Recently, energy giant ExxonMobil announced that it will permanently shut down its 830kt/a steam cracker at Mossmorran in Scotland, UK, in February 2026. Following this closure, the UK will be left with only one ethylene cracker. This marks another significant reduction in its European operations after the shutdown of the 425kt/a plant in Gravenchon, France, in 2024. This move is not an isolated incident but rather a reflection of the "wave of shutdowns" in the European petrochemical industry.
In stark contrast to the capacity reductions overseas, China is experiencing a peak in ethylene capacity expansion. In 2022, China became the world's largest ethylene producer. By 2025, the country is set to add nearly 10 million tons of annual capacity, with total output expected to reach 53.3 million tons, an increase of 11.9% year-on-year, and total capacity reaching approximately 62 million tons per year.