Purified Terephthalic Acid (PTA) Market

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
• DuPont
• Formosa Plastics Corporation
• Indorama Ventures Public Company Limited
• SABIC

Global Purified Terephthalic Acid (PTA) Market: Research Scope

Global Purified Terephthalic Acid (PTA) Market, by Application

• Polyester
  • Fiber & Yarn Grade
  • Polyethylene Terephthalate (PET) Grade
  • Film Grade
• Polybutylene Terephthalate (PBT)
• Plasticizers
• Others

Global Purified Terephthalic Acid (PTA) Market, by End-use Industry

• Textile
• PET Bottles
• Packaging
• Others

Global Purified Terephthalic Acid (PTA) Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia & CIS
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa