Chemical Market Associates, Inc. (CMAI), acquired byIHS Inc.announces the completion of the 2012 World Terephthalates and Polyester Analysis. The annual global market study covers historical developments and future projections for supply, demand, capacity, and trade in the global terephthalic acid (TPA, or PTA in its purified form), dimethyl terephthalate (DMT), polyethylene terephthalate (commonly referred to as PET or polyester) fiber, and PET packaging resin markets for the period 2006 to 2016.
domestic consumer demand in China,
combined with a global cotton shortage, resulted in historically strong global
demand growth for polyester fiber in 2010, which continued into early 2011. The
cotton shortage, a slowdown in terephthalic acid (PTA) capacity growth, and
production outages in PTA and upstream paraxylene (PX), have resulted in a very
tight PTA market.
PTA, global demand for PET packaging resin was subpar in 2010, with less than
one million metric tons of growth expected in 2011. The continued light
weighting of bottles and other PET packaging, for both economics and an
improved environmental footprint, coupled with increased use of recycled
material, have been the main culprits behind the poor demand growth.
PTA, PET packaging resin will see a prolonged period where capacity growth
exceeds demand growth and operating rates decline. Unlike PTA, this has been
the norm for PET packaging resin. However, since PET packaging resin plants can
be built in two years or less, few announcements for new plant construction are
made beyond three year periods.
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