Asia is likely to dominate the global styrene capacity additions with a capacity of 8.16 million tons per annum (mtpa) by 2026, says GlobalData. According to the data and analytics company, China accounts for 69% of the region’s capacity additions and is expected to lead styrene capacity additions among Asian countries.
GlobalData’s report, Styrene Industry Capacity and Capital Expenditure (CapEx) Forecast by Region and Countries including details of All Active Plants, Planned and Announced Projects, 2022-2026, reveals that Asia has 16 upcoming planned and announced projects with total capacity additions of 8.16mtpa from new build projects.
Teja Pappoppula, Oil and Gas Analyst at GlobalData, comments: “Petrochina Pdvsa Guandong Petrochemical Jieyang Styrene Plant is the major planned project in Asia in terms of capacity additions, with a capacity of 0.8 mtpa by 2026. It is expected to commence the production of styrene in 2022 and is operated by Petrochina Pdvsa Guandong Petrochemical Co Ltd.”
GlobalData identifies Africa as the second-highest region in terms of capacity additions, with a capacity of 0.88mtpa by 2026. Egypt accounts for the region’s entire capacity additions. The Egyptian Petrochemicals Holding Company El-Alamein Styrene Plant leads in terms of capacity additions and is expected to commence the production of styrene in 2026.
North America will be the third-highest region in terms of capacity additions, with a capacity of 0.85mtpa by 2026. The region’s entire capacity additions are expected to be generated from the planned project, INEOS Styrolution La Porte Styrene Plant, which is expected to come online in 2023.
GlobalData expects Ineos Ltd, China Petrochemical Corp and Shandong Yulong Petrochemical Ltd to be the top three companies globally in terms of planned and announced capacity additions over the outlook period.