Business

Asia To Lead The Global PTA Capacity Additions By 2026

Within Asia, China leads with the largest capacity additions. Global purified terephthalic acid (PTA) capacity is poised to see considerable growth over the next five years, potentially increasing from 103.59 million tonnes per annum (mtpa) in 2021 to 140.37 mtpa in 2026 at an AAGR of 6.1%. GlobalData’s latest report, ‘Global Purified Terephthalic Acid (PTA) Industry Outlook to 2026 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants’ states that for the upcoming new build projects, Asia is expected to add a capacity of 28.0 mtpa from 14 planned and announced projects. Whereas for the expansion projects, the region is expected to add a capacity of 0.15 mtpa from one planned project. China’s PTA capacity expansion Within Asia, China leads with the largest capacity additions, with a capacity of 19.40 mtpa from nine planned and announced projects. The country is expected to spend a capital expenditure (capex) of US$ 11.29 billion. Major capacity additions will be from Sinopec Oilfield Service Corporation Yizheng PTA Plant 3, Brunei Hengyi Industries Pulau Muara Besar PTA Plant, Dongying Weilian Chemical Dongying PTA Plant, Hengli Petrochemical Huizhou PTA Plant 1, Hengli Petrochemical Huizhou PTA Plant 2, Jiangsu Jiatong Energy Nantong City PTA Plant 1, and Jiangsu Jiatong Energy Nantong City PTA Plant 2. PTA capex in Middle East The Middle East follows next and, for the new build projects, the region is expected to add a capacity of 6.50 mtpa from five planned projects. There are no expansion projects in the region. In the Middle East, Turkey is expected to contribute approximately 4.00 mtpa from three planned and announced projects. The major capacity contribution will be from two planned projects, namely the Sasa Polyester Sanayi Adana PTA Plant, and the Sasa Polyester Sanayi Yumurtalik PTA Plant 1, that are expected to come online in 2023.