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| New Project global overcapacity PET |
| Writer£ºAdmin | Add Time £º2009/9/7 |
Triggered by a fight for market consequences of the excessive expansion has finally emerged. This year, along with a group of polyethylene terephthalate (PET) capacity expansion project put into operation one after another, global PET market has excess capacity, market prices continued to slide, the situation, while some of the projects nearing completion in the near future PET is more to the market even worse. Analysts pointed out that in such a tough market situation, engineering innovation is the PET producers to remain competitive the key.
According to CMAI statistics, Asian PET production capacity has increased to about 7.4 million tons / year, while demand in Asia is only 3.3 million tons / year. CMAI, said the excess 4.1 million tons / year PET production capacity is sufficient in Europe, the Middle East and Africa does not enable any capacity circumstances, all of these areas to meet the market demand.
This year early in June, Wellman started the factory in the United States Mississippi PearlRiver third PET production lines. The new PET production lines will increase by 300 million pounds / year capacity, so that PET plant total production capacity of about 860 million pounds / year, Wellman total PET production capacity of about 1.6 billion pounds / year; Lithuania Neo Group has recently launched a capacity of 154,000 tons / year PET plant.
With a large number of PET production capacity on stream, PET market prices getting lower and lower. PET resin, the United States in April this year, the benchmark contract price is about 73 cents / lb more than in October last year, has lost about 28 cents / lb. In June of this year, due to the attitude of the buyer reluctance, PET price increases 3 ~ 10 cents / pound proposal, only the implementation of the 3 cents / lb.
In such a tough market situation, the near future there will be a number of new and expansion projects put into production. M & G Group is located in Brazil Per Juan nambuco new PET plant will be commissioned later this year, the plant capacity of 990 million pounds / year, with production capacity will enable Brazil to become PET-exporting countries; DAKAmericas the fourth quarter of this year its plans in the United States, North Carolina Wilmington plant to expand PET production capacity 450 million pounds / year to reach about 1.1 billion pounds / year.
Eastern Europe has also joined the round PET expansion boom. The Russian manufacturer Polyef end of the year to start a program capacity of 120,000 tons / year of new PET plant; Romania's Rompetrol Petrochemicals are planning to put into production by the end of a capacity of 120,000 tons / year PET plant.
By mid-2007, North American PET capacity will increase more than 30 million pounds, an increase of about 21%. Although the United States the demand for PET will be 7% to 8% annual rate of growth, but DAKAmericas, Eastman, INVISTA, Starpet and Wellman are expanding production capacity, or the resumption of production, so the North American market is also becoming increasingly saturated.
An institution believes that the severe market conditions and also makes Asian PET production capacity rationalization re-emerged in the medium term. In June of this year, Asia had two PET plant closures. Hualon closed in Malaysia NegriSem Juan bilan of the PET plant, because of rising raw material costs, profits shrink; Korean chemical fiber because of low profits, is closing in South Korea Ulsan a capacity of 400 tons / day of the PET plant.
Analysts pointed out that if PET producers want to remain competitive, innovation is the key, in providing a comprehensive solution and a package of agreements at the same time, manufacturers need to carry out engineering innovations. Eastman Chemical will be put into production in the second half of this year's new IntegRex plant, the use of IntegRex patented technology can be directly converted into PET resin, will be p-xylene, the project's investment costs by nearly half. More importantly, IntegRex technology also makes PET resin processing costs can be reduced by 50%. Technological innovation of these projects will make Eastman Chemical's PET resin in the harsh market environment to maintain its competitive edge. |
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