Asia to lead global vinyl chloride monomer capacity

Asia to lead global vinyl chloride monomer capacity

Asia is forecast to lead the global vinyl chloride monomer (VCM) capacity additions, which is likely to increase from 26.91 million tonnes per annum (mtpa) in 2019 to 31.25 mtpa in 2024. This is at an average annual growth rate (AAGR) of 3%, according to GlobalData, a leading data and analytics company.

 

GlobalData's report, 'Global Vinyl Chloride Monomer (VCM) Industry Outlook to 2024 - Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants', reveals that the global VCM capacity is poised to register a total growth of 11% from 49.38 mtpa in 2019 to 54.81 mtpa in 2024. Asia is expected to have a new-build and expansion VCM capacity of 2.93 mtpa from 9 new-build and expansion projects during the same period.

 

Krishna Teja Pappoppula, Oil and Gas Analyst at GlobalData, says: "Within Asia, China leads in terms of capacity additions, with capacity increase of 2.11 mtpa by 2024, which accounts for more than 70% of the region's capacity additions. Major capacity additions will be from the Tianjin Bohai Chemical Development Company Tianjin Vinyl Chloride Monomer (VCM) Plant with a capacity of 0.80 mtpa by 2024.“

 

GlobalData identifies Thailand as the second highest country within the region in terms