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China’s PTA market after recent capacity ramp-up: evolving into an oligopoly market
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Report summary
Investment in the PTA market has been gathering momentum after a tightly balanced 2019. In 2020-2026, the world is going to add a stunning 49.4 Mtpa capacity. 87% of new assets will be in China, exerting downward pressure on margins and operating rates. This wave of investment is going to change the landscape of China’s PTA market forever. We will see the rise of some leading PTA producers who are major investors in the next five years. While consolidating their market positions, major producers are shaping a new PTA market. Armed with financial tools, these oligarchies know how to achieve their financial targets and survive the pro-longed low-margin period following the capacity ramp-up.
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