Top 5 companies PET resin production capacity

Top 5 Companies With PET Resin Production Capacity

One of the most well-liked and often utilized polymers worldwide is Pet Resin. Packaging for pharmaceuticals, food, and beverages frequently contains it.

The aggregate PET production capacity of the top five businesses in the world is around 5.9 million tonnes. Most of these businesses are based in Asia.

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1. Indorama Ventures

The world's largest producer of PET resin is Indorama Ventures. Asia, Europe, and the Americas are where its manufacturing facilities are located.

In North America, IVL operates two manufacturing facilities that create PET resins, polyester and polyolefin fibers and yarns, as well as packaging materials for food, medicine, and cosmetics. Additionally, it maintains a third manufacturing facility in the US that creates glycols and oxides for plasticizers and detergents.

In addition to its PET resin business in North America, IVL has also purchased a number of petrochemicals and fibers companies. The largest single manufacturing plant for ethylene oxide and ethylene glycol in the United States, the Old World complex in Clear Lake, Texas, was acquired by the company in 2012.

Additionally, the company bought Beverage Plastics in the UK and the Polypet facility in Indonesia. In addition to its current businesses in phenol, acetone, and LAB/LABSA (raw materials needed to make detergents) in Spain, Canada, Brazil, and China, IVL was able to acquire these companies, making it the largest manufacturer of intermediate petrochemicals in the world.

Since then, IVL has made investments in a variety of projects to increase its capabilities for mechanical recycling. Its most recent undertaking is the construction of a recycling facility in Karawang, Indonesia, which will shred more than 2 billion bottles annually and use the waste to create R-PET resins for the plastic packaging sector.

The yearly recycled PET capacity of IVL is anticipated to increase to 1.1 million tons in 2020, making it the second-largest R-PET recycler in the world. Through the acquisition of additional R-PET factories and the development of its mechanical recycling capabilities, the firm hopes to enhance its market share in the R-PET industry globally. One of the main vendors for this project, TOMRA, has given IVL's newly constructed recycling facility in Mexico its flake sorting equipment.

2. Alpek

A significant share of the total global capacity for bottle-grade PET resin is held by the top five businesses in the rankings of pet resin bottle grade production capacity. In general, these businesses gain from downstream integration with important raw material supplies, such as PX and PTA. They frequently also create or own cutting-edge production technologies.

The industry is beginning to reflect more intently on future capacity growth as a result of the pandemic delaying or pausing numerous PET capacity projects. The bulk of the top 5 producers are intending to add additional capacity, and most of them will be doing so in China, despite the continued uncertainty surrounding demand.

Alpek is the second-largest global manufacturer of PET resin among the major producers. Included in this are its four PET sheet production plants, which are located in Salalah, Oman; Riyadh, Saudi Arabia; Cincinnati, Ohio; and Richmond, Indiana.

The company's new factory in Salalah will make use of a patented direct-to-sheet (DPET) technology that eliminates multiple energy-intensive conversion steps to produce PET sheets at the lowest possible cost. Additionally, DPET increases sustainability and provides clients with a desirable value-added product.

Although Alpek's largest factory is in Salalah, where its primary manufacturing facility is located, the firm is making significant investments to improve its position in the PET resin market by acquiring a third facility in Riyadh and growing its North American PET sheet activities. This new facility, which is scheduled to operate in 2022, will use DPET for the first time in North America.

As a result, it will be able to offer consumers a comprehensive selection of premium, environmentally friendly PET sheet materials for a number of uses. By utilizing its current base of facilities, this investment has the potential to have a considerable influence on Alpek Polyester's overall operating income.

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3. Sanfame

The thermoplastic polymer resin Polyethylene Terephthalate (PET) is one of the most widely used. It is produced using mono ethylene glycol and dimethyl terephthalate, or pure terephthalic acid (DMT).

PET is a polymer that may be utilized in many applications since it is robust, long-lasting, and recyclable. In the production of bottles, jars, and other packaging products, it is frequently employed. Additionally, it is employed in the manufacture of films and technical plastics.

The demand for PET resin is anticipated to rise dramatically in Asia-Pacific. This is a result of the region's expanding electronics market, which is principally propelled by strong demand from China and India. Additionally, it is anticipated that the region's rapid economic development will increase demand for PET resins.

The growth in disposable income, urbanization, and demand for fast-moving consumer products are the primary drivers of PET resin manufacturing in the Asia-Pacific area (FMCG). Throughout the projected period, this tendency is anticipated to persist.

The region's demand for PET resin is also predicted to increase in response to the expanding market for ecologically friendly products. This is as a result of the high degree of recycling and several recycling possibilities of PET resin.

A number of Chinese producers, including Jiashan Molai Trading Co., Ltd. and Shanghai Hongqi Plastic Technology Co., Ltd., are in the forefront of PET resin polyethylene terephthalate production in the Asia-Pacific area. The combined annual output capacity of these producers exceeds 2 million tons. Other significant producers in the area include CR Chemical Materials Technology Inc. and Chongqing Wankai, a division of Zhejiang Zhengkai.

4. Wankai

PET resin is a flexible, eco-friendly plastic that is extensively utilized in the packaging sector just like the PVC resin. Clamshells, deli containers, and microwave meal trays all use it. It also has a range of additional uses, including as in electronics and building. Because PET resin has advantages over other packaging materials, the market for it is predicted to expand.

PET resin is one of the many plastic goods that Wankai, a Chinese corporation, manufactures. The aggregate annual production capacity of the company's facilities is 1.7 million tons.

Wankai manufactures PTA as well as other plastic compounds in addition to PET. Shenzhen, in the province of Guangdong, is home to the company's primary production site.

Wankai intends to boost its manufacturing capacity by 1.2 million tonnes during the subsequent three years. Its intentions are consistent with those of other Chinese companies, which intend to increase their production capacity by 6.5 million tonnes between 2022 and 2025.

With the company's development, it will be able to produce 1.1 million tons of PET and 1.3 million tons of PTA annually. As a result, it will be the largest PTA-PET production facility in the Americas.

The North American company of Indorama Ventures, which is currently having difficulty competing with low-cost Asian production, will benefit significantly from this initiative. It will encourage trade between Asia and the US, boosting the company's market share internationally.

In the upcoming years, it is anticipated that the global market for PET resin would expand quickly. The demand for electronic items and the rising use of plastics in these industries will be the main drivers of this expansion.

5. Yisheng

One of the biggest producers of PET resin worldwide is Yisheng. Its production capacity spans both North America and Asia. Middle Eastern countries are also affected by it. Terephthalic acid (PTA), a crucial raw ingredient used to make PET, is produced there.

In China, there are numerous large projects with a combined capacity of more than 1 million tons. These include the 600,000 t/yr PET bottle chip lines in Dalian owned by Yisheng and the launch of a second, 500,000 t/yr line next to a 1.5 million t/yr PET bottle chip facility in Hainan.

By the start of 2020, these two factories will boost Yisheng's capacity to produce 2.6 million t/yr of PET bottle chips. By the end of 2021, it is anticipated to overtake all other producers of PET bottle chips in the globe.

Chinese producers, who are increasing their manufacturing capacity, control a sizable chunk of the PET resin industry. As a result, a lot of businesses are able to raise the amount of domestically produced material they generate while reducing their reliance on imported raw materials.

Trading sources claim that the US is a big supplier of PET resin to the world market. Between January and September 2021, imports into the nation increased 2% due to robust US demand.

The US PTA market, however, may continue to be undersupplied until the first half of 2022. Due to a predicted lack of paraxylene feedstock, European PTA markets are also expected to become more limited.

In the second half of 2022, a number of new PTA units will also start operating on the Chinese PTA market, which will help to balance the oversupply in this market. The No. 6 PTA line at Yisheng Ningbo is expected to begin operation in July, while the No. 1 and No. 2 units at Hengli Huizhou will also be operational by the end of 2021.