Global Styrene capacity is poised to see considerable growth over the next five years, potentially increasing from 39.65 million tonnes per annum (mtpa) in 2021 to 51.56mtpa in 2026, registering total growth of 30%.
GlobalData’s latest report, ‘Global Styrene Industry Outlook to 2026 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’, states that around 28 planned and announced plants are slated to come online, primarily in Asia and Africa.
Within Asia, China has 11 planned and announced styrene plants, with a total capacity of about 5.63mtpa by 2026. The country is expected to spend a capital expenditure (capex) of $1.45bn. Major capacity additions will be from a planned project, Petrochina Pdvsa Guandong Petrochemical Jieyang Styrene Plant.
In Africa, Egypt has two planned and announced projects with a capacity of 0.88mtpa by 2026. The capex for these plants is $0.57bn.
North America has one planned project in the US with capacity additions of about 0.85mtpa. The country is expected to spend a total of $0.45bn. Entire capacity additions will be from a planned project, INEOS Styrolution La Porte Styrene Plant.
Ineos Ltd, China Petrochemical Corp and Shandong Yulong Petrochemical Ltd will be the top three companies globally in terms of planned and announced styrene capacity additions over the upcoming years.