China to dominate new petrochemicals projects in Asia through 2025, forecasts GlobalData
China is likely to commence the operations of 412 petrochemicals projects between 2021 and 2025, accounting for about 50% of the total upcoming petrochemicals project starts in Asia by 2025, according to GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Global Petrochemicals New-Build and Expansion Projects Outlook, 2021-2025’ reveals that out of 412 projects expected to commence operations in China, polypropylene projects would be at 45, propylene projects would be at 39, and polyethylene projects at 29.
Bhargavi Gandham, Oil & Gas Analyst at GlobalData, comments: “China is one of the leading consumers and importers of petrochemicals globally. The large number of upcoming petrochemicals projects in the country can be ascribed to its goal of reaching petrochemicals self-sufficiency.”
GlobalData also notes that propylene projects would constitute around nine percent of all petrochemical projects’ starts in China during the period 2021 to 2025. Among the upcoming propylene projects, the Shandong Yulong Petrochemical Longkou Propylene Plant 1 project leads with a production capacity of 2.30 mtpa. The project is presently in the construction stage and is expected to start operations in 2025.