Published on : Mar 15, 2017
ALBANY, NY, March 15, 2017: It studies the global petrochemicals capacity and the related capital expenditure, particularly in ethylene and methanol that have been at the forefront of driving expansion in the petrochemicals industry. This is because methanol finds widespread application as a feedstock in the burgeoning plastic industry and ethylene finds widespread application in the chemical industry.
The more recent petrochemical plants are significantly larger than those built over two decades ago. Hence, the older, smaller, and less efficient ones are being shut down, expanded, or, in some cases, retrofitted to produce different chemical products. This capacity addition will see massive upfront expenditure as well.
The report furnishes information on the new and cancelled projects for capacity additions. It predicts the global petrochemicals capacity to witness substantial growth in the next nine years from 1,447.9 mmtpa in 2016 to 1,619.3 mmtpa by 2025. Over 700 projects coming up in China, the U.S., and Iran in the next nine years will lead to large additions in capacity. In fact, China and the U.S. are expected to lead the propylene and ethylene capacity expansion in the near future. Petroliam Nasional Berhad, NW Innovation Works Inc, and Janus Methanol AG are the top three companies vis-à-vis capacity additions that are expected to come on-stream in the next nine years.
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The growth in the petrochemical capacity will result from an increased spending in the petrochemicals industry on new projects worldwide – almost to the tune of US$243.1 bn by 2025. The nations of Russia, the U.S., and China are slated to be the top three spenders on projects by 2025. The report studies the total petrochemicals capacity by region and furnishes important figures on it. To do so, it leveraged extensive primary research, which entailed gathering inputs from industry-leading experts and secondary research, which entailed gathering data from different sources – both paid and open source. North America and Asia are slated to contribute the most to petrochemicals expansion.
The report throws light on the key trends in the global petrochemical industry and discusses the share of the major petrochemical producers in the world. It also predicts the future trajectory of the market. It attempts to uncover the opportunities in the global petrochemical industry with the help of upcoming projects and capital expenditure forecast. It also tries to gauge the current and future competitive scenario in the market.
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