Purified terephthalic acid (PTA) is a raw material used in making high-performance multi-purpose plastics such as polybutyl terephthalate(PBT), polyethylene terephthalate(PET), and the new bioplastic that has been garnering attention in recent years, polytrimethylene terephthalate(PTT). Purified terephthalic acid (PTA) is made by causing a reaction between the secondary petroleum product paraxylene (PX) and acetic acid.
Market Analysis and Insights: Global Purified Terephthalic Acid (PTA) Market
Due to the COVID-19 pandemic, the global Purified Terephthalic Acid (PTA) market size is estimated to be worth US$ 43620 million in 2023 and is forecast to a readjusted size of US$ 51780 million by 2030 with a CAGR of 2.9% during the forecast period 2023-2030. Fully considering the economic change by this health crisis, Type 1 accounting for % of the Purified Terephthalic Acid (PTA) global market in 2022, is projected to value US$ million by 2030, growing at a revised % CAGR from 2023 to 2030. While Polyester segment is altered to an % CAGR throughout this forecast period.
Based on region, the purified terephthalic acid market in South America is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increased demand for purified terephthalic acid from PET grade resin producers in South America. Asia Pacific is the largest market for purified terephthalic acid. The rise in consumption of PET material bottles and the increase in demand for purified terephthalic acid from the packaging industry are key factors driving the growth of the Asia Pacific purified terephthalic acid market.
Global Purified Terephthalic Acid (PTA) Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market?s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2018 to 2030. This section mentions the volume of production by region from 2018 to 2030. Pricing analysis is included in the report according to each type from the year 2018 to 2030, manufacturer from 2018 to 2023, region from 2018 to 2023, and global price from 2018 to 2030.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert?s opinions have been taken to understand the market better.
Global Purified Terephthalic Acid (PTA) Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2018 to 2030. by Application segment also provides consumption during the forecast period of 2018 to 2030. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Segment by Application
- Polyester
- Polybutylene Terephthalate (PBT)
- Plasticizers
- Others
By Company
- British Petroleum
- Reliance Industries
- Sinopec
- Indorama Ventures Public Company
- SABIC
- Alpek
- Eastman Chemical
- Indian Oil
- Lotte Chemical
- Mitsubishi Chemical
- Petkim Petrokimya Holding
- JBF Petrochemicals
- MCPI
- Jiaxing Petrochemical
- China Prosperity (Jiangyin) Petrochemical
- Hanwha General Chemical
- Hengli Petrochemical
Production by Region
- North America
- Europe
- China
- Japan
Consumption by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Russia
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Australia
- Taiwan
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Latin America
- Mexico
- Brazil
- Argentina
