The Chinese government had recently announced the 12th five-year plan for the textile and clothing industry; which has targeted an annual growth rate of 8 percent for the sector as a whole.
China's PTA consumption is expected to achieve an 8 percent annual growth in the next three year, which means, by 2013, the textile sector will consume 26.3 million tons / year of PTA.
This volume would account for 64 percent of the PTA consumption in Asia. In the same period, Asian PTA consumption is estimated at 41.1 million tons. China is the world's leading importer of PTA. 33 percent of PTA consumption, depended on imports in 2009.
But with the increase in new PTA capacities in the next few years, China's reliance on imports is forecast to steadily decline and is expected to be less than 25 percent in 2013.
marketing@alchempro.com
