SINGAPORE (ICIS)--Asian demand for ethylene will expand at a compounded annual growth rate (CAGR) of 6.2% in 2012-2017, a senior industry executive from Kuwait Petroleum International (KPI) said on Thursday.
This compares with the 4.0% CAGR in North America and the 0.5% contraction in Europe over the same period, said Shailendra Mohite, senior engineer corporate planning at KPI.
Overall, demand for ethylene will increase by 29m tonnes/year in 2012-2017, he said.
Meanwhile, some 34m tonnes/year of new ethylene capacity will be added over the same period, according to Mohite.
In 2011-2020, some 40.5m tonnes/year of new ethylene capacity will come on stream, with Asia and the Middle East representing 70% of this increase. The remainder of the ethylene capacity increase will be from North America, according to Mohite.
Mohite was speaking at the Downstream Asia 2013 conference in Singapore which runs on 30-31 October.