GLOBALDATA PLC Asia to lead global styrene-butadiene-rubber capacity additions by 2024, says GlobalData Posted in Oil & Gas
The global styrene-butadiene-rubber (SBR) capacity is poised to register a total growth of 8% from 7.92 million tonnes per annum (mtpa) in 2019 to 8.57 mtpa in 2024. Asia leads the capacity additions among the regions and its SBR capacity is expected to increase from 4.17 mtpa in 2019 to 4.62 mtpa in 2024 at an average annual growth rate (AAGR) of 2%, says GlobalData, a leading data and analytics company.
GlobalData's report, 'Global Styrene Butadiene Rubber (SBR) Industry Outlook to 2024 - Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants', reveals that Asia is also expected to have a new-build and expansion SBR capacity of 0.45 mtpa from five new-build and expansion projects.
Krishna Teja Pappoppula, Oil and Gas Analyst at GlobalData, says: 'Within Asia, China leads in terms of capacity additions with a capacity increase of 0.30 mtpa by 2024, which accounts for more than 65% of the region's capacity additions.'
GlobalData identifies India as the second highest country within the region in terms of capacity additions with a capacity increase from 0.48 mtpa in 2019 to 0.63 mtpa in 2024 at an AAGR of 5.4%. Major capacity additions will be from the Indian Synthetic Rubber Panipat SBR Plant with a capacity of 0.10 mtpa by 2024.
Indian Oil Corp Ltd, China Petrochemical Corp and Zhejiang Rongsheng Holding Group Co Ltd will be the top three companies in Asia in terms of planned and announced capacity additions over the outlook period.
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GlobalData plc published this content on 22 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 January 2021 13:23:05 UTC
