Global polyethylene capacity is poised to see considerable growth over the next five years, potentially increasing from 130.5Mtpa in 2021 to 182.9Mtpa in 2026, registering total growth of 40.1%.
GlobalData’s latest report, ‘Global Polyethylene Industry Outlook to 2026 Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’ states that for the upcoming new build projects, Asia is expected to add a capacity of 27.0Mtpa from 67 planned and announced projects.
Within Asia, China leads with the largest capacity additions, with a capacity of 10.4Mtpa from 31 planned and announced projects. The country is expected to spend a capital expenditure (capex) of $7.26 billion.
Major capacity additions will be from Haldia Petrochemicals Kakinada Polyethylene Plant, Haldia Petrochemicals Balasore Polyethylene Plant, and Thai Polyethylene Company Map Ta Phut Polyethylene Plant 1.
The Middle East follows next and for the new build projects, the region is expected to add a capacity of 14.4Mtpa from 32 planned and announced projects. In the Middle East, Iran is expected to contribute about 8.5Mtpa, from 26 planned & announced projects. The major capacity contribution will be from a planned project, Vista Energy Arghavan Polyethylene Plant 1, with a capacity of 0.6Mtpa and is expected to come online in 2023.