Foreign
CHINA is set to drive capacity growth in the global ethylbenzene industry from planned and announced plants between 2019 and 2023, contributing around 59% of global growth by 2023, says GlobalData, a leading data and analytics company.
The company’s report, ‘Global Ethylbenzene Industry Outlook to 2023 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’, reveals that around eight planned and announced plants are scheduled to come online in China over the next five years.
China is expected to have a new-build ethylbenzene capacity of 5.20 million tonnes per annum (mtpa) by 2023. Planned plants account for all of the new-build capacity addition in the country. Among these, Zhejiang Petrochemical Daishan Ethylbenzene Plant 1 has the highest capacity of 1.30 mtpa. The plant is expected to start operations in 2019.
Dayanand Kharade, Oil and Gas Analyst at GlobalData, says: “China will dominate the global ethylbenzene market in the mid-term with most of the capacity additions being driven by the packaging sector.”
GlobalData identifies India as the second highest country in terms of capacity additions in the global ethylbenzene industry. The country will add a new-build capacity of 0.85 mtpa by 2023. ‘Indian Oil Corporation Paradip Ethylbenzene Plant’ and ‘ONGC Petro additions Dahej Ethylbenzene Plant’ are the two announced plants in India accounting for the entire capacity growth by 2023.
Egypt stands third with new-build ethylbenzene capacity of 0.76 mtpa by 2023. A planned plant, Egyptian Styrene & Polystyrene Production Company Alexandria Ethylbenzene Plant and an announced plant, Tahrir Petrochemicals Company Ain Sokhna Ethylbenzene Plant in Egypt account for the entire capacity additions by 2023.
_AUG 30, 2019 @12:55 GMT |
Tags: China set to lead global ethylbenzene capacity additions by 2023 says GlobalData
