Published on September 28, 2018
Asia and the Middle East, the global petrochemicals market capacity is anticipated to grow from 1.5472 billion tpy in 2017 to 1.9315 billion tpy in 2026, as per source.
Asia, the Middle East and North America will be the top regions contributing to capacity additions during the outlook period. Within Asia, with 244 out of the total 482 planned and announced petrochemical plants and a total capacity of 98.2 million tpy by 2026, China is the top country. Capital expenditure (CAPEX) for these plants in China is estimated to total US$51.6 billion. China Petrochemical, Zhejiang Petrochemical and Wanhua Chemical are the top three companies accounting for the major capacity additions in China.
In the Middle East, the majority of capacity additions will be in Iran, with planned and announced capacity additions of around 63 million tpy by 2026. CAPEX for these plants totals US$27.9 billion. Sepehr Energy is the top company accounting for the major capacity additions in Iran.
