MOSCOW, January 27. /TASS/. New polyethylene plants with the total capacity of 40 mln metric tons will be launched globally by 2034, head of the petrochemical department with Argus agency Vladimir Baranov said at the Ruplastica exhibition.

Polyethylene consumption will continue growing and film grades will account for 50% of the total demand, the expert said. China will act as the main driver of growth. At the same time, some polyethylene plants will be shut down, Baranov noted. Streamlining of old and low-capacity plants is expected in the environment of intensified competition.

"The year of 2025 became one of the most challenging for the European petrochemical sector. The region has no legal protection against cheap imports, particularly from China. Also, Europe focuses on the upgrade of plants from the net zero standpoint and all the funds are being spent for that. The average age of plants in Europe is about 40 years, while it is 16 years in the Middle East and 11 years in China," the expert stressed.

Regarding polypropylene production, plants with the capacity of 3.7 mln metric tons per year are expected to be phased out, where China will account for a greater portion of them, Baranov added.