The latest report by GlobalData, a leading analytics and data company, reveals that the total PET capacity of new-build and expansion projects in Asia is expected to be 5.21m tonnes per annum (mtpa) by 2027.
The report, ‘Polyethylene Terephthalate (PET) Industry Installed Capacity and Capital Expenditure (CapEx) Forecasts by Region and Countries including details of All Active Plants, Planned and Announced Projects, 2023-2027’, asserts that this will be achieved by gaining capacities from new-build and expansion projects between 2023 and 2027.
Go deeper with GlobalData
Additionally, increased plastic usage in end-use industry segments such as food and beverages, FMCG and pharmaceuticals are also key factors for PET industry growth in Asia, which is forecasted to have a 61.8% share of the industry by 2027.
What are the new-build construction projects in the region?
GlobalData Oil and Gas analyst Nivedita Roy comments: “For upcoming new-build projects, the region is expected to add a capacity of 5.13 mtpa from six planned and announced projects. Whereas, for the expansion of the existing PET projects, the region is expected to add a capacity of 0.08 mtpa from two announced and planned projects.”
China and India are the key countries in Asia in terms of PET capacity additions. The main capacity addition in China will be from an announced project, Zhejiang Petrochemical Daishan Polyethylene Terephthalate Plant 2, with a capacity of 2 mtpa. It is expected to commence production of PET in 2026.
Nivedita concludes: “In India, the main capacity will be from Reliance Industries Dahej Polyethylene Terephthalate Plant 2, with a capacity of 1 mtpa. It is expected to come online in 2026.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataGlobalData analysis recently found India to be a leader in polyvinyl chloride capacity additions in Asia by 2027.
The push for PET materials is a global effort, with PET packaging making up one-quarter of consumer packaging (bottles and trays) in Europe. Western countries will be looking to Asia to supply this demand in the coming years.
