The global petrochemical capacity is poised to see considerable growth over the coming years. There are signs that it will potentially be increasing from 1,592.5 million tonnes per annum (mtpa) in 2018 to 2,255.8 mtpa in 2030.

GlobalData’s latest report, ‘H2 2019 Global Petrochemicals Capacity and Capital Expenditure Outlook – China Leads Global Petrochemical Capacity Additions’ states that around 1,479 planned and announced plants are slated to come online primarily in Asia and the Middle East.

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In Asia, China is planning to start 349 petrochemical plants, with a total capacity of about 172.9 mtpa by 2030. The country is expected to spend a capital expenditure (capex) of US$116.2 billion. Major capacity additions will be from China Petrochemical Corp.

Iran leads in the middle east

In the Middle East, Iran leads with planned and announced capacity additions of about 75.9 mtpa by 2030. The country is expected to spend a total of US$61.0 billion by 2030. The National Petrochemical Co, Badr-e-Shargh Petrochemical Co, and Sepehr Makran Iran are the companies accounting for the major capacity additions in Iran.

In North America, the US has 122 planned and announced petrochemical plants, with a total capacity of about 71.7 mtpa by 2030. It is expected to spend a capex of about US$59.8 billion by 2030. Major capacity additions will be from NW Innovation Works Inc, IGP Methanol LLC, and Formosa Plastics Group.

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In the Former Soviet Union (FSU), the majority of capacity additions are in Russia, with planned and announced capacity additions of about 60.4 mtpa by 2030. Capex for these plants totals US$48.6 billion by 2030. Sibur Holding and Sherwood Energy Ltd are the top companies accounting for the major capacity additions in Russia.

In Africa, petrochemical capacity additions are in Egypt, with planned and announced capacity additions of about 10.2 mtpa by 2030. The country is expected to spend a capex of about US$9.2 billion in the coming years.

In Europe, Belgium plans to spend US$2.7 billion to add capacity of about 3.1 mtpa, expected onstream by 2030. In South America, Brazil plans to spend US$9.3 billion in the coming years to add capacity of 8.6 mtpa, expected to come onstream by 2030.

Haldia Petrochemicals Ltd, China Petrochemical Corp, and Indian Oil Corp Ltd are the top three companies by planned and announced capacity additions globally over the upcoming years.