26 November 2009 11:45 [Source: ICIS news]
AMSTERDAM (ICIS news)--New paraxylene (PX) capacities in Asia and the Middle East will put significant pressure on European suppliers in 2010, said Rajen Udeshi, president of the polyester chain at Indian chemical giant Reliance Industries, on Thursday.
Speaking at the 8th European Aromatics & Derivatives Conference in ?xml:namespace>
He added that inefficient PX capacities working from a toluene or mixed xylenes (MX) base would have difficulties surviving. Udeshi also cited the example of European plants that were dependent on MX coming from the
Reliance Industries had been able to capitalise on the strength of its integration, something that Udeshi saw as a tool for ensuring its own economics. However, he added that domestic demand would still be the key driver for future investment.
Within countries such as
It was this domestic demand, fuelled by a young population and a growing consumer class, that would help countries such as
With the sector seeing some regained confidence and the new phase of expansion in both Asia and the
“It is a fact of life that demand for polyester is coming from countries such as
Although downstream purified terepthalic acid (PTA) demand in
Despite the focus on domestic trade and demand, Udeshi pointed out that Reliance Industries, responsible for 3% of
The 8th European Aromatics & Derivatives Conference, jointly organised by ICIS and International e-Chem, takes place from Wednesday 25 November to Thursday 26 November 2009.
($1 = 0.67)
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