09 Oct 2019
Posted in Oil & Gas
China to lead global purified terephthalic acid capacity additions by 2023, says GlobalData
China is set to drive the global purified terephthalic acid (PTA) industry capacity growth from planned and announced projects between 2019 and 2023, contributing around 61% of the global growth during the period, says GlobalData, a leading data and analytics company.
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’, reveals that 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 the country.
Dayanand Kharade, Oil and Gas Analyst at GlobalData, says: “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.”
GlobalData identified India as the second highest country in terms of capacity additions in the global PTA industry. The country 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 Paradip PTA Plant’ and ‘Indian Oil Corporation Panipat PTA Plant’, which is expected to start operations by 2023.
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 an announced project ‘Pan-Asia PET Resin Jazan PTA Plant’.