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(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.
For MEG, India’s domestic production totalled 800,000 tonnes, while
demand was at around 1.2m tonnes. “By 2022, India’s total MEG supply will only
reach 1.1m tonnes, while its demand will have increased to a little over 2m
tonnes,” George said.
Perspectives of development of polymer markets, pricing issues and other
important aspects will be discussed at The Polymers
Summit-2011, which will be held in Moscow on November 30, 2011 at the
Ritz Carlton Hotel. The Summit will be organized by MRC with the support of
ICIS. The main idea of the Summit is to find a "the golden mean" between
producers and converters. When producers receive exactly such margin of
production, which helps them to invest in production expansion in order to
substitute polymers imports, and the converters receive such price of feedstock
that helps them to compete imported finished products. The Summit site gives an
access to the live video of the Summit, speakers" presentations, as well as
opportunities to ask questions or make appointments to any Summit
partcipant.
mrcplast.com
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