China plans to add 9 million tons of new PTA production capacity in 2012. This will be followed up by addition of another 7.3 million tons of capacity in 2013.
The addition of new capacities will lead to reduction of operating rate. It is estimated that there would be adequate supply of PTA, even if the operating efficiency declines from the present 95 percent to 80 percent.
With the addition of new capacities, China's PTA industry will steadily enter a new phase where its production would be more dependent on two parameters – the availability of upstream PX supply and the demand for PTA from downstream PET.
Fibre2fashion News Desk - China
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