China's PTA production capacity continues to expand, some long-stop devices out of

Since 2022, China's PTA industry chain continues to expand and continues to develop in the direction of integration. 

However, under the rapid expansion of the PTA industry, the impact of the sharp rise in energy prices and the global economic recession caused by the conflict between Russia and Ukraine this year, the profits of upstream and downstream products are weakening, the pressure of industry competition is increasing, and the prosperity of the PTA industry is gradually declining. 

However, the equipment in the PTA plant was reduced and overhauled in stages, and the operating rate remained low during the year, and the tight liquidity of the spot led to a sharp rise in the cash basis. 

However, under the weak economic consumption, the performance of terminal demand is weak, and the market wait-and-see mood is strong. 

In 2022, 5.8 million tons of new units were put into production in China, and 3.05 million tons of units were eliminated, with a total increase of 2.75 million tons. By the end of 2022, the total domestic PTA production capacity reached 70.305 million tons. 

This year, the processing fees of PTA enterprises remain on the low side, and under the condition of loss, some production enterprises reduce load and parking maintenance frequently, and the pattern of removing storage appears during the year, but from the perspective of supply and demand pattern, the domestic PTA market shows a pattern of supply exceeding demand. 

According to Jinlian statistics, according to the existing production capacity and public data, new PTA devices will continue to be launched in 2023. It is expected that the supply and demand situation of the PTA market will not improve in 2023, and oversupply is still the consensus of the industry. 

There are a large number of valves in PTA plant, especially some special valves, such as titanium valves. BISNTE has a mature automatic control scheme.