GlobalData’s latest report, “Global Petrochemicals New-Build and Expansion Projects Outlook, 2021-2025” indicates that 1,365 upcoming petrochemicals projects are expected to start operations globally during the 2021 to 2025 outlook period. Of these, 1,189 represent new build projects and 176 are expansions of existing projects.
Polypropylene is one of the key petrochemicals expected to witness significant project starts (128) during the 2021 to 2025 outlook period. Polyethylene and propylene would also witness substantial project starts by 2025 with 118 and 99, respectively.
Majority of the upcoming petrochemicals projects are in the construction stage (760), followed by approval, and feasibility stages with 353, and 116 projects, respectively.
Methanol would be one of the key petrochemicals to witness significant capacity additions with about 95.8 million tonnes per annum (mtpa) during the outlook period. Ethylene and polypropylene are also expected to witness substantial capacity additions of 80.9 mtpa and 54.8 mtpa, respectively.
Iran would have the highest methanol production capacity of 25.2 mtpa from new build and expansion projects by 2025. China and Russia follow with capacities of 21.6 mtpa and 14.6 mtpa, respectively.
Reliance Industries Jamnagar Methanol Plant in India, with a capacity of 3.60 mtpa, leads in terms of production capacity among methanol projects expected to start operations globally by 2025. Nauticol Energy Grande Prairie Methanol Plant Expansion 1 in Canada, and Ningxia Baofeng Energy Group Yinchuan Methanol Plant 3 in China follow with production capacities of 2.40 mtpa, and 2.38 mtpa, respectively.