Long term oversupply of global PX will ease
said on May 6.
an analyst said that the large-scale PX capacity growth has exceeded the demand growth, resulting in a huge surplus, which may take several years to digest.
andin 2014, the new capacity of PX reached nearly 6 million tons, and it is expected to increase similar capacity in 2015.
andhowever, with PX demand growing at 2 million tons / year, if the capacity growth slows down, the market may eventually be balanced.
andeven if China's economic growth slows down, the huge rigid demand in this region can still absorb the surplus supply in the region.
andare growing at the highest speed with PET / > pet resin. It is estimated that the demand for downstream polyester (film, fiber and PET resin) will increase by 4-6% by 2020.
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