Views:5 Author:Site Editor Publish Time: 2019-07-12 Origin:Site
Source: China Chemical Industry News July 04, 2019
In the next five years, global polyethylene (PE) production capacity is expected to increase substantially, from about 110 million tons per year in 2018 to 157 million tons per year in 2023. Under the leadership of Asia and North America, global polyethylene production capacity will increase by 43%.
The company's report shows that in the next five years, there are about 159 factories planning and announcing the construction of PE devices, mainly in Asia and the Middle East. Asian PE capacity is expected to increase from 39.87 million tons/year in 2018 to 57.1 million tons/year in 2023, with an average annual growth rate of 7.2%. By 2023, China's production capacity in the region will increase by 7.56 million tons per year. GlobalData oil and gas analyst Dayanand Kharade said: \"In Asia, China's PE demand will continue to grow. To meet this demand, China will greatly increase production capacity. China will account for more than 40% of Asia's new polyethylene production capacity.\"
North America is the second most productive region in the global PE industry. GlobalData pointed out that it is expected to increase from 23.15 million tons/year in 2018 to 33.82 million tons/year in 2023, with an annual growth rate of 7.6%. Most of the increased PE capacity comes from the United States, and by 2023 the capacity will be approximately 9.35 million tons/year. In the Middle East, PE capacity is expected to increase from 20.8 million tons/year in 2018 to 28.52 million tons/year in 2023. Kharade added: \"For North America and the Middle East, low-cost and abundant natural gas supply is the main reason for the surge in PE production capacity. In addition to the advantages of raw materials, the target export to other American countries is also the reason for the substantial increase in production capacity of the United States.
The PE capacity in Russia is expected to increase from 2.95 million tons/year in 2018 to 9.16 million tons/year in 2023, with a compound annual growth rate of 22.6%. Africa will increase from 2.05 million tons/year in 2018 to 4.7 million tons/year in 2023, with a compound annual growth rate of