Asia is expected to lead the global petrochemical industry capacity growth from new-build and expansion projects by 2030 with 57% share, according to GlobalData, a leading data and analytics company.
GlobalData’s report ‘Global Petrochemicals Capacity and Capital Expenditure Outlook, 2021 - 2030 – Asia Leads Global Petrochemical Capacity Additions’, reveals that the total petrochemical capacity of new-build and expansion projects in Asia is expected to be 477 million tonnes per annum (mtpa) by 2030. Of this, 465.8 mtpa will be from new-build projects and the remaining capacity will be from expansion projects.
Dayanand Kharade, Oil and Gas Analyst at GlobalData, explains: “Asia will continue to dominate the global petrochemicals market with both the biggest number of new projects and the largest absolute capacity expansion, driven by the economic growth of China, India and other Asian countries.”
The Middle East is expected to have the second highest petrochemical capacity additions globally, behind Asia. The region contributes about 140.8 mtpa of the total global new-build and expansion petrochemical capacity additions by 2030. Major capacity additions for the Middle East will be from Iran, with a new-build and expansion capacity additions of 83.3 mtpa during the period.
Former Soviet Union stands third, with new-build and expansion petrochemical capacity of 104.1 mtpa by 2030. Of these, most of the petrochemical capacity additions will come from new-build projects.
Gurugram, India – October 11, 2023: Samsung announced exciting offers
Bangalore, 10th October 2023: The Nokia G42 5G (16GB+256G
Bengaluru, October 10, 2023 IN-SPACe (Indian National Space Promotion and
New Delhi, October 3, India- Philips India announces an exciting co
 (1)_1713611592.jpg)
Through this exciting initiative, the brand aims to emerge as the go-to purveyor of authentic Chinese in India
New D
Jaipur, 18 April: Students of Jaipur have recently shown their remarkable achievement in the UPSC Civil Services Examination-
· Technopark-based Lifology holds conversation on IER 2024
Thiru
Business / 20-04-2024
MasterChow taps renowned Chef Ranveer Brar as its Brand Ambassador to champion Asli ChineseSports / 20-04-2024
Aditya Mehta Foundation's para cyclists Jyoti Gaderiya & Arshad Shaik achieve top world rankings in the latest Track Para Rankings, bringing pride to India!Business / 18-04-2024
STUDENTS OF JAIPUR'S JAYSHREE PERIWAL HIGH SCHOOL BRING LAURELS TO SCHOOL IN UPSCBusiness / 18-04-2024
India Employment Report pitches for policy to promote jobsBusiness / 18-04-2024
The EMAK Festoon Silent Heroes Awards-24 Concludes at Le Méridien, KochiPelikken © Copyright 2022, All Rights Reserved
