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Middle East and Asia to lead global new PET capacity additions over the next 5 years

 Last Update: 2022-08-24
 Source: Internet
 Author: User

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According to the TABNI website, Dubai, September 17, 2020, the global annual production capacity of polyethylene terephthalate (PET) will continue to grow in the next five years, possibly from 30.
47 million tons in 2019 to 2024.
35.
28 million tons, a total growth rate of 16%

Among the regions, the Middle East will lead the global increase in new PET capacity over the next five years, with its annual PET capacity expected to increase from 3.
52 million tons in 2019 to 4.
95 million tons in 2024, with an average annual growth rate (AAGR) of 6.
8%

In Asia, annual PET production capacity is expected to increase from 15.
79 million tonnes in 2019 to 17.
79 million tonnes in 2024, with an AAGR of 2.
4%, GlobalData said

"In the Middle East, the main source of new PET capacity is Saudi Arabia

GlobalData identified North America as the region with the third-highest growth in new PET capacity globally, with production increasing from 4.
6 million tons in 2019 to 5.
7 million tons in 2024, with an AAGR of 4.
3%

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