Industry sources said last week that due to the lack of investment and the rapid growth of consumption, India will face serious shortage of refined terephthalic acid and ethylene glycol for a long period of time.
According to Matthew George, head of the export department of petrochemical products at the Indian Petroleum Corporation (IOC), the supply gap for refined terephthalic acid in India will increase fivefold from 2009 to 2022 to approximately 1.67 million tons per year; It increased nearly threefold and rose to about 1.15 million tons per year. In 2009, the supply gap for refined terephthalic acid in India was about 330,000 tons, and the gap for ethylene glycol was 387,000 tons. George said that with the rapid economic growth in India, the growing population of the middle class in the country, India's fiber demand will increase significantly, so the investment potential of terephthalic acid and ethylene glycol is huge.
In 2009, India's domestic supply of terephthalic acid was approximately 2.8 million tons, while demand was 11% higher to 3.1 million tons; by 2022, due to the lack of new projects, India's domestic terephthalic acid supply capacity is expected to Only 3.6 million tons, but the demand will surge to about 5.3 million tons. Ethylene glycol, India's domestic capacity in 2009 is 800,000 tons, and the demand is about 1.2 million tons; by 2022, the ethylene glycol capacity will reach 1.1 million tons, and the demand will exceed 2 million tons.
George said this means that India will have enough space to accommodate at least two sets of world-class fiber intermediate devices to meet demand. The domestic demand for fiber intermediate products in India is being stimulated by the country’s consumption growth.
Between 1995 and 1996, only 8 million families in India reached the standard of the middle class (monthly income of 1,500 to 3,000 US dollars). However, by 2014-2015, the number of middle-class families in India will increase to 29 million.
According to Matthew George, head of the export department of petrochemical products at the Indian Petroleum Corporation (IOC), the supply gap for refined terephthalic acid in India will increase fivefold from 2009 to 2022 to approximately 1.67 million tons per year; It increased nearly threefold and rose to about 1.15 million tons per year. In 2009, the supply gap for refined terephthalic acid in India was about 330,000 tons, and the gap for ethylene glycol was 387,000 tons. George said that with the rapid economic growth in India, the growing population of the middle class in the country, India's fiber demand will increase significantly, so the investment potential of terephthalic acid and ethylene glycol is huge.
In 2009, India's domestic supply of terephthalic acid was approximately 2.8 million tons, while demand was 11% higher to 3.1 million tons; by 2022, due to the lack of new projects, India's domestic terephthalic acid supply capacity is expected to Only 3.6 million tons, but the demand will surge to about 5.3 million tons. Ethylene glycol, India's domestic capacity in 2009 is 800,000 tons, and the demand is about 1.2 million tons; by 2022, the ethylene glycol capacity will reach 1.1 million tons, and the demand will exceed 2 million tons.
George said this means that India will have enough space to accommodate at least two sets of world-class fiber intermediate devices to meet demand. The domestic demand for fiber intermediate products in India is being stimulated by the country’s consumption growth.
Between 1995 and 1996, only 8 million families in India reached the standard of the middle class (monthly income of 1,500 to 3,000 US dollars). However, by 2014-2015, the number of middle-class families in India will increase to 29 million.
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