Asia Will Drive Substantial Global Petrochemicals Capacity Additions to 2020
Global petrochemicals capacity will grow considerably over the next five years, increasing from 1,464 million metric tonnes per annum (mmtpa) in 2015 to 1,708 mmtpa by 2020, according to research and consulting firm GlobalData. The company’s latest report states that around 647 planned projects are slated to come online in the next five years, driven primarily by China, the US, and Iran. Asia has over half of all planned projects, with China responsible for 176 projects with a total capacity of 64 mmtpa by 2019. ….