IG Petro to expand PA capacity to become world number two

IG Petrochemicals Ltd. plans to expand its phthalic anhydride (PA) capacity at Taloja by 40,000 tons to become the world number two in phthalic anhydride manufacturing after BASF. An investment outlay of Rs. 140 crores is planned for the expansion project. BASF currently produces 400,000 tpa at ten globally located sites. Taiwan's Formosa Plastics, with a capacity to produce 15,000 tpa, currently occupies the second spot. Phthalic Anhydride (PA) has a US$6 billion global market with demand for 3.8 million tons. In India, IGPL, Tirumalai Chemicals, Asian Paints, Aditya Chemicals and IGPL's group company Mysore Petrochem are the leading manufacturers of PA with a combined capacity of 220,000 tpa. Driven by a boom in the real estate and oil & gas industries, the Indian industry is growing at an annual rate of 8-9%. PA, processed from phthalic acid produced by oil refineries as a bye-product, is used to manufacture plasticizers, flexible PVCs, varnish, paint, textile dyes and polyester resins.
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