Allegedly, the global packaging market is expected to reach 820 billion in 2016 dollars . Octal expects in 2015 and in 2016 a further amplification capability. Once the expansion is complete, the production base will produce a total of 2.5 million tons / year of polyester PET and purified terephthalic acid (PTA). Recalling 2013 , Octal company started from January 2013 , will make monthly exports generated $ 100 million , accounting for about 2% of GDP in Oman . Its customers include thermoforming and retailers such as Wal-Mart, Coca-Cola, Nestle , Unilever, Procter & Gamble and Almarai.
In addition , it is learned , a long time ago there reported: Oman Oil Company and South Korea's LG International Corporation has also been signed in 2013 after an agreement , the two sides will cooperate in the development of the previously announced production of a new port in阿曼索哈尔purified terephthalic acid (PTA) and polyethylene terephthalate (PET) is a world-class facility . Oman Oil Company will hold a 70% interest in the joint venture , LG will hold the remaining 30 % interest . The two sides will invest $ 850 million . The project is designed annual production capacity of 1.1 million tons and 500,000 tons PTA PET, is expected to put into operation in the end of 2016 . The plant will use the Oman oil refinery and petroleum industries in Sohar refinery near the production of paraxylene feedstock. The U.S. M & G Group and China Petrochemical Engineering Construction Company also already signed an engineering, procurement and construction contract , the contractor China Petrochemical Engineering Construction American M & G PET in Corpus Christi , Texas / PTA project . The contract is worth approximately $ 1 billion , will be completed one million tons / year PET plant construction and 1.2 million tons / year PTA plant within 36 months. M & G Group is headquartered in Tortona, Italy , a leading American PET resin manufacturers , its total production capacity of PET resin, 1.6 million tons / year. The project is expected to go into production operations in 2016 . There Jacobs (Jacobs) engineering company contracted KP Chemical Korea 's Lotte Chemical UK company a contract , and for the building in the UK Wilton polyethylene terephthalate (PET) resin plant to provide construction management services. The installed capacity of 200,000 tons / year PET, the project has been put into operation at the end of 2013 . Existing production base construction of the device is Lotte , the production base has existing production capacity of 500,000 tons / year of purified terephthalic acid (PTA), 15 tons / year of PET. Provided by the Wood By Wendafeise technology companies, foundation engineering, key equipment items , as well as construction supervision and commissioning .
Polyester PET production profits under serious threat
Because since the fourth quarter of 2013 , the global market supply increased PET polyester steady flow , resulting in more intense competition in the industry , in order to control a serious oversupply of PET polyester phenomenon quickly generate expected 2014 global polyester PET device the loading rate is maintained at 60 to 70% . Currently, a number of Asian manufacturers of polyester PET , said polyester PET industry in Asia in 2014 and 2013 will be as likely to remain weak profits or even losses . Especially polyester project is constantly expanding and car production, let polyester products worldwide circulation numbers are constantly increasing threat to the industry's production profits .
From a global perspective , in 2014 there will be a number of projects come on stream . PET producers EIPET Egypt has announced that its new area located埃因苏赫纳225,000 tons / year production line officially put into operation. Turkey Ko Ksan two 216,000 t / year PET production line is also the first car in early November last year , according to plan in 2014 was 90% of the minimum load capacity . British Lotte Teeside regions New 200,000 tons / year of polyester PET also is accelerating the construction of the plant is expected to be completed in the first quarter 2014 . Two production company Petroquimica Suape , Brazil Pernambuco region can 230,000 tons / year of new polyester PET production line will also be the end of January 2014 into commercial production. Saudi Basic Industries Corporation (SABIC) will also be located at the beginning of this year to its new 420,000 tons Yanbu / year PET device that originally commissioned in the fourth quarter of last year , due to the progress of the issue was postponed . The current global market supply PET polyester already overcapacity, while the country was bored manufacturers continue to expand production capacity, will eventually lead to weaker polyester PET market demand, high inventories , prices and profitability weakened. Rumors, there is a Korean manufacturer said that based on the current global polyester PET market supply conditions, in 2014 the Asian manufacturers will continue working hard and making PET , the same as in 2013 , in 2014 it will not be easy. South Korean manufacturer said that South Korea is Europe's largest source of imports of polyester PET . Europe and the Middle East, a lot of new PET resin production capacity , will pose a threat to the South Korean manufacturer . In addition, some Korean manufacturers from January 2014 to abolish import duties on the European origin of the goods in India also expressed concern that , because it would directly compete with Korean sources.
China has become the world's largest PET bottle-grade polyester chips producer in 2014 with an annual capacity will reach 9,000,000 tons or more levels. Oversupply situation will continue in 2014 , or will result in lower prices PET polyester . According to market sources , China Yi Sheng Hainan Petrochemical Company in September 2013 with a new cast of a 500,000 t / y PET production line , another 500,000 tons / year PET production line also plans recently to drive. But because business is tepid, the market for the company's new revenue-generating device sustainability skeptical. However, there are a Chinese manufacturer said that the macroeconomic situation improved or downstream users will boost consumer confidence.Sellotape
It is predicted that the U.S. and Japanese economies in 2014 will be better, will help to improve the downstream industry buying interest . According to market analysts, the PET resin demand growth in 2014 may be less than 5% , while the global bottle grade PET chips production capacity will increase by more than 15%. 2014 bottle grade PET chips global production capacity to about 29 million tons , while demand is estimated that only 20 million tons . It is worth mentioning that after the 2014 Spring Festival , polyester PET prices on world markets or in the constantly changing , such as the Asian regional spot market transactions scarce , the downstream demand will be a certain replenishment , the seller refused to substantially lower offer . In particular fiber grade polyester chips produced many factories have not fully recovered , limited fiber grade chips market talk , while PET bottle chip market is usually the peak season from March to cope with exports to Europe and other places , so the seller also needs careful depress prices. Bottle grade chip prices in Asia relative chaos , individual regions such as South Korea manufacturers generally offer in 1320 U.S. dollars / ton, but then fell to $ 1,300 / tonne FOB Korea . However, the prevalence bid at $ 1,300 / ton, while the intention is too large spreads between buyers and sellers have resulted in turnover elusive. Southeast Asian markets have lower spot prices , thereby limiting the market to discuss this week . Manufacturers offer about $ 1,400 / ton down FOB, but end users and traders insist reject deal at this price .Washi tape
It is reported that India also showed weak market prices , I heard recently there are individual to the Middle East / Africa exports turnover achieved in the $ 1,350 / tonne FOB India, but the specific message has not been confirmed. Chinese mainland market price of the recent $ 10 / t decline phenomena, such as Taiwan, the spot transaction is generally completed within the estimated range . There are film grade chips market in Asia appears to have more complex, such as Southeast Asia, film grade chips offer centralized at $ 1370-1380 / t FOB East Asia , but no firm turnover ; Korean market quotation appears in $ 1,330 / tonne FOB East Asia . Downstream demand continues to slump , and the excess supply is still a major problem in Southeast Asia market fundamentals. Review February 12 , the price of polyester PET Asian markets dropped $ 1,290 / ton (FOB Northeast Asia ) and $ 1,325 / ton (FOB Southeast Asia ) , only slightly higher than the low end of January , when $ 1,285 / ton (FOB northeast Asia ) and $ 1,320 / ton (FOB Southeast Asia ) , is lower than at any other time since July 2012 . There polyester PET market in Europe is very complex, real trading scarce now , I heard that the price of PET bottle grade steady Russian regions , because the intention of encounter before the price increases and ultimately failed to achieve the buyer boycott , SIBUR Company maintains quoted in 65,000 rubles / ton. ( Russian domestic prices include 18% VAT . Well as the Middle East market some of the Gulf Cooperation Council (GCC) region is expected that with the advent of summer, traders season , in March 2014 the demand will improve , but traders also volatility in raw material prices , unless said otherwise , polyester PET spot prices is likely to remain stable , which is mainly due to excess supply in the market in Asia and the Middle East caused . rEVIEW February 12 , the spot price for PET polyester Europe 1110-1115 euros / ton ( 1518-1524 U.S. dollars / ton , FD NWE ) , which is the lowest since September 2010 .Masking tape
The industry believes that , due to the pressure on raw material prices and import prices will decline further. Pressure because of low prices in Asia and the euro / dollar exchange rate is high. Recently, a new device for non-EU European region is also expected to meet the demand in Europe . EIPET a joint venture in India Dhlenseri petrochemical and tea companies accounted for 70 % of the shares , the Egyptian Petrochemicals Holding Company (ECHEM) and the Egyptian oil and process engineering companies accounted for 23% and 7 % of the shares . EIPET in Egypt sukhnah springs have a 420,000 tons / year plant , the joint venture plans to service in North Africa , North America and Europe users. Plant put into operation postponed several times , especially in view of the political situation in Egypt. But late last year the company who said that the device will be in ( 2013 ) or ( 2014 ) January production by the end of December . This device has two production lines , each production line is 210,000 tons / year, the company who said that a set of device has been put into operation in January , but it is unclear exactly when the second set of equipment put into operation .Wholesale masking tape
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