GlobalData: Asia to lead global PET capacity additions by 2027
Asia is set to lead the global PET industry capacity additions with a share of 61.8% by 2027, by gaining capacities from new-build and expansion projects between 2023 and 2027, according to GlobalData, a leading data and analytics company.
GlobalData’s latest 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’ reveals that the total PET capacity of new-build and expansion projects in Asia is expected to be 5.21 million t/a (mtpa) by 2027. Increased usage of plastic in end use industry segments such as food and beverages, FMCG and pharmaceuticals are the key factors for PET industry growth in Asia.
Nivedita Roy, Oil and Gas Analyst at GlobalData, comments: “For the 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.”
