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.
As per latest report by AMA Research, the Global Purified Terephthalic Acid market is expected to grow at a cagr of 5.6% and may reach USD70.0 Billion by 2027.Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Billion) |
Key Companies Profiled | 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) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Market Drivers
- High Demand for Carbonated Plastic Bottles Due To Flexibility and Toughness
- Increasing Use of PTA in Various Industries
Market Trend
- Growing Demand for Bio-Plastic Production
Opportunities
- Growing Packaging Industry Worldwide
- Rising Demand from Paints and Coating Industry
Challenges
- Stringent Government Rules and Regulations about Environment Safety
The Purified Terephthalic Acid market framework should serve as a basic structure to support the strategic decision-making process for Vendors. For instance, the question of whether a Vendors wants to expand in other areas of the market value chain would fundamentally determines its strategy.
1. What is the current setup of the Purified Terephthalic Acid Industry, and what is its growth trajectory through 2027?
2. Trends that might impact the resulting strategic moves of the Vendors
3. How can Vendors take advantage of the changing market dynamics and capture new opportunities lying in Purified Terephthalic Acid market?
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).