Recently, Petronas PTT has completed a joint venture agreement with Mitsui Chemicals Co., Ltd. Both parties have passed the PET and PTA global chemical joint venture. The joint venture group will jointly assist in the management of Siamese Mitsui PTA Co., Ltd. (SMPC), PTA (PTA) ) and the manufacturer of Thai PET Resin Co., Ltd. (TPRC), a producer of ethylene terephthalate resin (PET). The joint venture agreement proposes that the future cooperation has just begun, thus promoting the relationship between Thai National Petroleum and Mitsui Chemicals. Business Cooperation.
Important figures were present during the signing of the joint venture agreement, including President and CEO of National Petroleum Global Chemical Company of Thailand, Chairman of the Board of Directors of TOC Glycol Co., Ltd. and CEO of Mitsui Chemicals Co., Ltd., which stated the shares of SMCC and TPCR 74% will be held by GC and Tokyo Electric Power Company, and the remaining 26% will be held by Mitsui Chemicals.
PTT Global Chemicals President and CEO said: 'This joint venture is an important step in our strategic direction. The diversified plastic resin portfolio is coordinated with the company's business strategy. We not only want to expand downstream business, but also increase market potential. To meet the needs of customers, we will also provide business cooperation opportunities to strengthen the raw material management of PX and MEG, and ultimately promote the profitability of PET in the entire business.
PTA is one of the important bulk organic raw materials, widely used in various aspects of the national economy such as chemical fiber, light industry, electronics, construction, etc. At the same time, the application of PTA is more concentrated, more than 90% of the world's PTA is used for production Ethylene terephthalate. In the domestic market, 75% of PTA is used to produce polyester fiber; 20% is used to produce bottle grade polyester, mainly used in the packaging of various beverages, especially carbonated beverages; 5% Used in film grade polyester, mainly used in packaging materials, film and tape.
PET plastics are polyphthalic plastics, mainly including polyethylene terephthalate and polybutylene terephthalate, also known as polyester resin. Glass fiber reinforced PET is suitable for the electrical, electronic and automotive industries. Various coil bobbins, TV sets, recorder parts and housings, car lamp holders, etc. PET engineering plastics currently consumes in several applications: electrical electronics 26%, automotive 22%, mechanical 19%. Currently PET engineering plastics The total consumption is not large, accounting for only 1.6% of the total PET.