Global Phenol capacity is poised to see considerable growth over the next five years, potentially increasing from 14.32mtpa in 2020 to 18.55mtpa in 2025, registering total growth of 29%.
GlobalData’s latest report, ‘Global Phenol Industry Outlook to 2025 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’ states that around 13 planned and announced plants are slated to come online, primarily in Asia and Europe.
Within Asia, India has four planned and announced Phenol plants, with a total capacity of about 1.70mtpa by 2025. The country is expected to spend a capital expenditure (capex) of $0.35bn. Major capacity additions will be from a planned project, Reliance Industries Jamnagar Phenol Plant.
In North America, INEOS Phenol Mobile Phenol Plant is the only announced project in the US with a capacity of about 0.31mtpa. The country is expected to spend a total of $0.14bn.
Europe has one announced project, in Poland, that contributes 2.19mtpa by 2025. The capex for the plant is $2.08bn.
Reliance Industries, Haldia Petrochemicals and Jiangsu Ruisheng New Material Technology will be the top three companies globally in terms of planned and announced capacity additions over the upcoming years.