MRC -- China is on the brink of asserting its dominance in the realm of acrylonitrile butadiene styrene (ABS) capacity expansions throughout Asia, said Chemanalyst.
Projections are confidently pointing towards China accounting for an overwhelming 96% of the capacity additions in Asia by 2027.
The ABS industry holds a position of paramount importance due to its role as a versatile polymer widely sought after in a myriad of end-user industries, including automotive, construction, packaging, consumer goods, and electronics. The resilient and ever-growing demand for ABS within China, primarily fueled by the nation's flourishing economy, has securely positioned China as both the largest producer and consumer of ABS on a global scale.
China's ABS capacity additions are nothing short of remarkable. The nation is slated to introduce a staggering 4.43 million tonnes per annum (mtpa) of ABS capacity through ten meticulously planned and announced projects. The magnitude of these capacity additions unequivocally underscores China's commanding position in the ABS industry landscape.
A standout contributor to this colossal capacity expansion endeavor is the Zhejiang Petrochemical Daishan ABS Plant 2, a project that has been announced and is set to exhibit a remarkable capacity of 1.20 mtpa. This plant is poised to embark on ABS production in the year 2027, marking a momentous milestone in the annals of China's ABS industry.
Furthermore, among the contributing projects, two others are poised to play pivotal roles in amplifying China's ABS capacity. The INEOS Styrolution Ningbo ABS Plant and the Shandong Yulong Petrochemical Longkou ABS Plant, both projects that have been strategically planned, are individually scheduled to augment China's ABS capacity by 0.60 mtpa. The INEOS Styrolution project was commenced its operations in 2023, while the Longkou ABS Plant is expected to spring into action in 2024.
hina's ABS capacity expansion initiative also graciously welcomes the Guangxi Changke New Material Company Fangchenggan ABS Plant, an announced project. This particular facility is primed to make a substantial contribution to China's ABS capacity by adding 0.50 mtpa and is on track to commence ABS production by 2025.
The significance of these capacity additions reverberates through China's commitment to industrial growth and its ongoing contribution to the versatile and indispensable ABS polymer industry. This polymer is widely used across various vital sectors of the economy, including automotive, construction, packaging, consumer goods, and electronics, underscores China's dedication to both its economic prosperity and its role as a leading player in the global industrial landscape.