Global Purified Terephthalic Acid (PTA) Market 2017-2021

This market research study identifies BP, China Petrochemical, Eastman, Mitsubishi Chemical Holdings, and Reliance Industries as the leading players in the global purified terephthalic acid (PTA) market. A comprehensive analysis of this market is also presented by application (polyester fiber, PET resins, films, and others) and by geography (the Americas, APAC, and EMEA).

Overview of the global purified terephthalic acid (PTA) market

A large number of textile manufacturers use PTA in various grades of polyesters that are extensively used in textiles such as bedsheets, fabrics, clothes, curtains, and others. Technavio’s research analysis on the global purified terephthalic acid (PTA) market has identified the growing demand for PTA from textiles as one of the major factors that will have a positive impact on the market’s growth in the coming years. PTA offers superior strength to various polyester grades textiles and is increasingly being used by the household furnishings and apparels sector. Moreover, they also offer superior chemical resistance, quick drying, and higher wrinkle resistance to these polyester grades. Owing to factors including the growing demand for polyester fibers from fabrics, fiberfill, and nonwoven fabrics, the increasing disposable income, and the changing fashion trends, the demand for polyester will increase in the coming years. This will subsequently drive the growth of the PTA market, which according to our analysis, will grow at a CAGR of close to 8% by 2021.

A large number of alcoholic beverage vendors are shifting towards the utilization of polyethylene terephthalate (PET) bottles for packaging of beer and wine since  PET is light in weight than glass packaging materials. The adoption of PET will further increase in the alcoholic beverages packaging industry since PET can maintain stability and appearance the alcoholic beverage. Moreover, the application of PET bottles also reduces the production cost. According to our analysis, the rising popularity of PET bottle packaging will be one of the major trends influencing the growth of the purified terephthalic acid (PTA) market in the coming years.

Competitive landscape and key vendors

The purified terephthalic acid (PTA) market is fragmented and characterized by the presence of both large and small vendors. International vendors are trying to gain a competitive edge over the other vendors by differentiating their products in terms of features, price, services, and performance. Several major vendors of the purified terephthalic acid market are focusing on increasing their market share by extending their reach in many regions.

Key vendors in this market are -

• BP
• China Petrochemical
• Eastman
• Mitsubishi Chemical Holdings
• Reliance Industries

Other prominent vendors in the market include Alpek, CEPSA, DowDuPont, Far Eastern Group, Formosa Petrochemical, Hanwha Group, Hengli Petrochemicals, JBF Industries, LOTTE CHEMICAL, Oriental Petrochemical (Taiwan), Indorama Ventures Public Company, Indian Oil, SABIC, TAEKWANG INDUSTRIAL, TONGKUN GROUP, and Zhejiang Hengyi Group

Segmentation by application and analysis of the PTA market

• Polyester fiber
• Pet resins
• Films

PTA is extensively used in the production of polyester fiber. The purified terephthalic acid market is witnessing growth in the polyester fiber segment due to the rising disposable income, changing fashion trends, changes in consumer lifestyle, and rapid urbanization. A large number of manufacturers employ polyester fiber to manufacture bedsheets, cushions, pillowcases, towels, curtains, draperies, carpets, and rugs.

Segmentation by geography and analysis of the PTA market

• Americas
• APAC
• EMEA

The demand for packaging of processed foods and pharmaceuticals, films, coatings, and chemicals is increasing in APAC. This in turn, will boost the application of PTA because they are used to enhance the performance of the final product. The production process of polyesters, PET, and fibers involves PTA as a raw material. The PTA market will grow in the APAC region during the estimated period because countries such as China, India, Taiwan, and South Korea are extensively focusing on the production of PTA for various purposes.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global purified terephthalic acid (PTA) market?
• What are the key market trends impacting the growth of the global purified terephthalic acid (PTA) market?
• What are the challenges to market growth?
• Who are the key vendors in the global purified terephthalic acid (PTA) market?
• What are the market opportunities and threats faced by the vendors in the global purified terephthalic acid (PTA) market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global purified terephthalic acid (PTA) market?

Technavio also offers customization on reports based on specific client requirement.