GlobalData’s latest report, ‘Global Ethylene Capacity and Capital Expenditure Outlook, 2022-2030 – Asia Leads Global Ethylene Capacity Additions’, states that the global capacity is poised to see considerable growth over the upcoming years, potentially increasing from 214.30 million tonnes per annum (mtpa) in 2021 to 319.84mtpa in 2030. Around 147 planned and announced plants are slated to come online, primarily in Asia and the Middle East.
In Asia, the majority of the capacity additions are in China, with a total capacity of about 38.53mtpa by 2030. The country is expected to spend a capital expenditure (capex) of $27.01bn. Shandong Yulong Petrochemical is the top company accounting for the major capacity additions in China.
In the Middle East, Iran leads, with planned and announced capacity additions of about 11.27mtpa by 2030. The country is expected to spend a total of $5.86bn by 2030. The National Petrochemical Co and Sepehr Makran Iran are the top companies accounting for the major capacity additions in Iran.
In the Former Soviet Union (FSU), the majority of capacity additions are in Russia, with planned and announced capacity additions of about 8.58mtpa by 2030. Capex for these plants totals $5.12bn by 2030. Major capacity additions will be from RusGazDobycha and Sibur Holding.
In North America, the majority of ethylene capacity additions are in the US, with planned and announced capacity additions of about 3.84mtpa by 2030. Capex for these plants totals $1.72bn in the upcoming years.
In Europe, Belgium plans to spend $1.02bn to add capacity of about 1.50mtpa, expected onstream by 2030.
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In Africa, Egypt plans to spend $0.48bn to add capacity of about 1.50mtpa, expected onstream by 2030. Shandong Yulong Petrochemical, China Petrochemical Corp, and Exxon Mobil Corp are the top three companies by planned and announced capacity additions globally over the upcoming years.