The imminent Asian olefins capacity wave
Asia will dominate olefins capacity growth through to 2025, with 2021-2022 being the peak year. In 2021 alone, China will add nearly 8 million tonnes of new ethylene capacity, while the rest of Asia is expected to add another 2 million tonnes. Some new units will be integrated with downstream derivatives, while some will inject more merchant volumes into the olefins market. Capacity addition in Asia is projected to be much greater than its demand growth in 2021, especially when the rest of Asia is still battling with the second wave of the pandemic, which has put pressure on demand recovery after 2020. In this insight, we give you the details on Asia olefins projects that will be added during 2021 and their impact on prices outlook. Please download and access the full insight in the PDF document.