Purified Terephthalic Acid (PTA) Market Outlook: Growth Projected to Reach USD 18.36 Billion by 2034
The purified terephthalic acid (PTA) market is valued at USD 11,058.60 million in 2024 and is anticipated to surpass a valuation of USD 18,359.40 million by 2034. The purified terephthalic acid market size is projected to expand at a CAGR of 5.20% from 2024 to 2034.
Polyester is a versatile synthetic material whose demand has been continuously increasing for several reasons. Polyester is widely utilized in textiles, home furnishings, and apparel. Further driving up demand for polyester is the trend toward quick fashion and the desire for affordable textile alternatives.
Polyester is widely used in many applications because of its qualities, including longevity, resistance to wrinkles, and simplicity of maintenance. As a result, the growing polyester market is matched by an increasing need for PTA, an essential component in the synthesis of polyester.
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