Purified Terephthalic Acid (PTA): Introduction
- Purified Terephthalic Acid (PTA) is a raw material used in the production of high-performance multipurpose plastics such as polybutylene terephthalate (PBT), polyethylene terephthalate (PET), and polytrimethylene terephthalate (PTT)
- Purified Terephthalic Acid (PTA) is used extensively in the production of polyester fibers. It is also employed in the manufacture of polyester coating resins for various applications in general metal, appliances, automotive, industrial maintenance, and coil coatings. Purified Terephthalic Acid (PTA) is primarily used as a prominent raw material in the production of various thermoplastics.
Key Drivers and Restraints of Purified Terephthalic Acid (PTA) Market
- Rise in demand for Purified Terephthalic Acid (PTA) in the production of carbonated plastic bottles due to its flexibility and toughness is driving the Purified Terephthalic Acid (PTA) market. Purified Terephthalic Acid (PTA) is used as a raw material for polyester films owing to its toughness and dimensional stability. Increase in consumption of these films in photographic films and data storage tapes & sheets is expected to fuel the Purified Terephthalic Acid (PTA) market.
- Rise in demand for Purified Terephthalic Acid (PTA) in the paints & coating industry is anticipated to propel the Purified Terephthalic Acid (PTA) market, as Purified Terephthalic Acid (PTA) is majorly used as a raw material in the manufacture of coating resins. Increase in demand for Purified Terephthalic Acid (PTA) in food & beverages and pharmaceutical packaging industries is also expected to drive the Purified Terephthalic Acid (PTA) market.
- Growth of the Purified Terephthalic Acid (PTA) market is primarily driven by the rise in demand for Purified Terephthalic Acid (PTA) in textile and packaging industries, ongoing urbanization, and improvement in lifestyle of consumers in Asia Pacific. Expansion of end-use markets, such as bottling and packaging and fiber & yarn, is also driving the demand for Purified Terephthalic Acid (PTA).
- Volatility in prices of crude oil is estimated to hamper the Purified Terephthalic Acid (PTA) market in the near future. Implementation of stringent regulations on Purified Terephthalic Acid (PTA) is expected to boost the demand for bio-based Polyethylene Terephthalate (PET). This is estimated to hamper the demand for Purified Terephthalic Acid (PTA) market during the forecast period
COVID-19 Impact Analysis on Supply Chain
- Governments of several countries across the globe have imposed stringent lockdowns to limit the spread of the coronavirus. Movement of individuals and economic activities, related to goods and services, have come to a halt because of lockdowns. Purified Terephthalic Acid (PTA) is the vital raw material used in the production of polyester fabrics. China is the major exporter of the Purified Terephthalic Acid (PTA). Spread of coronavirus in China led to initial disruptions in the supply chain. This, in turn, hampered the Purified Terephthalic Acid (PTA) market.
Purified Terephthalic Acid (PTA) Market Segmentation
- The global Purified Terephthalic Acid (PTA) market can be segmented based on application and end-use industry
- In terms of application, the global Purified Terephthalic Acid (PTA) market can be divided into polyester, polybutylene terephthalate, plasticizers, and others. Polyester can be further segregated into fiber & yarn grade, polyethylene terephthalate (PET) grade, and film grade.
- In terms of end-use industry, the global Purified Terephthalic Acid (PTA) market can be classified into textile, PET bottles, packaging, and others
Purified Terephthalic Acid (PTA) Market: Regional Segmentation
- In terms of region, the global Purified Terephthalic Acid (PTA) market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- Asia Pacific is projected to dominate the Purified Terephthalic Acid (PTA) market in the near future owing to the growth in food & beverages, packaging, and construction sectors. In terms of demand, Asia Pacific is followed by North America. Demand for Purified Terephthalic Acid (PTA) is rising in North America due to the expansion in the PET bottle industry in the region.
- Asia Pacific is also the largest consumer of polyester fiber and yarn. Rise in demand for polyester fiber and yarn in the textile industry and increase in consumption of PET bottles are projected to drive the Purified Terephthalic Acid (PTA) market in the region.
Key Players Operating in Global Market
- Sinopec Yizheng Chemical Fibre Company Limited
- Mitsui Chemicals, Inc.
- Reliance Industries Limited
- Eastman Chemical Company
- Formosa Plastics Corporation
- Indorama Ventures Public Company Limited
Global Purified Terephthalic Acid (PTA) Market: Research Scope
Global Purified Terephthalic Acid (PTA) Market, by Application
- Fiber & Yarn Grade
- Polyethylene Terephthalate (PET) Grade
- Film Grade
- Polybutylene Terephthalate (PBT)
Global Purified Terephthalic Acid (PTA) Market, by End-use Industry
- PET Bottles
Global Purified Terephthalic Acid (PTA) Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.