Driven by Asia and the Middle East, polypropylene production capacity is expected to grow

According to the June 24 news, GlobalData said that driven by Asia and the Middle East, global polypropylene production capacity is expected to increase by 34% from 85.57 million tons per year in 2019 to 118.66 million tons per year in 2023.

 The company's report "Global Polypropylene Industry Outlook - Capacity and Capital Expenditure Forecasts for 2023" shows that there are about 108 polypropylene plants planned to be put into production and announced in the next four years, mainly in Asia and the Middle East.

 Asian polypropylene production capacity is expected to increase from 51.61 million tons per year in 2019 to 65.33 million tons per year in 2023, an average annual increase of 5.9%. In 2023, China's production capacity in the region will increase by about 11.63 million tons / year. The new main capacity will come from Wuhan Polypropylene Plant No. 2 of Sinopec Wuhan Petrochemical Co., Ltd., and its production capacity will reach 1.1 million tons per year by 2023.

 GlobalData's oil and gas analyst Dayanand Kharade said: "As the urbanization process and income levels continue to increase, mainly due to increased demand for packaging polypropylene, is promoting large-scale capacity increase in China and India. It is expected that these two countries will be looking forward to During the period, it accounted for 40% of the global capacity increase."

GlobalData has determined that the Middle East is the region with the second-highest growth in polypropylene capacity, from 9.22 million tons per year in 2019 to 14.8 million tons per year in 2023, with an average annual growth rate of 11.8%. The new main capacity will come from a declared plant, Jam Poly's Assaluyeh polypropylene plant 2, which will reach 550,000 tons per year by 2023.