Purified Terephthalic Acid Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Derivative (Polyethylene Terephthalate, Polybutylene Terephthalate, Polytrimethylene Terephthalate, Dimethyl Terephthalate), By Application (Packaging, Fibers, Paints & Coatings, Adhesives, Others), By Region, and By Competition

  • Industry : Chemicals
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 58.40 billion

CAGR (2023-2028)

5.65%

Fastest Growing Segment

Polyethylene Terephthalate (PET)

Largest Market

Asia-Pacific


Market Overview

Global Purified Terephthalic Acid Market was valued at USD 58.40 billion in 2022 and is anticipated to grow in the forecast period with a CAGR of 5.65% through 2028. The global purified terephthalic acid (PTA) market is a vital segment of the petrochemical industry, playing a crucial role in the production of polyester. PTA is a key raw material for the manufacturing of polyester fibers, resins, and films, which find applications in diverse industries such as textiles, packaging, and automotive.

Key Market Drivers

Rising Demand for Polyester Products

The global purified terephthalic acid (PTA) market is experiencing a significant upswing, propelled by the escalating demand for polyester products across various industries. Polyester, a versatile synthetic polymer, has become a staple in the textile, packaging, and automotive sectors, driving the need for PTA—a key component in its production.

At the forefront of the burgeoning demand for polyester is the textile industry, where polyester fibers have emerged as a preferred choice for manufacturers and consumers alike. The intrinsic properties of polyester, such as durability, wrinkle resistance, and color retention, make it a go-to material for clothing, home textiles, and industrial fabrics. As fashion trends evolve and consumers seek more sustainable and cost-effective options, the demand for polyester textiles continues to surge, propelling the PTA market forward.

The packaging industry is witnessing a transformative phase driven by the e-commerce boom and changing consumer expectations. Polyester's strength, flexibility, and resistance to external factors make it an ideal material for modern packaging solutions. From food packaging to courier bags, the demand for polyester-based packaging materials is on the rise. As environmental concerns prompt a shift towards recyclable and sustainable packaging, PTA becomes even more pivotal in meeting these demands, thus fostering market growth.

The automotive sector is increasingly turning to polyester-based materials for interior components, seat fabrics, and various automotive textiles. Polyester's ability to withstand wear and tear, coupled with advancements in manufacturing techniques, positions it as a preferred choice for enhancing the aesthetics and durability of automotive interiors. As the automotive industry continues to innovate and incorporate more polyester products, the demand for PTA is set to experience a parallel surge.

The ongoing trend of global urbanization, accompanied by shifts in consumer lifestyles, is contributing to the rise in demand for polyester products. Urban populations, with their evolving preferences and higher disposable incomes, are fueling the need for clothing, home furnishings, and accessories made from polyester. This demographic shift plays a crucial role in driving the growth of the PTA market.

Industrialization and Economic Growth

The global purified terephthalic acid (PTA) market is experiencing a surge in growth, propelled by the twin engines of industrialization and economic expansion. As nations strive for progress and development, the demand for PTA, a fundamental component in the production of polyester, is witnessing a robust upswing.

Industrialization is a transformative force that reshapes the economic landscape of nations. As countries undergo industrialization, there is a consequential increase in the demand for materials such as polyester, driving the need for PTA. The manufacturing sector, in particular, relies heavily on polyester for a myriad of applications, including textiles, packaging, and industrial components. The escalating production requirements of these sectors directly contribute to the growing demand for PTA.

Economic growth is a linchpin for the prosperity of any nation, and as economies expand, so does the purchasing power of consumers. The rise in disposable income correlates with an uptick in consumer demand for a variety of goods, many of which are manufactured using polyester. Clothing, home furnishings, and an array of consumer products feature polyester as a key ingredient. The resulting surge in demand trickles down the supply chain, intensifying the need for PTA production.

Industrialization often goes hand in hand with infrastructure development and construction activities. The construction sector, a significant consumer of polyester-based materials, relies on PTA for the production of items like fibers, ropes, and geotextiles. As nations invest in infrastructure projects to support their growing populations and urbanization, the demand for PTA experiences a notable boost.

A burgeoning automotive industry is synonymous with economic development. As economies grow, there is an increased demand for automobiles, each containing various components made from polyester. From seat fabrics to interior components, polyester's versatility plays a crucial role in the automotive sector. The ongoing technological evolution within the automotive industry further amplifies the demand for PTA.

Packaging Industry Expansion

The global purified terephthalic acid (PTA) market is experiencing a transformative surge, propelled by the dynamic expansion of the packaging industry. As the world witnesses a revolution in packaging preferences and sustainability standards, PTA, a vital component in the production of polyester—a key material in modern packaging—finds itself at the forefront of this burgeoning market.

The contemporary packaging landscape is characterized by a paradigm shift towards sustainability. With consumers increasingly prioritizing eco-friendly practices, there is a growing demand for sustainable packaging materials. Polyester, derived from PTA, fits the bill perfectly. Its recyclability, durability, and versatility position it as a preferred choice for sustainable packaging solutions, thus catalyzing the demand for PTA.

The exponential growth of e-commerce has revolutionized the retail sector and, consequently, the packaging industry. The need for flexible, durable, and visually appealing packaging materials has surged. Polyester-based films and pouches, often produced using PTA, offer the desired attributes for e-commerce packaging. As online shopping continues to dominate, the demand for such polyester-based packaging materials is poised for sustained growth.

The packaging industry is intricately linked with the consumption of various consumer goods. From food and beverages to personal care products, the demand for attractive, functional, and protective packaging is ever-present. Polyester, derived from PTA, is adept at meeting these requirements, especially in the form of PET bottles and containers. The expanding consumption of consumer goods globally directly contributes to the escalating demand for PTA.

Ongoing technological advancements in the packaging industry are fostering innovation and efficiency. Modern packaging techniques, such as barrier coatings and advanced printing technologies, often involve the use of polyester. PTA, as a critical raw material in polyester production, stands to benefit from these innovations, further driving its market growth.

Urbanization and Lifestyle Changes

The global purified terephthalic acid (PTA) market is experiencing a dynamic surge in demand, driven in large part by the rapid pace of urbanization and the consequential evolution of consumer lifestyles. As more people gravitate towards urban centers, embracing new ways of living, the demand for polyester-based products derived from PTA is witnessing unprecedented growth.

Urbanization is a global phenomenon, with an increasing number of people choosing to reside in urban areas. Cities, as hubs of economic activity, innovation, and diverse lifestyles, become epicenters for heightened consumption. This surge in urban populations directly contributes to a rising demand for products made from polyester, the production of which hinges on PTA.

The growth of urban centers often coincides with the expansion of the middle class. As more individuals attain higher income levels, their purchasing power increases, leading to a shift in consumption patterns. The middle class tends to seek products that align with modern, urban lifestyles—clothing, home furnishings, and various consumer goods—all of which frequently incorporate polyester, thus intensifying the demand for PTA.

Urbanization brings about changes in fashion preferences and an increased focus on personal style. Polyester, known for its versatility, durability, and cost-effectiveness, is a staple in the fashion and apparel industry. As urbanites embrace fast fashion and seek affordable yet trendy clothing options, the demand for polyester textiles surges, consequently boosting the PTA market.

Urban lifestyles are often characterized by fast-paced routines, leading to a growing reliance on convenience products. Packaged goods, ranging from food and beverages to personal care items, frequently utilize polyester-based packaging materials derived from PTA. The urban consumer's preference for on-the-go, easily accessible products contributes significantly to the demand for PTA.



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Key Market Challenges

Fluctuating Raw Material Prices

The PTA market is heavily reliant on raw materials such as paraxylene, a byproduct of crude oil. Fluctuations in crude oil prices can significantly impact the cost structure of PTA production. Sudden spikes in raw material prices pose challenges for market players in terms of maintaining profitability and cost competitiveness.

Environmental Scrutiny and Regulatory Challenges

The petrochemical industry, including PTA production, often faces scrutiny due to its environmental impact. Regulatory changes aimed at curbing emissions and promoting sustainable practices can result in compliance challenges and increased operational costs. Meeting stringent environmental standards remains a persistent challenge for the PTA market.

Volatility in Exchange Rates

The global nature of the PTA market makes it susceptible to currency fluctuations. Changes in exchange rates can impact the competitiveness of PTA producers in the international market and affect export-import dynamics.

Key Market Trends

Sustainable Practices Taking Center Stage

A significant shift towards sustainability is reshaping industries globally, and the PTA market is no exception. With increased environmental awareness, consumers and industries alike are demanding more sustainable and eco-friendly practices. PTA producers are expected to adopt greener production methods, emphasizing recycling, reduced energy consumption, and a lower carbon footprint to align with evolving environmental standards.

Circular Economy Initiatives

Circular economy initiatives are gaining traction, emphasizing the importance of recycling and reusing materials. In the PTA market, there's a growing focus on creating a closed-loop system where PTA-derived products, particularly polyester, can be recycled and repurposed. Innovations in recycling technologies and processes are anticipated to drive the adoption of a circular economy in the PTA industry.

Bio-Based PTA Production

The quest for sustainable alternatives is propelling the development of bio-based PTA production. Researchers and industry players are exploring the use of renewable feedstocks, such as bio-based raw materials, to produce PTA. This trend aligns with the broader bioeconomy movement, emphasizing the use of biological resources in industrial processes.

Segmental Insights

Derivative Insights

Polyethylene Terephthalate (PET) is poised to dominate the global Purified Terephthalic Acid (PTA) market due to its exceptional attributes that align with the evolving demands of various industries. As a PET derivative, it offers unparalleled versatility, making it a preferred choice in the packaging sector, particularly in the production of bottles and containers. PET's lightweight nature, coupled with its robust and transparent characteristics, addresses the growing need for sustainable and visually appealing packaging solutions. Additionally, the increasing emphasis on eco-friendly practices favors PET, as it is fully recyclable and supports circular economy initiatives. With a rising consumer awareness of environmental concerns, PET's dominance in the PTA market is further solidified by its ability to meet stringent regulatory requirements. The continual innovation and development of PET applications, ranging from textiles to automotive components, positions it as a frontrunner in the global PTA market, promising sustained growth and market leadership.

Application Insights

Packaging is set to dominate as the primary application in the global Purified Terephthalic Acid (PTA) market owing to a confluence of factors driving demand in this sector. With the escalating e-commerce trends and increasing consumer preferences for convenience, the need for innovative and efficient packaging solutions is on the rise. Purified Terephthalic Acid, as a key raw material in the production of polyethylene terephthalate (PET), plays a pivotal role in the creation of lightweight, durable, and versatile packaging materials. PET's widespread adoption in the manufacturing of bottles, containers, and films caters to the diverse requirements of the packaging industry. Moreover, the heightened awareness of environmental sustainability has accelerated the use of PET, given its recyclability and contribution to the circular economy. As global regulations and consumer sentiments align towards eco-friendly practices, the dominance of Packaging as a leading application in the PTA market is reinforced, making it a key driver of growth and market influence.


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Regional Insights

The dominance of the Asia-Pacific region in the global terephthalic acid market is attributed to the matured downstream industries, particularly in packaging, textile manufacturing, and food and beverage sectors, found in countries like China and India. The presence of affordable labor and low production costs further supports the expansion of these downstream industries in the region. China, leading both in terephthalic acid production and demand worldwide, is actively strengthening its position in downstream markets through substantial capacity expansions, such as Yisheng Petrochemical's commissioning of two new purified terephthalic acid (PTA) production lines in 2021. Concurrently, China boasts the world's largest textile industry, driving high demand for PTA-derived polyester fibers. The Indian textile and apparel industry, on the other hand, is poised for substantial growth, with estimates indicating a reach of USD 190 billion by 2025-2026. India's textile and apparel exports in FY 2022 witnessed a remarkable 41% year-on-year increase, reaching USD 44.4 billion. The pivotal role of terephthalic acid in producing polyethylene terephthalate (PET), a critical material in the packaging sector, is underscored by the Packaging Industry Association of India's report, revealing a robust CAGR of over 20% in the past five years. This growth has not only contributed to the sector's technological advancements but has also bolstered innovation across various manufacturing domains. In conclusion, the increasing investments in PTA production and the growing demand for PTA across diverse end-user industries are anticipated to drive the continued growth of the Asia-Pacific market.

Recent Developments

  • August 2022 saw the announcement of a strategic investment plan by the Indian multinational conglomerate company, Reliance Industries Ltd., aimed at expanding the capacity of the polyester value chain over the next five years. As a crucial component of this initiative, the company is set to construct the world's largest single-train PTA (purified terephthalic acid) plant with a capacity of 3 MMTPA in Dahej, Gujarat.
  • Meanwhile, in March 2022, Ineos Aromatics successfully completed the enhancement of its PTA plant in Merak, Indonesia. This involved the installation of a large oxygen reactor and the reconfiguration of the heat recovery system, contributing to a reduction in carbon emissions from the site operations. Additionally, the company augmented the PTA capacity from 500,000 tons to 575,000 tons per annum as part of the overall upgrading process.

Key Market Players

  • Arkema SA
  • BP PLC
  • Ineos Group Ltd
  • China Petroleum & Chemical Corp
  • Eastman Chemical Company
  • Formosa Petrochemical Corp.
  • Indian Oil Corp Ltd
  • Indorama Ventures PCL
  • Lotte Chemical Corp
  • Mitsubishi Chemical Corp

 By Derivative

By Application

By Region
  • Polyethylene Terephthalate
  • Polybutylene Terephthalate
  • Polytrimethylene Terephthalate
  • Dimethyl Terephthalate
  • Packaging
  • Fibers
  • Paints & Coatings
  • Adhesives
  • Others
  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Purified Terephthalic Acid Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Purified Terephthalic Acid Market, By Derivative:

o   Polyethylene Terephthalate

o   Polybutylene Terephthalate

o   Polytrimethylene Terephthalate

o   Dimethyl Terephthalate

  • Purified Terephthalic Acid Market, By Application:

o   Packaging

o   Fibers

o   Paints & Coatings

o   Adhesives

o   Others

  • Purified Terephthalic Acid Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  Germany

§  United Kingdom

§  France

§  Italy

§  Spain

o   Asia-Pacific

§  China

§  Japan

§  India

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Kuwait

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Purified Terephthalic Acid Market.

Available Customizations:

Global Purified Terephthalic Acid market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

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Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

5.    Global Purified Terephthalic Acid Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Derivative (Polyethylene Terephthalate, Polybutylene Terephthalate, Polytrimethylene Terephthalate, Dimethyl Terephthalate)

5.2.2.     By Application (Packaging, Fibers, Paints & Coatings, Adhesives, Others)

5.2.3.     By Region

5.2.4.     By Company (2022)

5.3.  Product Market Map

5.3.1.     By Derivative

5.3.2.     By Application

5.3.3.     By Region

6.    North America Purified Terephthalic Acid Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Derivative (Polyethylene Terephthalate, Polybutylene Terephthalate, Polytrimethylene Terephthalate, Dimethyl Terephthalate)

6.2.2.     By Application (Packaging, Fibers, Paints & Coatings, Adhesives, Others)

6.2.3.     By Country

6.3.  North America: Country Analysis

6.3.1.     United States Purified Terephthalic Acid Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Value

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Derivative

6.3.1.2.2.             By Application

6.3.2.     Canada Purified Terephthalic Acid Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Value

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Derivative

6.3.2.2.2.             By Application

6.3.3.     Mexico Purified Terephthalic Acid Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Value

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Derivative

6.3.3.2.2.             By Application

7.    Europe Purified Terephthalic Acid Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Derivative (Polyethylene Terephthalate, Polybutylene Terephthalate, Polytrimethylene Terephthalate, Dimethyl Terephthalate)

7.2.2.     By Application (Packaging, Fibers, Paints & Coatings, Adhesives, Others)

7.2.3.     By Country

7.3.  Europe: Country Analysis

7.3.1.     Germany Purified Terephthalic Acid Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Derivative

7.3.1.2.2.             By Application

7.3.2.     United Kingdom Purified Terephthalic Acid Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Derivative

7.3.2.2.2.             By Application

7.3.3.     France Purified Terephthalic Acid Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Derivative

7.3.3.2.2.             By Application

7.3.4.     Italy Purified Terephthalic Acid Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Derivative

7.3.4.2.2.             By Application

7.3.5.     Spain Purified Terephthalic Acid Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Derivative

7.3.5.2.2.             By Application

8.    Asia-Pacific Purified Terephthalic Acid Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Derivative (Polyethylene Terephthalate, Polybutylene Terephthalate, Polytrimethylene Terephthalate, Dimethyl Terephthalate)

8.2.2.     By Application (Packaging, Fibers, Paints & Coatings, Adhesives, Others)

8.2.3.     By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.     China Purified Terephthalic Acid Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Derivative

8.3.1.2.2.             By Application

8.3.2.     Japan Purified Terephthalic Acid Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Derivative

8.3.2.2.2.             By Application

8.3.3.     India Purified Terephthalic Acid Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Derivative

8.3.3.2.2.             By Application

8.3.4.     Australia Purified Terephthalic Acid Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Derivative

8.3.4.2.2.             By Application

8.3.5.     South Korea Purified Terephthalic Acid Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Derivative

8.3.5.2.2.             By Application

9.    South America Purified Terephthalic Acid Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Derivative (Polyethylene Terephthalate, Polybutylene Terephthalate, Polytrimethylene Terephthalate, Dimethyl Terephthalate)

9.2.2.     By Application (Packaging, Fibers, Paints & Coatings, Adhesives, Others)

9.2.3.     By Country

9.3.  South America: Country Analysis

9.3.1.     Brazil Purified Terephthalic Acid Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Derivative

9.3.1.2.2.             By Application

9.3.2.     Argentina Purified Terephthalic Acid Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Derivative

9.3.2.2.2.             By Application

9.3.3.     Colombia Purified Terephthalic Acid Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Derivative

9.3.3.2.2.             By Application

10.  Middle East and Africa Purified Terephthalic Acid Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Derivative (Polyethylene Terephthalate, Polybutylene Terephthalate, Polytrimethylene Terephthalate, Dimethyl Terephthalate)

10.2.2.  By Application (Packaging, Fibers, Paints & Coatings, Adhesives, Others)

10.2.3.  By Country

10.3.              MEA: Country Analysis

10.3.1.  South Africa Purified Terephthalic Acid Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Derivative

10.3.1.2.2.           By Application

10.3.2.  Saudi Arabia Purified Terephthalic Acid Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Derivative

10.3.2.2.2.           By Application

10.3.3.  UAE Purified Terephthalic Acid Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Derivative

10.3.3.2.2.           By Application

10.3.4.  Kuwait Purified Terephthalic Acid Market Outlook

10.3.4.1.      Market Size & Forecast

10.3.4.1.1.           By Value

10.3.4.2.      Market Share & Forecast

10.3.4.2.1.           By Derivative

10.3.4.2.2.           By Application

11.  Market Dynamics

11.1.              Drivers

11.2.              Challenges

12.  Market Trends & Developments

12.1.              Recent Development

12.2.              Mergers & Acquisitions

12.3.              Product Launches

13.  Porter’s Five Forces Analysis

13.1.              Competition in the Industry

13.2.              Potential of New Entrants

13.3.              Power of Suppliers

13.4.              Power of Customers

13.5.              Threat of Substitute Products

14.  Competitive Landscape

14.1.             Arkema SA

14.1.1.  Business Overview

14.1.2.  Product Offerings

14.1.3.  Recent Developments

14.1.4.  Financials (As Reported)

14.1.5.  Key Personnel

14.1.6.  SWOT Analysis

14.2.             BP PLC

14.3.             Ineos Group Ltd

14.4.             China Petroleum & Chemical Corp

14.5.             Eastman Chemical Company

14.6.             Formosa Petrochemical Corp.

14.7.             Indian Oil Corp Ltd

14.8.             Indorama Ventures PCL

14.9.             Lotte Chemical Corp

14.10.            Mitsubishi Chemical Corp

15. Strategic Recommendations

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Purified Terephthalic Acid Market was estimated to be USD 58.40 billion in 2022.

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Arkema SA, BP PLC, Ineos Group Ltd, China Petroleum & Chemical Corp, Eastman Chemical Company, Formosa Petrochemical Corp., Indian Oil Corp Ltd, Indorama Ventures PCL, Lotte Chemical Corp, Mitsubishi Chemical Corp are some of the key players operating in the Global Purified Terephthalic Acid Market.

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Fluctuating raw material prices, overcapacity concerns, shifts in consumer preferences, are some of the major challenges faced by the Global Purified Terephthalic Acid Market in the upcoming years.

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Rising demand for polyester products and industrialization & economic growth are the major drivers for the Global Purified Terephthalic Acid Market.

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Sakshi Bajaal

Business Consultant
Press Release

Purified Terephthalic Acid Market to Grow with a CAGR of 5.65% through 2028

Jan, 2024

Increasing use of polyester in diverse industries supported by industrialization is expected to drive the Global Purified Terephthalic Acid Market growth in the forecast period, 2024-2028.

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