The global styrene-butadiene-rubber (SBR) capacity is set to see considerable growth over the next five years, potentially increasing from 7.92 mtpa in 2019 to 8.57 mtpa in 2024, registering total growth of 8%.
GlobalData’s latest report, ‘Global Styrene-Butadiene-Rubber (SBR) Industry Outlook to 2024 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’, states that approximately seven planned and announced plants are scheduled to come online primarily in Asia and the Middle East.
Within Asia, China has three planned SBR plants with a total capacity of approximately 0.30 mtpa by 2024. The country is expected to spend capital expenditure (CapEx) of $0.28bn. Major capacity additions will be from China Petrochemical Corp and Zhejiang Rongsheng Holding Group Co Ltd.
In the Middle East, Iran is the only country with one planned capacity addition of approximately 0.14 mtpa by 2024. The country is expected to spend a total of $0.02bn by 2024. Sadaf Petrochemical Assaluyeh Co is the only company accounting for the entire capacity additions in Iran.
Global Planned and Announced Capacity Additions by Region (mtpa), 2024
The former Soviet Union has only one planned plant in Russia with a capacity of 0.06 mtpa by 2024. The CapEx for the plant is $0.06bn by 2024.
Sadaf Petrochemical Assaluyeh Co, Indian Oil Corp Ltd, and China Petrochemical Corp are the top three companies by planned capacity additions globally over the upcoming years.