16 Oct 2019
Posted in Oil & Gas
Hengli Petrochemical (Dalian) to lead global purified terephthalic acid capacity additions by 2023, says GlobalData
Hengli Petrochemical (Dalian) Co. Ltd. is expected to lead the global planned and announced purified terephthalic acid (PTA) capacity additions during the period 2019 to 2023, contributing around 22% of the global growth by 2023, according to 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 Hengli Petrochemical (Dalian) Co. Ltd. is expected to add a capacity of 5.00 million tonnes per annum (mtpa) from two planned projects by 2023.
Dayanand Kharade, Oil and Gas Analyst at GlobalData, says: “Hengli Petrochemical Dalian PTA Plant’ and an expansion project ‘Hengli Petrochemical Dalian PTA Plant Expansion’ will account for the company’s entire capacity additions, each with a capacity of 2.50 mtpa. They are expected to start operations by 2023.”
GlobalData identifies Fujian Billion Petrochemicals Co. Ltd. as the second highest capacity contributor among the global companies for planned and announced PTA capacity additions by 2023. ‘Fujian Billion Petrochemical Fujian PTA Plant’, will account for the company’s entire capacity additions by 2023. The project is expected to start operations in 2020, with a capacity of 2.50 mtpa.
ChengHong Holding Group Co. Ltd. stands third, contributing a capacity of 2.40 mtpa from an announced project by 2023.