Global and Indian Paraxylene Market Outlook, 2017
Global and Indian Paraxylene Market Outlook, 2017
The demand for PET determines demand for PTA and PX. PET is the only PTA product, with high growth prospects
RELEASE DATE
02-Jan-2018
02-Jan-2018
REGION
South Asia, Middle East & North Africa
South Asia, Middle East & North Africa
Research Code: 9AB4-00-1D-00-00
SKU: CM01518-SA-MR_21391
$1,500.00
In stock
SKU
CM01518-SA-MR_21391
Description
Urbanization, higher disposable income and other changes in consumer lifestyle, especially in the Asian markets, is driving the demand for various polymers including PET. With Paraxylene being the basic feedstock, there has been a considerable change in that market as well. This Industry Docket evaluates the market for PET, PTA and its impact on the PX market. This docket aims to provide senior management, CEOs and other critical decision-makers an overview of the global and domestic market for the polyester value-chain as a starting point for executing various investment and market-related decisions.
Table of Contents
Scope & Limitations
India is one of the fastest growing economies, with the processed food segment witnessing double digit growth
Packaging Market is expected to grow at 15%, majorly driven by growth in packaged foods and beverages
While ‘polyester’ is generally used for textile applications, PET corresponds mainly to bottling or films. PX is the key Precursor for PET
Global Demand for PX is a direct reflection of the demand for PET and is concentrated in Asia, especially China
Almost 99% of PX is used in the manufacture of polyester/ PET through PTA or DMT
With increasing demand for packaging, global PX demand is expected to grow at 5.8% till 2030, driven by growth in Asia
India will be dependent on imports from Middle East and Northeast Asia in the medium to long term
PTA is the only application of PX; its production will impact PX demand. China to remain main hub of PTA production
Due to high demand, China to remain net importer of PTA. NEA, NA and SEA to be key exporting regions
The demand for PET determines the demand for PTA and PX. PET is the only product of PTA, with high growth prospects
India, NEA and China to be net exporters of PET with N America and Europe being large, net importers.
PX is produced in India by three companies. Imports that played a key role are expected to reduce going forward
RIL is the biggest PX manufacturer and is the only Indian company totally integrated for PTA and PET
IOCL has plans for a PX-PTA capacity in Orissa; RIL recently increased its capacity to about 4.2 MMTPA
Most PX is consumed captively. However, MCC PTA totally dependent on imports for supply; JBF has a long term contract with OMPL
With limited merchant sales in India, consumers prefer to enter into long term agreements to ensure secure supplies
India to see 4,000-5,000 KTPA of additional PTA capacity in 4-5 years, which will drive the demand for PX
PX will not be substituted, even in the long term, as it is a key raw material for current PTA production technologies
The high demand for PET/ polyester is the key driver for PX investments in India
While PX demand is to grow at about 7.7%, lack of raw materials will limit production growth to only 7.4%
India is a net importer of PTA and is expected to become self-sufficient
India’s demand for PET to be driven by packaging application, with sufficient PET production in local market supported by PTA capacity
Steady demand growth for paraxylene in India presents an opportunity for about 1,000 KT of additional capacity by 2030 (1/2)
Imports from global suppliers, especially from the Middle East could be a threat in the medium to long terms (2/2)
Asia will be the key growth driver for PX demand due to increased PET demand
India will see high demand growth, while raw material shortage will limit supply growth
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Urbanization, higher disposable income and other changes in consumer lifestyle, especially in the Asian markets, is driving the demand for various polymers including PET. With Paraxylene being the basic feedstock, there has been a considerable change in that market as well. This Industry Docket evaluates the market for PET, PTA and its impact on the PX market. This docket aims to provide senior management, CEOs and other critical decision-makers an overview of the global and domestic market for the polyester value-chain as a starting point for executing various investment and market-related decisions.
No Index | No |
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Podcast | No |
Author | David Elango Anil Kumar |
Industries | Chemicals and Materials |
WIP Number | 9AB4-00-1D-00-00 |
Is Prebook | No |