12 October 2011 16:30 [Source: ICIS news]
Gdansk (ICIS)--PKN Orlen is counting on European demand for purified terephthalic acid (PTA) growing by at least 3-5% annually in the years up to 2016, with growth in polyethylene terephthalate (PET) bottle production largely driving the trend, the Polish group’s executive director for investment said on Wednesday.
In a presentation to the World Refining Association’s (WRA’s) Central & Eastern European Refining and Petrochemicals 14th Annual Meeting, in Sopot near Gdansk, ?xml:namespace>
“This product chain extension at Orlen increases our value added in a radical way by enabling us to target the dynamically rising market for granulate PET,” Pawlucki said, reminding delegates that Orlen was also examining the option of constructing its own PET plant.
Not one batch of product from Orlen’s 600,000 tonne/year PTA plant in
Costing around €1bn ($1.4bn), the PTA and PX plants made up the second biggest capital expenditure project in Poland during 2000 to 2010.
The launch was long-awaited by PET producers who were suffering from a tight PTA market.
Global Service International’s ninth annual PET Day in
“Our PTA plant, backed by the PX, is the most efficient, most modern in Europe and the first in the CEE [central and eastern Europe] region, and Orlen can now say it is the [joint] third largest PTA producer in
The biggest European producer of PTA remains BP Chembel in
PET bottle production accounted for 82% of purchased PTA in
In Asia, meanwhile, 42% of PTA went into PET fibres and epoxides, compared with only 14% in
Global PTA consumption stands at 38m tonnes/year compared with global production capacity of 43m tonnes/year, according to Orlen.
The figures for PX were 30m tonnes/year and 32m tonnes/year, respectively, it added.
Looking a few years ahead, Orlen sees global consumption of PTA increasing at 5-6% a year and global consumption of PX rising at 6-7% a year.
($1 = €0.73)
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