Global Petrochemicals Capacity and Capital Expenditure Outlook

Global Petrochemicals Capacity and Capital Expenditure Outlook – Asia and North America Continue to Add to Petrochemicals Expansion               

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  • Global petrochemicals capacity is expected to see considerable growth in the next five years, increasing from 1,457 mmtpa in 2015 to 1,735 mmtpa in 2020. Around 717 planned projects are slated to come online in the next five years, primarily in China, US and Iran.
  • Asia, Middle East and North America are the top regions contributing capacity additions in the next five years. Asia has three hundred and forty-one planned projects, out of which China has 201 projects with a total capacity of 75 mtpa by 2019. Capital expenditure of these projects in China is estimated to total US$41.1 billion by 2019. China Petroleum & Chemical Corporation, CNOOC Limited and Shenhua Group Corporation Limited are the top three companies accounting for the major capacity additions in China.
  • In the Middle East the majority of capacity additions are planned in Iran, Saudi Arabia and Oman, adding capacity of about 54 mtpa by 2020 with capital expenditure of US$23.6 billion. Major capacity additions will be from Saudi Arabian Oil Company and Sepehr Energy Corporation.
  • In North America, the majority of capacity additions are in the US, with planned capacity of about 44.1 mtpa and capex of US$37.4 billion by 2020. Sasol Limited and Royal Dutch Shell plc are the top two companies accounting for the major capacity additions in the US.
  • Africa is expected to see spend of US$9.4 billion to add capacity of 20.1 mtpa by 2020. In Former Soviet Union, Russia has 39 planned projects adding capacity of about 14.0 mtpa, with capital expenditure of US$22.8 billion over the next five years. SIBUR Holding and Nizhnekamskneftekhim are the top two companies accounting for major capacity additions in Russia.
  • In South America, Venezuela and Brazil are expected to add capacity of 3.9 mtpa by 2020. Pequiven, Petroquimica de Venezuela, SA is the top company accounting for the major capacity additions. In Oceania, Australia and Papua New Guinea will spend approximately US$3.1 billion to add 3.7 mtpa of capacity, expected onstream by 2018.

 

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