GlobalData report: Oman leads with the largest acetic acid capacity additions by 2023

GlobalData report: Oman leads with the largest acetic acid capacity additions by 2023
Published: 16 October 2019 - 7 a.m.
By: Martin Menachery
Global acetic acid capacity is poised to see considerable growth over the next five years, potentially increasing from 17.90 million tonnes per annum (mtpa) in 2018 to 21.66mtpa in 2023, registering total growth of 21%, according to GlobalData.

GlobalData’s latest report, Global Acetic Acid Industry Outlook to 2023 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’, states that around nine planned and announced plants are slated to come online primarily in Asia by 2023.

Dayanand Kharade, oil and gas analyst at GlobalData, comments: “Globally, methanol carbonylation is the dominant production process used for acetic acid production. In 2018, it accounted for 82.6% of the installed acetic acid capacity of 17.9mtpa. It is followed by acetaldehyde oxidation, ethanol oxidation, ethylene oxidation and ethanol-aldehyde process, which accounted for 2.6%, 1.4%, 0.9%, and 0.4%, respectively, of the total installed acetic acid capacity in the region. Others account for 12.1% of the total acetic acid capacity for the period.”

Among regions, the Middle East leads with the largest capacity additions from the upcoming acetic acid plants by 2023. For the upcoming new-build plants, the region is expected to add a capacity of 1.3mtpa from two planned and announced plants. There will be no expansion of existing plants by 2023.

Among the countries, Oman leads with the largest capacity additions, with a capacity of one mtpa from an announced plant, Oman Oil Company Duqm Acetic Acid Plant. China and the US follow and are expected to add capacity of 0.94mtpa and 0.65mtpa, respectively.

Among companies, Oman Oil Company will have the largest capacity additions from planned and announced acetic acid plants by 2023, with estimated capacity additions of one mtpa from an announced plant.

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