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PRC to lead global PTA capacity additions by 2023: report

Oct '19
PRC to lead global PTA capacity additions by 2023: report
China will drive the global purified terephthalic acid (PTA) industry capacity growth from planned and announced projects from 2019 to 2023, contributing around three-fifths of the growth, according to data and analytics company GlobalData. China is expected to have a planned and announced PTA capacity of 14.20 million tonnes per annum (mtpa) by 2023.

Planned projects account for most of the capacity additions in China. The company’s report, ‘Global Purified Terephthalic Acid (PTA) Industry Outlook to 2023–Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’, identified India as the second highest country in terms of capacity additions in the global PTA industry.

India will add a capacity of 2.60 mtpa from three announced projects, Materials Chemicals and Performance Intermediaries (MCPI) Haldia PTA plant 3, Indian Oil Corporation (IOC) Paradip PTA plant and IOC Panipat PTA plant, which is expected to start operations by 2023.

“China is expected to add eight planned and announced projects during the outlook period. Among these, ‘Fujian Billion Petrochemical Fujian PTA Plant’, ‘Hengli Petrochemical Dalian PTA Plant’ and an expansion project ‘Hengli Petrochemical Dalian Purified Terephthalic Acid (PTA) Plant Expansion’ are the largest projects, each with a capacity of 2.50 mtpa,” a GlobalData press release quoted Dayanand Kharade, oil and gas analyst at the UK-headquartered company, as saying.

Both Turkey and Saudi Arabia occupy third position with planned and announced PTA capacity of 1.25 mtpa each by 2023. The entire capacity addition for Turkey will be from an announced project, SOCAR Turkey Enerji Aliaga PTA plant, whereas for Saudi Arabia, the entire capacity growth will be from the announced project, Pan-Asia PET Resin Jazan PTA plant.

Fibre2Fashion News Desk (DS)

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