Global Purified Terephthalic Acid
Market Report
2025
Global Purified Terephthalic Acid market size was USD 45.77 billion in 2022 and it is forecasted to reach USD 65.71 billion by 2030. Purified Terephthalic Acid Industry's Compound Annual Growth Rate will be 4.6% from 2023 to 2030.
The base year for the calculation is 2024 and 2021 to 2024 will be historical period. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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Global Purified Terephthalic Acid market size was USD 45.77 billion in 2022 and it is forecasted to reach USD 65.71 billion by 2030. Purified Terephthalic Acid Industry's Compound Annual Growth Rate will be 4.6% from 2023 to 2030.
2019 | 2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Purified Terephthalic Acid Market Sales Revenue | 121212 | 121212 | 121212 | 121212 | 121212 | 4.6% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Application |
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Market Split by End User |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Purified Terephthalic Acid Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Purified Terephthalic Acid (PTA) is a chemical molecule having the molecular formula C6H4(CO2H)2. In the beginning, PX is oxidized in the presence of a catalyst to create crude terephthalic acid. By oxidizing paraxylene, the primary raw material for polyester and polyethylene terephthalate (PET) fibers is created. The process of hydrogenation, crystallization, centrifugation, and drying is used to purify crude terephthalic acid to create PTA. Purified Terephthalic Acid (PTA) is a critical raw ingredient used in the production of a variety of goods, including polyester textiles. PTA is crucial to people who work in the production of man-made textiles or their parts since it makes up around 70–80% of a polyester product. This covers items like spun yarn and polyester staple fiber.
Rising demand for packaged foods and beverages
The life of people now has completely changed from the way our ancestors lived. With the adoption of the modern lifestyle, and busy and hectic schedules people often skip their meals which also has an adverse impact on their health. Nowadays both men and women are working and generally do not have sufficient time for household chores or to prepare a proper meal at home. In the same manner, as teens' health consciousness has grown, so has the demand for packaged specific ready-to-eat juices, energy drinks, and health beverages. Demand for bottled water and flavored water enhanced with vitamins, natural flavors, or flavorings derived from natural sources such as basil, lemon, mint, and others has also increased as a result of increased tourism, increased accessibility of bottled water, and preferences for a healthy lifestyle on-the-go. According to the Beverage Marketing Corporation (BMC), overall bottled water volume increased by approximately 4% from 13.8 billion gallons in 2018 to 14.4 billion gallons in 2019. PET plays a significant role in the food and beverage packaging industry. PET is used in the production of plastic bottles which are widely used for soft drinks. PET is also used in flexible food packaging. Purified Terephthalic Acid (PTA) is an organic compound that is the main raw material for polyethylene terephthalate (PET). Thus, rising demand for packaged foods and beverages boosts the growth of the PTA market.
Terephthalic acid was produced by oxidation of p-xylene with dilute nitric acid which is then purified to produce PTA. However, in recent years the prices of p-xylene are fluctuating which leads to the limited usage of the product. This factor hampers the production of PTA. In 2017, the price of paraxylene was 847 USD per metric ton while it was inclined to 1059 USD per metric ton in 2018. Again in 2019 and 2020, the price of the product decreased to 887 USD per metric ton and 566 USD per metric ton respectively. This price fluctuation makes it difficult to plan the profit percentage which in turn hamper the growth of the PTA market.
PTA is primarily utilized as a raw material in the production of polyethylene terephthalate (PET) in combination with mono ethylene glycol (MEG) and polyester filament yarns, staple fibers, and yarns. Polyester fibers and yarns are used in the creation of textiles and films. In modest amounts, PTA is also used in the production of paints and other products. PET is a material that is widely utilized in today's consumer products and commodities packaging. It is used in everything from plastic water bottles and food containers to apparel, home furnishings, and automobile manufacturing. This rises in the usage of Purified Terephthalic Acid will drive the demand for Purified Terephthalic Acid in near the future.
The market for purified terephthalic acid has been moderately impacted by the advent of COVID-19. Purified terephthalic acid (PTA) was in demand on a global scale, although the demand fell from 71 million metric tonnes in 2019 to 67 million metric tonnes in 2020. Polyester coating resins for use in the creation of vehicle coatings are produced using purified terephthalic acid. The market has been adversely affected by the weakening automobile sector and the temporary halt of vehicle manufacture. The need for PTA during the COVID-19 period has also been impeded by the closure of several facilities, including textile, food and beverage, and many others. However, the demand for pure terephthalate acid, dimethyl terephthalate, and polyethylene terephthalate has grown due to the growing usage of face shields, transparent masks, food packaging, and e-commerce packaging.
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September 2021
GE Power Conversion has been chosen to provide the electrical system that will power the process air compressor at SASA Polyester Sanayi A.'s new petrochemical facility. The leading manufacturer of filament yarn, polymer, and polyester staple fibre in the world is SASA Polyester Sanayi A. In Adana, Turkey, they have obtained funding for the development of a plant for the manufacturing of purified terephthalic acid (PTA). After Germany and the United States, the nation imports PTA at the third-highest rate in the world. PTA is utilised in the textile, pharmaceutical, and food sectors as well as for packaging and food life extension. This will be Turkey's first PTA plant, and it will aid in lowering the deficit and imports of the nation's imports of this crucial raw material. The facility will have a 1.5 million tonne annual capacity.
Top Companies Market Share in Purified Terephthalic Acid Industry: (In no particular order of Rank)
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Asia Pacific dominates the Purified Terephthalic Acid market due to the increase in the textile industry and usage growing usage of PET in the region. China has a large and diversified textile sector that serves both home and foreign markets. The nation gains by having a sizable trained labour force, cutting-edge manufacturing techniques, and a vast distribution system. China is able to dominate the global cotton yarn industry thanks to these advantages. In recent years, Bangladesh has become a prominent player in the global textile and garment market. The nation advantages from a sizable population, affordable labour, and a hospitable investment environment for the textile industry. These elements have drawn international investment, helping Bangladesh establish a thriving textile sector. This drives the demand for PTA in the region.
In addition, a significant sustainable packaging trend will continue to emerge in Southeast Asia over the next few years in the shape of a booming market for 100% recycled PET (rPET). PET bottles are expected to contribute 75% of the growth in packaging unit volume in Southeast Asia by 2025, driven by their primary use in bottled water, which is expected to benefit from rising health consciousness and demand for hygienic forms of hydration, especially since all Southeast Asian countries, with the exception of Singapore, lack potable tap water. PET bottles currently make up about 45% of the soft drink packaging unit volume in the region in 2020. The region's expansion is fueled by this.
The current report Scope analyzes Purified Terephthalic Acid Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Purified Terephthalic Acid Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Purified Terephthalic Acid Industry growth. Purified Terephthalic Acid market has been segmented with the help of its Application, End User , and others. Purified Terephthalic Acid market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on the application, the Polybutylene terephthalate (PET) segment dominates the market growth. This is due to the rise in the usage of PET across several industries. The polymer is used in textile manufacturing, textiles, and packaging. To mold parts for automobiles, electronics, and many other products, it is also utilized in films.
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Based on the end user, the textile segment dominated the Purified Terephthalic Acid market. Purified Terephthalic Acid is used to make polyester fibre and yarn which are widely used in the textile sector.
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The Global Purified Terephthalic Acid Market is witnessing significant growth in the near future.
In 2023, the Polyester segment accounted for noticeable share of global Purified Terephthalic Acid Market and is projected to experience significant growth in the near future.
The Food & Beverage segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies China Petrochemical , JBF Industries and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Application | Polyester, Polybutylene terephthalate (PET), Polybutylene Terephthalate (PBT), Plasticizers, Others |
End User | Food & Beverage, Construction, Electrical & Electronics, Textile, Paints & Coatings, Furniture, Others |
List of Competitors | China Petrochemical, PennWell Corporation, JBF Industries, Indian Oil Corporation, Alpek S.A.B. de C.V, Lotte Chemical Corporation, MCPI Private Limited, Petkim Petrokimya Holding A.Ş., Taekwaang Industrial, Zhejiang Hengyi Group, Others |
This chapter will help you gain GLOBAL Market Analysis of Purified Terephthalic Acid. Further deep in this chapter, you will be able to review Global Purified Terephthalic Acid Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Purified Terephthalic Acid. Further deep in this chapter, you will be able to review North America Purified Terephthalic Acid Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Purified Terephthalic Acid. Further deep in this chapter, you will be able to review Europe Purified Terephthalic Acid Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Purified Terephthalic Acid. Further deep in this chapter, you will be able to review Asia Pacific Purified Terephthalic Acid Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Purified Terephthalic Acid. Further deep in this chapter, you will be able to review South America Purified Terephthalic Acid Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of Purified Terephthalic Acid. Further deep in this chapter, you will be able to review Middle East and Africa Purified Terephthalic Acid Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of Purified Terephthalic Acid. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Application Analysis 2019 -2031, will provide market size split by Application. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Application Analysis 2021 - 2033
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Chapter 11 Market Split by End User Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Purified Terephthalic Acid market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Polyester have a significant impact on Purified Terephthalic Acid market? |
What are the key factors affecting the Polyester and Polybutylene terephthalate (PET) of Purified Terephthalic Acid Market? |
What is the CAGR/Growth Rate of Food & Beverage during the forecast period? |
By type, which segment accounted for largest share of the global Purified Terephthalic Acid Market? |
Which region is expected to dominate the global Purified Terephthalic Acid Market within the forecast period? |
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