Asia's para-xylene market supply gap large This report, the British PCI consulting company has said that this year, Asia's net imports of paraxylene (PX) will increase by 350,000 tons over the previous year, reaching 1.3 million tons, mainly due to pure benzene The increased capacity of formic acid (PTA) has exceeded PX's expanded capacity. PTA's capacity is expected to increase from 13.7 million tons last year to 19 million to 20 million tons in 2009. China will be the largest importer of PX, and the PX market gap in 2007 is expected to soar to 2.4 million tons. The company said that this year's PX exports from the United States are expected to increase to 1.7 million tons. U.S. PX manufacturers oscillated between the production of PX and the production of gasoline. After the production of 685,000 tons/year of Taiwan Formosa Chemical Fibre Co., Ltd. was started and put into production in 2006, Taiwan's PX imports in 2007 will decline to 1.3 million tons. After the start of the new Iranian PX plant, its PX exports to the Asian market are expected to reach 800,000 tons in 2007. Iran’s two new PX plants with a total capacity of 1.1 million tons/year will be put into operation next year, so the operating rate of PX plants will remain at 89% in the next three years. Since the construction period of the new PX device needs at least 3 to 4 years, it is difficult to predict the supply and demand of PX more accurately for several years. The next round of cyclical investment is expected to be carried out by companies that can obtain important raw materials such as naphtha or reformed xylene.
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