|This is an excerpt from a report that is available to subscribers of Stratas Advisors’ Global Petrochemical Outlook service. The full report includes geographical-specific sections that contains information about Asia, Africa, Europe, North America, Latin America, Middle East and Russia-CIS. Not a subscriber? Create an account.
Growth in global demand of petrochemicals is projected to remain strong through 2040. Petrochemical capacities need to keep up to meet the increased demand. Asia will lead the addition of petrochemical capacity, followed by the Middle East and North America.
Asia-Pacific will be leading region for petrochemical investment in the upcoming years. Current ethylene capacity of the Asia-Pacific region is 74 MMtpa. There are 55 announced grassroots petrochemical projects in Asia-pacific, out of which 13 are in the planning stage. About US$288 billion of investment in the petrochemical sector is announced for this region in next five years.
China is the leader in announced projects with 33, followed by India and South Korea.
A summary of major grassroots projects across the globe is presented in the map below.
Here are some highlights of the full report:
- Asia will lead petrochemical investment projects in next five years with US$288 billion.
- The Middle East is the second-leading region for petrochemical investment projects with US$139 billion.
- North America will have significant capacity expansion with 25 grassroot projects announced in the next five years. The total investment announced for next year is US$100 billion