India is likely to start the operations of 281 petrochemicals projects from 2021 to 2025, accounting for nearly 34% of the total upcoming petrochemicals project starts in Asia by 2025, according to GlobalData, a data and analytics company.
GlobalData’s latest report, ‘Global Petrochemicals New-Build and Expansion Projects Outlook, 2021-2025’, reveals that out of the 281 projects expected to commence operations in India, polypropylene projects will be 21, and propylene projects will be 16. Ethylene and polyethylene projects will be 15 projects each.
Bhargavi Gandham, Oil & Gas Analyst at GlobalData, comments: “India is one of the largest consumers of petrochemicals globally. Petrochemicals demand in India is outpacing supply due to consistent economic growth. Petrochemicals are one of the fastest-growing industries in the Indian economy as it supports other growing industries such as construction, pharmaceuticals, etc.”
Polypropylene projects will constitute around 7% of all petrochemical projects starts in India between 2021 and 2025. Among the upcoming polypropylene projects, the Reliance Industries Jamnagar Polypropylene Plant 3 project leads with a production capacity of 5.20 mtpa. The project is expected to start operations in 2025.
GlobalData notes that propylene projects will constitute around 6% of all petrochemical projects starts in India during the review period. Among the upcoming propylene projects, the Haldia Petrochemicals Kakinada Propylene Plant project leads with a production capacity of 1.6 mtpa. It is expected to start operations in 2024.