The company’s report: ‘H1 2019 Global Petrochemicals Capacity and Capital Expenditure Outlook – Asia and the Middle East to Lead Global Petrochemical Capacity Additions’ reveals that around 1320 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 tpy with the help of 305 planned and announced petrochemical plants. The country is expected to spend a capital expenditure (CAPEX) of US$91.5 billion during the period. Hengli Petrochemical and China Petrochemical Corp are the top two companies accounting for the major capacity additions in China.
