India is set to be the second biggest contributor to the total upcoming petrochemical project starts in Asia, as the country is likely to see the start of operations of 279 petrochemical projects from 2023 to 2027, says GlobalData, a data and analytics company.
GlobalData’s latest report, “Petrochemicals New Build and Expansion Projects Analysis by Type, Development Stage, Key Countries, Region and Forecasts, 2023-2027”, reveals that India is likely to account for over one-third of the petrochemical project starts in Asia by 2027. Out of the 279 projects that are expected to commence operations in the country, polypropylene plants lead with 24, followed by propylene at 18.
Polypropylene projects would constitute around 9% of all petrochemical projects that starts in India during the period 2023 to 2027. Among upcoming polypropylene projects, Reliance Industries Jamnagar Polypropylene Plant 3 leads with a production capacity of 5.2 mtpa and is expected to commence operations by 2026.