Daily Newsletter

07 December 2023

Daily Newsletter

07 December 2023

Asia to dominate global phenol capacity additions by 2027

The continent is predicted to add a capacity of 2.48mtpa from seven new-build planned developments.

GlobalData Energy December 06 2023

Global phenol capacity additions by region planned, 2027. Credit: GlobalData.

Global phenol capacity is poised to see considerable growth over the next five years, potentially increasing from 15.65 million tonnes per annum (mtpa) in 2022 to 18.62mtpa in 2027, registering a total growth of 19%.

Ten planned and announced phenol projects are expected to come online, predominantly in Asia, followed by North America over the coming years.

Asia is expected to add a capacity of 2.48mtpa from seven new-build planned projects, whereas there is no expansion in the region.

Within Asia, the major capacity addition is from an announced project, Reliance Industries Jamnagar Phenol Plant, with a capacity of 1mtpa. It is expected to come online in 2026.

It is followed by another announced project, Zhejiang Petrochemical Daishan Phenol Plant 3, with a capacity of 0.40mtpa, which is expected to commence production of phenol in 2027.

North America follows next with a capacity addition of 0.31mtpa from an announced project, INEOS Phenol Mobile Phenol Plant. It is expected to come online in 2026.

ESG 2.0 will be less forgiving of poor ESG performers

While ESG 1.0 was driven by voluntary corporate action, ESG 2.0 is being driven by a new wave of government policies. A host of new environmental laws are in the pipeline, relating to mandatory reporting, carbon pricing, and carbon import tariffs, as well as more state support and investment in clean energy technologies. Companies unprepared for ESG 2.0 face higher costs and lost sales.

Find Out More

Ammonia and Methanol in Energy Transition

Ammonia and methanol are key industrial chemicals with strong demand in the agriculture, manufacturing, and construction sectors. The demand for these chemicals is expected to rise in the coming years due to their potential applications in energy transition. Low-carbon ammonia is garnering the most attention from oil and gas industry players with nearly 300 plants in development globally.

Find Out More

Newsletters by sectors

Mining Technology open-new-tab

Power Technology open-new-tab

Energy Monitor open-new-tab

View more newsletters

Sign up to the newsletter

I consent to Verdict Media Limited collecting my details provided via this form in accordance with Privacy Policy

close

Sign up to the newsletter: In Brief

Your corporate email address *
First name *
Last name *
Company name *
Job title *
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close