Asia to Contribute Nearly Half of Global Petrochemical Capacity Additions by 2030
Asia will contribute 49% of global petrochemical capacity additions by 2030, according to a new report.
Asia will contribute 49% of global petrochemical capacity additions by 2030, according to a report from GlobalData. Asia is forecast to be the major contributor to the growth of the global petrochemical industry by 2030, accounting for around 49% of the global planned and announced petrochemical capacity additions.
Around 1,320 planned and announced plants are scheduled to come online, predominantly in Asia and the Middle East. Within Asia, China plans to add a total capacity of approximately 152.4 million tonnes per annum (mtpa) with the help of 305 planned and announced petrochemical plants. The country is expected to spend a capital expenditure (capex) of $91.5 billion during the period.