15 November 2005 17:25 [Source: ICIS news]
COLOGNE, Germany (ICISnews)--The European paraxylene (PX) industry is fundamentally sound as it enjoys the backing of solid demand from the polyester chain, an industry consultant said on Tuesday.
Speaking at the fourth European Aromatics and Derivatives Conference Philip J Marshall from PIC Xylenes and Polyesters Ltd said world population and economic growth will sustain annual demand growth of over 5% for polyester fibres.
At the sametime, PET bottles and packaging continue to displace glass, metal and other polymers based products on cost and performance advantages
In 2002, polyester demand was at 19 million tonnes per year and is forecast to reach 33.5 million tonnes per year by 2010, he said.
PET was expected to fuel the growth of PX and Europe will remain a net importer until 2008 when new expansions come on stream. Among those expected were the Petrochemicals Holding and Interquisa joint venture to a 600,000-tonne plant.
PKN Orlen had said it will build 400,000 tonnes of PX to support the production of 600,000 tonnes of PTA using Mitsubishi technology. Polief in Russia was heard ready to start up with 230,000 tonnes but this was not confirmed.
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