Global VCM capacity is poised to see considerable growth over the next five years, potentially increasing from 52.38 million tonnes per annum (mtpa) in 2022 to 58.15mtpa in 2027, registering a total growth of 11%.

Approximately ten planned and announced VCM projects are expected to come online, predominantly in Asia, followed by North America over the upcoming years.

Asia is expected to add a capacity of 4.11mtpa from four newly built planned projects, whereas, for the expansion of the existing VCM projects, the region is expected to add a capacity of 0.75mtpa from four planned and announced projects.

Within Asia, India leads with the largest capacity additions, with a capacity of 3.24mtpa from three planned projects. The main capacity addition will be from the Mundra Petrochem Mundra VCM Plant, with a capacity of 2mtpa. It is expected to commence production of VCM in 2026.                

North America follows next with a capacity of 0.80mtpa from one expansion project in the region. This capacity contribution is from an announced project, the Formosa Plastics Corporation Point Comfort VCM Plant, in the US.

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By GlobalData