Global Xylenes capacity is poised to see considerable growth over the next five years, potentially increasing from 73.38Mtpa in 2020 to 113.43Mtpa in 2025, registering total growth of 55%.
GlobalData’s latest report, ‘Global Xylene Industry Outlook to 2025 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants,’ states that around 54 planned and announced plants are slated to come online primarily in Asia and the Middle East.
Within Asia, China has 20 planned and announced Xylenes capacity additions, with a total capacity of about 24.36Mtpa by 2025. The country is expected to spend a capital expenditure (CapEx) of $10.69bn. Major capacity additions will be from Zhejiang Petrochemical Daishan Xylene Plant 2.
In the Middle East, the UAE has one planned project with the capacity additions of about 1.50Mtpa by 2021. The country is expected to spend a total of $1.13bn. Abu Dhabi Oil Refining Company Abu Dhabi Xylene Plant (GAP Project) is the only plant accounting for the entire capacity additions in the country.
Hebei Xinhua Petrochemical Co Ltd, Haldia Petrochemicals Ltd and Shenghong Petrochemical Group Co Ltd will be the top three companies globally in terms of planned and announced capacity additions over the upcoming years.