By 2030, Asia will dominate the capacity of ethylene worldwide
According to the data analytics company-Globaldata, as time going by, Asia will improve ethylene capacity through building new programs and expand programs from 2022 to 2030 within 30 years, until 2030, Asian will account 60% market share in the world market. The prospect of PVC is to enhance the capacity increasing rate further.
It is said in the lastest report from GlobalData, till 2030, the total ethylene capacity of the new and expansion projects in Asia is expected to reach 62.64 million tons/year.
With the demand for ethylene derivatives in packagingãconstructionãtelecom and transportation(include plastics), the ethylene consumption increased, the capacity grew.
Nivedita Roy, an oil and gas analyst at GlobalData, commented that Asia is expected to increase the capacity of 60.81 million barrels per year from 50 planned and announced projects in the upcoming new project category, while from the expansion project, it is expected to increase the capacity of 1.83 million barrels per year from 8 planned and announced projects. Asia's major countries and India are the main countries with increased ethylene production capacity in Asia.
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