Recently, ICIS said that after the strong earthquake in Türkiye on February 6, Asian PTA producers were evaluating their impact on the industrial chain.
ICIS said that according to the company’s supply and demand database, in 2022, about 79% of Türkiye’s PTA imports will come from Asia. The largest share came from South Korea, accounting for 40% of the total imports, and China accounted for 38% of the total imports. After the earthquake, Asian PTA manufacturers are considering postponing shipment to the port of Iskenderun, which is seriously affected by the earthquake. However, ports such as Mersin Port in Türkiye are limited by the earthquake. This may lead to changes in PTA logistics in the short term.
ICIS also said that due to the destruction of infrastructure and logistics facilities, the operating rate of PTA downstream processors, blow molding industry and terminal market in Türkiye may decline. According to some market sources, since the production unit is located in Gaziantep, the operating rate of Koksan’s polyethylene terephthalate (PET) production facility may be affected. According to the supply and demand database of ICIS, Koksan operates two sets of 216000t/a PET plants in Gaziantep.