BAKU, Azerbaijan, September 7. Asia is projected to lead global propylene production with additional capacity of 35.1 million tons per year by 2026, Trend report via GlobalData analytics company.
According to the forecast, China is likely to dominate total Asian propylene capacity additions accounting for a share of 65 percent.
In total, “Asia has 64 upcoming planned and announced projects with total capacity additions of 34.8 million tons per year coming from new build projects and the remaining capacity from the expansion of existing projects,” the report said.
As the company believes, the Middle East will rank second among main propylene producers with a capacity of 6.1 million tons per year by 2026.
“Iran will account for over 57 percent of the region’s capacity additions. The National Petrochemical Company Mahshahr Propylene Plant leads in terms of capacity additions. It is expected to commence production of propylene in 2025,” the report added.
Meanwhile, GlobalData expects North America to be the third highest region in terms of propylene capacity additions - 2.93 million tons per year by 2026.
“With a capacity of 0.75 million tons per year, Enterprise Products Partners Mont Belvieu Propylene Plant 4 would lead the capacity additions in the US by 2026. It is expected to come online in 2023,” the company added.
As GlobalData noted, Oriental Energy Co Ltd, Shandong Yulong Petrochemical 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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