capacity of around 1.70 mln tpa by 2023. The Middle East ethylene capacity is expected to increase at an AAGR of 5.3% from 36.04 mln tpa in 20218 to 46.94 mln tpa in 2023. With the Former Soviet Union (FSU), ethylene capacity is expected to increase at an AAGR of 16.7% from 5.29 mln tpa in 2018 to 12.18 mln tpa in 2023. Russia will add around 5.76 mln tpa by 2023.
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