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 2022 and is forecast to a readjusted size of US$ 51780 million by 2028 with a CAGR of 2.9% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Type 1 accounting for % of the Purified Terephthalic Acid (PTA) global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. 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 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
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 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Type 1
Type 2
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