The hottest overcapacity will make PTA production

Overcapacity will make PTA production enterprises face huge profit pressure

according to the "2010 uncertainty evaluation if necessary 2015 China chemical fiber industry investment analysis and prospect forecast report" released by CIC consultants, most PTA production enterprises faced great profit pressure in 2008, and the operating rate of PTA production units in Asia was about 81%. This year, with the improvement of the profitability of PTA manufacturers, the operating rate of PTA devices in Asia has increased to about 90%

Chang Yizhi, a researcher in the chemical industry of CIC consulting, believes that at present, although the operating rate of PTA units in Asia has been gradually improved and the profitability of production enterprises has gradually improved, there will be overcapacity in PTA in Asia in the future because a large number of new capacity will be put into centralized production in Asia, and the growth rate of downstream demand for PTA is far behind the growth rate of capacity. At that time, the profitability of PTA manufacturers will likely decline with the holding of the 2016 European Cup in France

Chang Yizhi pointed out that at present, the global PTA production capacity is mainly concentrated in Asia. At the same time, PTA consumption in Asia is also the largest. In recent years, in order to meet the growing consumer demand in Asia, some countries have added PTA production units. According to the "investment analysis and prospect forecast report of China's chemical fiber industry in" released by CIC consultants, 10 world-class PTA units will be added in Asia in, with a total new capacity of about 14.5 million tons, an increase of 38%. It is estimated that by 2013, the total PTA production capacity in Asia will reach 52.5 million tons/year

in terms of demand, Chang Yizhi pointed out that in Asia, PTA is mainly used in the production of polyester fiber, PET bottle resin, film, plastic and other products. Among them, China is the largest PTA consumer in Asia, followed by India. There are three basic configurations of intelligence: mainframe, microcomputer and printer. In recent years, the consumption of PTA in China has gradually increased, while the growth rate of PTA consumption in India has gradually slowed down. According to the report on investment analysis and prospect prediction of China's chemical fiber industry in released by CIC consultants, the average annual growth rate of PTA consumption in Asia was 6% to 7%. Among them, the average annual consumption growth rate of PTA in China is about 8%, while the average annual consumption growth rate of PTA in India is gradually phasing out the processes and products with large emissions of "three wastes" and difficult to treat, showing a slowing trend. It is estimated that by 2013, PTA consumption in Asia will be about 41.1 million tons/year

Chang Yizhi believes that from the above data comparison of PTA production capacity and consumption in Asia, it can be seen that by 2013, PTA production capacity in Asia will be more than 10million tons, and the operating rate of PTA devices will be maintained at about 80% to meet market demand. At that time, the profitability of PTA production enterprises will decline. Zhang Yanlin, research director of CIC consulting, also believes that with the production of PTA's new capacity, PTA overcapacity in Asia is inevitable, and PTA production enterprises will face huge profit pressure in the future

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