China to Lead Asia's Petrochemical Project Starts by 2030
China is expected to account for over 60% of upcoming petrochemical project starts in Asia by 2030, driven by strong economic growth and rising demand. Polypropylene will lead new project starts, followed by polyethylene and propylene. Most projects are in the construction phase, with notable plants planned in Fujian and Zhejiang.
Asia is set to dominate the global petrochemicals project landscape, with nearly two-thirds of new projects scheduled to begin operations by 2030. China alone will account for more than 60% of these, totaling 534 projects, of which 519 are new builds. The surge is attributed to robust economic growth, rising demand from sectors such as packaging, automotive, medical, and construction, and strategic investments to reduce import reliance. Polypropylene is expected to lead new project starts in China, making up about 9% of the total, with all projects being new builds. Notable upcoming polypropylene plants include Fujian Yongrong New Materials Company Putian Polypropylene Plant 2 and Plant 1, with capacities of 1.1 and 0.9 million tonnes per annum, respectively. Polyethylene projects will account for roughly 8% of all petrochemical project starts, with most in the construction phase. Major polyethylene projects include Zhejiang Petrochemical Daishan Polyethylene Plant 7, expected to come online in 2029 with a capacity of 0.7 million tonnes per annum. Propylene is another key commodity, with significant project starts, including Shandong Yulong Petrochemical Longkou Propylene Plant 2, Fujian Yongrong New Materials Company Putian Propylene Plant 2, and SABIC Fujian Petrochemical Zhangzhou Propylene Plant. Most of these projects are under construction, while the remainder are in pre-construction stages such as feasibility and approval.
