Global PET capacity is poised to see considerable growth over the next five years, potentially increasing from 29.13 million tonnes per annum (mtpa) in 2022 to 37.52mtpa in 2027, registering a total growth of 29%. Approximately 20 planned and announced PET projects are expected to come online, predominantly in Asia, followed by North America over the upcoming years.
Asia is expected to add a capacity of 5.13mtpa from six new build planned and announced projects, whereas for the expansion of existing PET projects, the region is expected to add a capacity of 0.08mtpa from two planned and announced projects.
Within Asia, China leads with the largest capacity additions, with a capacity of 2.90mtpa from three planned and announced projects. The main capacity addition will be from an announced project, Zhejiang Petrochemical Daishan Polyethylene Terephthalate Plant 2, with a capacity of 2mtpa. It is expected to commence production of PET in 2026.
North America follows next with a capacity of 1.13mtpa from two new-build planned projects, although there is no expansion planned in the region. Corpus Christi Polymers Corpus Christi Polyethylene Terephthalate Plant, a planned project in the US, leads with a capacity of 1.10mtpa and is expected to come online in 2025.
Reports
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
