Purified Terephthalic Acid Market to Hold a High Potential for Growth by 2023

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Global industry analysis

The purified terephthalic acid (PTA) market is growing rapidly even in the face of a global pandemic. This growth is due to strong demand from the textile and plastics industries, as well as technological advances that have made PTA more accessible and cost-effective than ever.

The chemical known as purified terephthalic acid (PTA) is made by synthesizing crude oil. It is mainly used in the production of polyester fibers. End-use sectors include textiles and home textiles, where PTA is used to make clothing and other textiles such as bedding and curtains.

With the increasing demand for polyester, especially in China, the market for purified terephthalic acid is expected to grow significantly in the coming years. The market for purified terephthalic acid is expanding due to the nation’s burgeoning status as a hub for the global textile industry and its access to cheap labor. According to the end-use industries, polyethylene terephthalate replacing PTA is also expected to impact the PTA market.

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Demand for the PTA market is expected to increase due to a number of growth factors, including rising per capita consumption in developing countries like China and significant growth in the textile sector. PTA manufacturers’ profitability is expected to be impacted by changing prices for energy sources such as electricity. B. the price of crude oil required for the production of PTA is affected. This will affect the expansion of the market.

The beer and other alcoholic beverage and household product container industries are still dominated by the glass industry, which could be an unexplored market for PTA consumption, thereby providing new opportunities for the growth of the market.

Asia Pacific was the largest consumer of purified terephthalic acid, followed by North America and Europe. Future market growth is also expected to come from the Asia-Pacific region due to improving living standards and transnational use of PTA products.

Alfa, SAB de CV, CPC Corporation, Far Eastern Group, Honam Petrochemical Corporation, Indian Oil Corporation Limited, Mitsubishi Chemical Corporation, Mitsubishi Gas Chemical Co. Inc., Reliance Industries Ltd., Samyang Chemical Co., Ltd. and Saudi Basic Industries Corporation are among the major producers of purified terephthalic acid dominating the market.

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Key points covered in the report

  • Market segmentation by type, application, product and technology (if applicable)

  • Geographic Segmentation

    • North America

    • Europa

    • Asia

    • Row

  • Market size and forecast for the various segments and regions for the period from 2010 to 2020

  • Company profiles of the leading companies operating in the market

  • Porter’s five forces analysis of the market

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