SINGAPORE (ICIS)--Several huge new PTA (purified terephthalic acid) plants are to start up in 2020.According to the ICIS supply and demand database,the growth rate of effective PTA capacity in China will be as high as 17% this year.And the expansions will still be rapid over the next two years,which is similar to the past if we look back into China’s PTA history.What is the difference compared with the last expansion cycle? Actually,China’s last PTA expansion cycle was focused on scale advantage and a higher concentration ratio of capacity while the new expansion cycle will be supported by refining and chemicals integration.Moreover,we expect a new competition pattern for China’s PTA industry to emerge.
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