Global Purified Terephthalic Acid Market is segmented By Application (Polyester fiber, PET bottles, Films), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Report Overview
195 pages report analyses the Global Purified Terephthalic Acid Market shares, recent trends, competitive intelligence and future market outlook. The market is poised to grow at a CAGR of 4.67% until 2031. The major demand for PTA comes from Polyester fiber, films, and PET bottles. The Competitive rivalry intensifies with Indorama Ventures, Far Eastern Group, Mitsubishi Chemical Holdings, Zhejiang Yisheng Petrochemical Co., Ltd., Hengli Petrochemical, and Xianglu Petrochemical and others operating in the market.
Purified Terephthalic acid (PTA) is a raw material that is used in the production of high-performance multipurpose plastics like polybutylene terephthalate (PBT), polyethylene terephthalate (PET), polytrimethylene terephthalate (PTT) and even forms of bioplastics. It also finds its vast usage in the production of polyester fibers in the global market which are used to manufacture polyester coating resins for appliances, automotive, industrial maintenance even coil coatings.
The core technology for producing TPA has remained the same since the 1960s—crude TPA is produced by bromine-promoted catalytic oxidation of p-xylene, and purified by a hydrogenation step.
Purified Terephthalic acid (PTA) Market Summary
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Metrics |
Details |
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Market CAGR |
4.67% |
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Segments Covered |
By Application and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Purified Terephthalic acid (PTA) Market Dynamics and Trends
As PTA is crucial for the synthesis of many important polymers, demand for PTA has steadily increased due to the vast consumption of plastics worldwide. Worldwide demand for plastic materials is the primary factor that determines the demand for PTA.PTA has various properties such as Resistance to chemicals & stains, Good glass transition temperature range, Efficient powder flow & fluidizing characteristics, and Excellent weathering. These properties enhance its ability to be used as a raw material.
There is a growing demand for PTA in the production of carbonated plastic bottles as well as in the paints & coating industry. Food & beverages and pharmaceutical packaging industries are also witnessing increased demand for PTA.
PTA is a raw material for polyester films owing to its toughness & dimensional stability, and increased consumption of these films in photographic films, data storage tapes & sheets fuels the market demand for PTA. Increasing use in other end-segment industries, including construction, marine, transport & wind energy fuels demands for PTA.
Volatile crude oil prices and stringent regulations for environmental protection affect the PTA market.
Purified Terephthalic acid (PTA) Market Industry Analysis
The Global Purified Terephthalic Acid (PTA) Market is segmented by application. The major demand for PTA comes from Polyester fiber, films, and PET bottles.
Among all the applications, polyester fiber dominates the market demand by holding 65% of the market share in the global market demand. The polyester fiber used PTA as raw material and these fibers are further used to manufacture carpets, apparel, ropes, sportswear, etc which causes the massive demand for PTA. Demand for polyester fiber is further followed by PET bottles. It holds 27% of the market share in the global market demand.
PTA is commonly used in the production of carbonated PET bottles (used mostly for soft drinks & juices). Films also use it as a raw material in the production process. They contribute to the remaining 8% of the total market demand. These films are further used in pipes, packaging sheets, containers, etc.
Global Purified Terephthalic acid (PTA) Market Geographical Share
By region, the Global Purified Terephthalic acid (PTA) Market is segmented into North America, South America, Asia-pacific, Europe, and the Rest of the world. Due to Stringent regulations for environmental protection, North America and Europe have much smaller production of PTA.
United States was the biggest importer of terephthalic acid due to rising demand from the end-segment market of PET resin, polyester powder coating, and polyester resins. Germany was the second biggest importer of terephthalic acid.
China, India, and Taiwan are the biggest PTA producer in the world. Asia produces more than 75% of PTA in the world. The majority of new PTA plants are started in Asia.
The Asian-Pacific region is expected to dominate the market owing to the growth in the food & beverages, packaging, and construction sector. South Korea was the largest exporter of terephthalic acid in 2018. It exported material worth US 1.076bn followed by Thailand which exported material worth US 564.7mn.
Purified Terephthalic acid (PTA) Companies and Competitive Trends
The Global Purified Terephthalic acid Market consists of a few global players due to capital-intensive processes and patented technologies. Some of the critical players in the Purified Terephthalic acid Market are BP, China Petrochemical, Reliance Industries, SABIC, Cespa, Alpek, Eastman Chemical Company, Indorama Ventures, Far Eastern Group, Mitsubishi Chemical Holdings, Zhejiang Yisheng Petrochemical Co., Ltd., Hengli Petrochemical, and Xianglu Petrochemical.
In October 2018, the Indian Government approved a proposal to allot 98.53 acres to MCPI Tuesday to set up a new purified terephthalic acid (PTA) plant at an investment of Rs 4,500 crore (619 million USD) in Haldia. In June 2018, BP entered an agreement with a subsidiary of Xin Feng Ming Group Co. to license BP’s latest generation purified terephthalic acid (“PTA”) technology. In May INVISTA and Hengli Petrochemical (Dalian) Co., Ltd. (Hengli) reached, an agreement to license INVISTA’s latest purified terephthalic acid (PTA) process technology for Hengli’s fourth PTA line.
In May 2018, In March 2018, Indorama Ventures Enters into a Joint Venture to Acquire the Integrated PTA-PET Assets in Corpus Christi, Texas, USA. In Feb 2018, BP and SOCAR Turkey Enerji A.Ş entered into a licensing agreement for BP’s latest generation purified terephthalic acid (PTA) technology.
On November 2018, China announced, that it will allow overseas investors to trade purified terephthalic acid (PTA) futures on the Zhengzhou Commodity Exchange from Nov. 30
