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Sinochem News GlobalData recently stated that in the next five years, global polyethylene production capacity is expected to increase substantially, and it is expected to increase from 11.
12 million tons/year in 2018 to 157.
02 million tons/year in 2023
.
Under the leadership of Asia and North America, global polyethylene production capacity will increase by 43%
GlobalData said that in the next five years, there will be about 159 factories planned and announced, mainly in Asia and the Middle East
.
It is estimated that Asia's polyethylene production capacity will increase from 39.
GlobalData pointed out that North America is the region with the second largest increase in production capacity in the global polyethylene industry.
It is expected to increase from 23.
15 million tons/year in 2018 to 33.
82 million tons/year in 2023, an annual growth rate of 7.
6%
.
Most of the increased polyethylene production capacity comes from the United States, which will be approximately 9.
In the Middle East, polyethylene production capacity is expected to increase from 20.
8 million tons/year in 2018 to 28.
52 million tons/year in 2023, with a compound annual growth rate of 6.
3%
.
GlobalData Oil and Gas Analyst Dayanand Kharade said: "For North America and the Middle East, low-cost and abundant natural gas supply is the main reason for the surge in polyethylene production
.
In addition to the raw material advantage, the target export to other countries is also the reason for the US's substantial increase in production capacity.
