Asia is set to lead the global acrylonitrile butadiene styrene (ABS) industry capacity additions with a share of 89% by 2026, by gaining capacities from new-build and expansion projects between 2022 and 2026, forecasts GlobalData, the data and analytics company.
GlobalData’s latest report Acrylonitrile Butadiene Styrene Industry Installed Capacity and CapEx Forecast by Region and Countries including details of All Active Plants, Planned and Announced Projects, 2022-2026, reveals that the total ABS capacity of new-build and expansion projects in Asia is expected to reach 2.52 million tonnes per annum (mtpa) by 2026. The growing automotive industry in emerging economic countries such as China and India will lead to an increase in ABS industry growth in the near future.
Himani Pant Pandey, Oil and Gas Analyst at GlobalData, comments: “Asia is expected to add a capacity of 2.34mtpa from six new build planned and announced projects, and 0.19mtpa from two planned and announced expansion projects.”
China and India are the only countries that will see ABS capacity additions in Asia. China will mainly gain ABS capacity additions from six planned projects. INEOS Styrolution Ningbo ABS Plant 1, Jilin Petrochemical Company Jilin ABS Plant 4, and Shandong Yulong Petrochemical Longkou ABS Plant lead among new build and expansion plants in China with a capacity of 0.60mtpa each.
Himani concludes: “In India, the capacity additions will come from three announced plants consisting of Supreme Petrochem Nagothane ABS Plant 1 and Supreme Petrochem Nagothane ABS Plant 2 with a capacity of 0.70 mtpa each, followed by Bhansali Engineering Polymers Satnoor ABS Plant with a 0.04mtpa capacity.”