Purified Terephthalic Acid (PTA) Market Size, Growth Analysis Report, Forecast to 2032

In 2022, the global purified terephthalic acid (PTA) market is anticipated to be worth US$ 58,248.1 million. Polyester fibres’ rising use due to their ability to blend with various natural and synthetic fibres is expected to drive demand during the projection period. Purified terephthalic acid (PTA) consumption is expected to expand at a 5.5% CAGR between 2022 and 2032, totaling roughly US$ 99,496.2 Million by 2032.

Purified terephthalic acid (PTA) is a crucial element in manufacturing man-made fibers. Around 70-80% of polyester products are made up of purified terephthalic acid. Purified terephthalic acid is a cost effective alternative to dimethyl terephthalate (DMT), PTA has been a commonplace in the textile and packaging sectors.

Moreover, PTA is finding application in healthcare sector for treating peptic ulcer, reflux esophagitis and gastroesophageal reflux disease (GERD). The global purified terephthalic acid market is projected to grow at a healthy CAGR over the forecast period, 2020-2030. Market players are exploring growth potentials in marine, construction, and transport & wind energy industries.

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Purified Terephthalic Acid (PTA) Market – Competitive Landscape

The global purified terephthalic acid market is highly fragmented, key manufacturers accounting for slight over a third of overall market revenue. Market leaders are focusing on collaboration and capacity expansion to maintain their competitiveness in the purified terephthalic acid market.

Players in global purified terephthalic acid market include

Sinopec Yizheng Chemical Fibre Company
Mitsui Chemicals
Reliance Industries Limited
Eastman Chemical Company
DuPont, Formosa Plastics Group
Alfa Group
Indian Oil Corporation
Mitsubishi Chemical Corporation
SABIC
Samsung Petrochemical Co. Ltd.
Samyang Corporation.

Purified Terephthalic Acid (PTA) Market – Segmentation

Purified terephthalic acid market is segmented on the basis of following,

By Application

Polyester
By Grade
Fiber & Yarn Grade
Polybutylene terephthalate (PET) Grade
Film Grade
Polybutylene Terephthalate (PBT)
Plasticizers
Others

By End User

Textile
PET Bottles
Packaging

Purified Terephthalic Acid (PTA) Market Regional Analysis

Asia Pacific (APAC) continues to hold leading share in purified terephthalic acid market. China is the largest manufacturer and exporter of PTA in the world. Additionally, APAC is the largest textile consumer, especially polyester fabric and yarn. Growing at a CAGR of around 5%, the APAC textile is poised to register revenues worth US$ 520 by 2024.

Further, surging sales of apparels through online platforms is anticipated to provide remunerative opportunities for PTA manufacturers. Going forward, North America is also attracting significant stakeholders’ investments, given rising adoption of polyethylene terephthalate (PET) in bottling and packaging industries. Studies find that the PET bottle industry in the region is expected to exhibit stable growth in the coming years.

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Middle East Paints and Coating Market Size, Latest Trends, Regional Insights Dynamics By 2032

The market has been significantly influenced by certain macro-economic and industrial factors including chemical industries development, growing construction sector, economic development, manufacturing sector, architectural sector development, and others.

According to research conducted by Future Market Insights on the middle east paints and coatings market, demand for paints and coatings to reach a valuation of US$ 7,447.9 Mn by the end of the forecast period. In the oil & Gas industry paints and coatings industry helps in the protection of offs**** and ons**** rigs, in the ons**** plant coating is used to protect Pipework, Jacket, Flare bloom, Living quarter, and Riser.

The large Industrial & protective coatings market being created by the Middle Eastern oil and gas industry is particularly attractive to European, as well as North American and Japanese, coatings manufacturers because it requires global technical standards. In fact, its needs are even tougher because of the region’s climate which necessitates resistance against hot temperatures, UV rays, and potential abrasion from sand and dust.

Marine paints and coatings are utilized on a wide range of vessels, including freight and business ships. Marine polyurethane paints and coatings are utilized in business and recreation creates as well as on seaward designs, for example, big hauler stages, pipelines, oil apparatuses, and storage spaces. The growing marine industry is expected to boost the market for paints and coating in the middle east.

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Paints and Coating Market Segmentation

By Resin Type:

Acrylic
Pure Acrylic
Styrene
Vinyl
Alkyd
Polyurethane
Epoxy
Polyester
Others

By Technology:

Water-borne
Solvent-borne
Powder Coatings

By End-Use:

Architecture
Interior
Exterior
Automotive & Transportation
Protective Coating
Wood
Refinish
Coil Coating
Packaging
Marine
General Industrial

Competitive Landscape

The market of paints and coatings in the middle east is estimated to be a consolidated market, where key players are expected to account for a key share of the market. Some of the top manufacturers include Jotun Paint, Sigma Paint, Al Jazeera Paint, SAK Coat., The PPG Group, Sherwin-Williams, Nippon Paint ME FZE, Asian Paints, Akzo Nobel, Middle East Paints Company, Global Paints FZC, Kansai Paints, Henkel Jebel Ali FZCO, BASF SE, Arkema Group, DuPont de Nemours, Inc.: Cabot Corporation, Fosroc are some of the manufacturers of Paints and Coatings profiled in the full version of the report.

Key players are focusing on increasing their production capacity to enhance their market footprint all over the globe and to gain traction in the market. Further certain key players are focusing on investing in the latest Paints and Coatings products production owing to a significant increase in the demand from the architectural industry..

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