An Overview of the Thai PO Market in 2018
2019-07-09    [Source:PUdaily]

PUdaily, Shanghai--

Currently, Thailand has only one PO plant, which uses HPPO process and has a capacity of 390,000 tons/year. Owned by Dow Chemical, it came onstream in early 2012. The 200k t/a CHP unit, jointly funded by PTTGC and TTC, has begun construction and is scheduled to come online in the 3rd quarter of 2020.

Since April 2015, when Dow’s 200k t/a polyols facility in Thailand began operation, POs produced in the country have been mainly for home use. A small amount of them are exported. POs exported to China are mostly supplied to Zhejiang Pacific Chemical and Dow Chemical (Zhangjiagang). It is learned that due to the expiration of land-use rights and operating period, Zhejiang Pacific Chemical Limited Corporation was closed at the beginning of this year. Its polyether polyols and blended polyols facilities were moved to Dow’s other factories. In November 2018, Dow Chemical put into production a 80k t/a rigid polyols facility in Thailand. Thus, Thailand’s demand for PO is expected to increase and as a result Dow’s exports to China will decrease. If PTTGC’s PO plant begins production on schedule, besides supplying its own 130k t/a polyols facility, developing export market will also be its option.

In 2018, Thailand’s PO imports were mainly from Saudi Arabia and South Korea, with volumes remaining largely unchanged. As the domestic consumption increases, Thailand’s exports to Australia and China decreased.

It is estimated that in 2018 Thailand consumed about 294,000 tons of POs, up 7.1% year on year.

Table 1 Major sources for Thailand’s PO imports 2017-2018 (in tons)

Table 2 Major destinations for Thailand’s PO exports and export volume 2017-2018 (in tons)

Note: Due to the different statistical methods used by the countries, the volumes of PO imports and exports may be mutually inconsistent. The data are only for reference.

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