Asia Will Account For 72% Of The World'S PTA Growth By 2023.

According to the November 14th news of hydrocarbon processing, GlobalData reported that the planned and announced projects in Asia will contribute about 72% share of global PTA production over the next 2019-2023 years.

The report "global PTA industry outlook to 2023 - capacity and capital expenditure projections, including detailed instructions for all built and proposed plants" shows that Asia's new and expanded PTA capacity will be increased from 11 planned and announced projects to 16 million 800 thousand tons / year. 6 of them are planned projects and the rest are announced projects.

SowmyaSivaji, an oil and gas analyst at GlobalData, said: "in Asia, the growth of PTA capacity will mainly come from China, which accounts for about 85% of China's capacity. The planned projects account for most of China's new capacity. "

GlobalData sees the Middle East as the second largest area of capacity growth in the global PTA industry. The region will add 3 million 600 thousand tons / year capacity from 3 announced projects. All the new capacity will be announced in the future, Pan Asia PET resin JazanPTA plant, SOCAR Turkey EnerjiAliagaPTA plant and OMPETSoharPTA factory, and is expected to be put into operation in 2023.

North America ranked third. By 2023, the newly built PTA capacity will be 1 million 200 thousand tons / year. The whole capacity increase will come from a planned project, M&G polymer PTA plant in Corpus Christi, USA.