The global polyvinyl chloride (PVC) capacity is poised to see considerable growth over the next five years, potentially increasing from 56.13Mtpa in 2019 to 65.60Mtpa in 2024, registering total growth of 17%.
GlobalData’s latest report, ‘Global Polyvinyl Chloride (PVC) Industry Outlook to 2024 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’ states that around 23 planned and announced plants are set to come online primarily in Asia, North America and Europe.
Within Asia, China has seven planned and announced polyvinyl chloride plants, with a total capacity of about 3.30Mtpa, by 2030. The country is expected to spend a capital expenditure (capex) of US$0.61bn. Major capacity additions will be from Tianjin Bohai Chemical Industry Co Ltd and China Shenhua Energy Co Ltd.
In the North America, US leads with two planned and announced capacity additions of about 0.54Mtpa by 2030. The country is expected to spend a total of US$0.05bn by 2030. Shin-Etsu Chemical Co Ltd and Formosa Plastics Group are the two companies accounting for the entire capacity additions in the US.
Europe has two planned and announced ethylene plants, of which Belgium has one with a total capacity of 0.20Mtpa by 2030. The capex for the plant is US$0.01bn by 2030. Tianjin Bohai Chemical Industry Co Ltd, Haldia Petrochemicals Ltd, and The Sanmar Group are the top three companies by planned capacity additions globally over the upcoming years.