A few days ago, the data and analysis company GlobalData said that Asia will lead the growth of global vinyl chloride monomer (VCM) production capacity.
The production capacity of VCM in Asia may increase from 26.
91 million tons/year in 2019 to 31.
25 million tons/year in 2024.
The average growth rate will reach 3%.
GlobalData's latest "Global VCM Industry Outlook to 2024" report shows that global VCM production capacity will increase from 49.
38 million tons/year in 2019 to 54.
81 million tons/year in 2024, an increase of 11%.
Krishna Teja Pappoppula, an oil and gas analyst at GlobalData, said: "In Asia, China will lead the growth of VCM production capacity, and China will add 2.
11 million tons of VCM production capacity per year by 2024.
China’s main new production capacity will come from Tianjin Bohai Chemical Development.
The company’s VCM device.
The device has a designed capacity of 800,000 tons per year and will be completed and put into production before 2024.
GlobalData said that in terms of new capacity, Thailand will become the second largest VCM capacity growth country in Asia, and its capacity will increase from 990,000 tons/year in 2019 to 1.
42 million tons/year in 2024, an average annual growth rate Is 7.
Thailand's newly added VCM production capacity comes from the VCM plant of Thai Vinyl Company in Maputaput, with a design capacity of 430,000 tons/year, which will be completed and put into production before 2024.
(Keyword: Asia Vinyl Chloride)