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India to face supply deficit of PTA and MEG in the long-term

November 10/2011

(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 countrys rapidly growing consumption, an industry official said late on Wednesday.

The countrys 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 Oils 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, Indias domestic production totalled 800,000 tonnes, while demand was at around 1.2m tonnes. By 2022, Indias 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.

Tags:MEG, terephthalic acid.
Category:General News
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