Globally, more than 1,400 upcoming petrochemical projects are expected to start operations during the 2023 – 2027 outlook period. Of these, 1,200+ represent new build projects and the rest are expansions of existing projects.
Polypropylene and polyethylene are the key petrochemical commodities expected to witness significant project starts during the outlook period with 136 and 135, respectively. Propylene stands third with 115 project starts by 2027.
Methanol would be one of the key petrochemicals to witness significant capacity additions, with about 129.9 million tonnes per annum (Mtpa) during the outlook period.
Globally, about 795 upcoming petrochemical projects are in the construction stage and expected to start operations from 2023 to 2027.
Iran is likely to have the highest methanol production capacity additions of 30.9Mtpa from upcoming projects by 2027. Russia and China would follow with capacities of 27.6Mtpa and 18.2Mtpa, respectively.
Sherwood Energy Maysky Methanol Plant in Russia, with a capacity of 7.20 mtpa, leads in terms of production capacity among methanol projects, expected to start operations in 2027. Reliance Industries Jamnagar Methanol Plant in India and Brass Fertilizer & Petrochemical Company Brass Methanol Plant in Nigeria follow with production capacities of 3.60Mtpa, and 3.50Mtpa, respectively.
Petrochemicals New Build and Expansion Projects Analysis by Type, Development Stage, Key Countries, Region and Forecasts, 2023-2027
Further details of petrochemical projects expected to come online from 2023 to 2027 can be found in GlobalData’s new report, ‘Petrochemicals New Build and Expansion Projects Analysis by Type, Development Stage, Key Countries, Region and Forecasts, 2023-2027’.