09 November 2011 13:23 [Source: ICIS news]
MUMBAI (ICIS)--Indian exports of benzene are set to rise over the next few years as new plants start up, an industry executive said on Wednesday.
Nearly 475,000 tonnes/year of capacity is due to be added over the next three years, with new plants set to be commissioned by ONGC Mangalore Petrochemicals Ltd (OMPL), ONGC Petro-Additions Ltd (OpAL) and Reliance Industries.
Demand for major derivatives is growing at 5–10%/year, led by overall economic growth, but no major projects are on the horizon, said Dutta.
For instance, styrene demand is projected to grow from 470,000 tonnes in 2010 to 585,000 tonnes in 2012, and the entire volume will be serviced by imports as no styrene projects are in the pipeline in the country.
Demand for linear alkyl benzene (LAB), which accounts for 28% of Indian benzene consumption, is projected to grow at 5–6%/year in the next five years, but with no new capacity planned, imports are set to rise.
Phenol demand is expected to rise from 150,000 tonnes this year to more than 200,000 tonnes in 2015–2016. With local production running at around 70,000 tonnes/year, imports will account for about 60% of demand, Dutta added.
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