Market Snapshot:
Purified terephthalic acid (PTA) is a raw material used in making high-performance multi-puropose plastics such as polybutyl terephthalate (PBT), polyethylene terephthalate (PET) and new bioplastic polytrimethylene terephthalate (PTT). It is made by causing a reaction between the secondary petroleum product paraxylene (PX) and acetic acid. It is also used in making clothes and plastic bottles. Its properties include excellent weathering, resistance towards chemical and stains, hard and flexible, good glass transition temperature range, efficient powder flow and fluidizing characteristics.
Highlights from Purified Terephthalic Acid Market Study
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Forecast Value (2032) | USD 70.0 Billion |
Unit | Value (USD Billion) |
CAGR | 5.6% |
The key Vendors profiled in the report are Indian Oil Corporation (India), Mitsubishi Chemical (Japan), Honam Petrochemical (South Korea), Reliance Industries (India), Samyang Chemical (China), SABIC (Saudi Arabia), Sinopec Yizheng Chemical Fibre Company (China), Formosa Plastics Group (Taiwan), DuPont (United States) and Mitsui Chemicals (Japan).
Geographic Breakdown and Segment Analysis
The Global Purified Terephthalic Acid market presents a comprehensive analysis of the Purified Terephthalic Acid market by product type (PET Resins, Polyester Fiber, Films and Others), by end-user/application (Cyclohexanedimethanol Production, Plasticizers, Liquid Crystal Polymers, Textiles, Bottling and Packaging and Furnishing), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Purified Terephthalic Acid industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in the geographical region of interest.
For instance, while the holds majority of market share of the Purified Terephthalic Acid market
Analyst at AMA have segmented the market study of Global Purified Terephthalic Acid market by Type, Application and Region.
Purified Terephthalic Acid Market Dynamics:
Attributes | Details |
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Growth Drivers | - High Demand for Carbonated Plastic Bottles Due To Flexibility and Toughness
- Increasing Use of PTA in Various Industries
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Influencing Trends | - Growing Demand for Bio-Plastic Production
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Restraints | - Fluctuations in the Crude Oil Prices
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Gaps & Opportunities | - Growing Packaging Industry Worldwide
- Rising Demand from Paints and Coating Industry
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Market Developments Activities:
On 29th June 2021, Hanwha General Chemical announced the acquisition of the Power Systems Mfg. LLC (PSM) and Ansaldo Thomassen B.V. (ATH), both companies are international leaders in hydrogen combustion technology. Hanwha General Chemical is South Korea’s leading producer of purified terephthalic acid (PTA), which is the primary component in many types of polyester.
On 25th May 2021, Indo Rama Synthetics (India) Limited (IRSL), a subsidiary of petrochemical producer Indorama Ventures Public Co. Ltd. (IVL), is upgrading equipment and adding capacity at its manufacturing site in Nagpur, India. This capital expansion includes the new PET resin manufacturing facility, additional balancing equipment, and a large range of specialty yarns, further strengthening IRSL’s ability to serve clients across the country
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Target Audience
Purified Terephthalic Acid Manufacturers, Distributors, Research Professionals, Emerging Companies, Government Body & Associations and End-user