ChemOrbis Europe Petrochemicals Conference: Russia’s petrochemicals industry remains on growth path
During his presentation, Zotov highlighted that Russia’s polyolefins industry is still on the path of growth in spite of negative economic indicators, adding that polyolefins demand and production in the Commonwealth of Indepdent States (CIS) and Baltic countries have climbed by 6% over the past decade, following a similar growth trend as that seen in the Middle East and Asia as well as South America.
According to Zotov, Russia’s total PP production has surged by 148% since 2007, with the country’s total polyolefins capacity now exceeding 3 million tons/year. Between 2014 and 2021, the PE market in the CIS is projected to grow by 2.8% on a yearly basis while average annual growth of 4.2% is anticipated for PP.
Zotov stated that Russia will become a net exporter of PP and PE in the upcoming years, with the country’s exports being focused on Europe, Turkey and China as well as several other developing countries. “Over 4 million tons of new polyolefins capacity is planned in the CIS countries between 2016 and 2020 and SIBUR accounts for 47% of these expansion projects,” Zotov added.
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