June 2016

Trends and Resources

Business Trends: Will India be Asia’s next downstream powerhouse?

The Asia-Pacific region dominates in the total number of active projects in all sectors of the downstream hydrocarbon processing industry. Just as China has seen unprecedented growth over the past decade, India is emerging as the globe’s new oil demand center.

Nichols, Lee, Hydrocarbon Processing Staff

FIG. 1. New downstream project announcements by region, May 2014–present. Source: Hydrocarbon Processing’s Construction Boxscore Database. Unlike the rest of the world, the Asia-Pacific region’s new downstream project announcements have increased over the past year (FIG. 1). According to Hydrocarbon Processing’s Construction Boxscore Database, the Asia-Pacific region has added more than 250 new projects since 2013. This represents 25% of the total number of new projects announced globally within that same time frame. This is second only to the US, which has registered nearly 300 new project announcements since 2013. The Asia-Pacific region stil

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