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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