Asia to lead propylene capacity addition by 2026: GlobalData

China will dominate the region, accounting for a share of 65%

SOCAR Polymer launches two new random copolymer polypropylene grades

Asia is likely to lead the global propylene capacity additions with a capacity of 35.18 million tons per annum (mtpa) by 2026, forecasts GlobalData, a leading data, and analytics company. China would dominate the region’s propylene capacity additions accounting for a share of 65%.

GlobalData’s latest report, ‘Propylene Industry Installed Capacity and Capital Expenditure (CapEx) Market Forecast by Region and Countries including details of All Active Plants, Planned and Announced Projects, 2022-2026’, says Asia has 64 upcoming planned and announced projects with total capacity additions of 34.86 mtpa coming from new build projects and the remaining capacity from the expansion of existing projects.

Teja Pappoppula, oil and gas analyst at GlobalData, says, “In Asia, Shandong Yulong Petrochemical Longkou Propylene Plant 1 leads in terms of capacity additions with a capacity of 2.3 mtpa by 2026. Operated by Shandong Yulong Petrochemical, it is expected to commence production of propylene in 2025.”   

GlobalData identifies the Middle East as the second highest region in terms of capacity additions with a capacity of 6.12 mtpa by 2026. In the Middle East, Iran will account for over 57% 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.

North America will be the third highest region in terms of capacity additions with a capacity of 2.93 mtpa by 2026. With a capacity of 0.75 mtpa, Enterprise Products Partners Mont Belvieu Propylene Plant 4 would lead the capacity additions in the country by 2026. It is expected to come online in 2023.

Oriental Energy, Shandong Yulong Petrochemical and Indian Oil Corp will be the top three companies globally in terms of planned and announced capacity additions over the outlook period. 

The Covid-19 pandemic led to the country-wide lockdown on 25 March 2020. It will be two years tomorrow as I write this. What have we learned in this time? Maybe the meaning of resilience since small companies like us have had to rely on our resources and the forbearance of our employees as we have struggled to produce our trade platforms.

The print and packaging industries have been fortunate, although the commercial printing industry is still to recover. We have learned more about the digital transformation that affects commercial printing and packaging. Ultimately digital will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future.

Web analytics show that we now have readership in North America and Europe amongst the 90 countries where our five platforms reach. Our traffic which more than doubled in 2020, has at times gone up by another 50% in 2021. And advertising which had fallen to pieces in 2020 and 2021, has started its return since January 2022.

As the economy approaches real growth with unevenness and shortages a given, we are looking forward to the PrintPack India exhibition in Greater Noida. We are again appointed to produce the Show Daily on all five days of the show from 26 to 30 May 2022.

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