10 November 2011 04:00 [Source: ICIS news]
By Quintella Koh
SINGAPORE (ICIS)--India will have a huge supply deficit of purified terephthalic acid (PTA) and monoethylene glycol (MEG) in the long-term, with scant investments being poured into these sectors, set against the country’s rapidly growing consumption, an industry official said late on Wednesday.
The country’s PTA deficit will increase fivefold to approximately 1.67m tonnes by 2022 from 2009, while its MEG deficit will nearly triple to around 1.15m tonnes over the same period, said Mathew George, chief manager of Indian Oil’s petrochemicals export division, in an interview with ICIS.
In 2009, the PTA deficit was estimated at 330,000 tonnes and the MEG deficit pegged at 387,000 tonnes.
“There are significant opportunities for investment in the PTA and MEG industries as ?xml:namespace>
George said that by 2022, the country’s total PTA supply will only be at 3.6m tonnes in the absence of any new projects being announced, but the “country’s PTA demand will have ballooned to around 5.3m tonnes”.
This implies that
India’s growing appetite for fibre intermediates is fuelled by the country’s consumption boom, which, in turn, is driven by rising income levels, George said.
($1 = €0.74)
For more on PTA and MEG, visit ICIS chemical intelligence
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