Purified Terephthalic Acid (PTA) Market Growth 2022-2027: Global Industry Size, Trends, Share and Forecast

The latest research study "Purified Terephthalic Acid (PTA) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the Global Purified Terephthalic Acid (PTA) Market size reached US$ 82.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 112.96 Billion by 2027 exhibiting a CAGR of 5.25% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Purified terephthalic acid (PTA) represents an organic compound produced by a reaction between the secondary petroleum product paraxylene (PX) and acetic acid. It exhibits excellent characteristics, such as hardness, weathering, flexibility, chemical and stain resistance, powder flow and fluidization, etc.

Consequently, purified terephthalic acid is gaining extensive traction across countries for formulating general metal, appliance, industrial maintenance, coil coatings, etc. In line with this, it finds wide-ranging applications in the manufacturing of man-made polyester fabrics that are used in swimsuits, dresses, trousers, curtains, sportswear, sofa covers, jackets, car seat covers, bedsheets, etc.

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Global Purified Terephthalic Acid (PTA) Trends and Drivers:

The escalating demand for on-the-go bottled beverages, on account of the expanding working population with hectic work schedules, is primarily driving the purified terephthalic acid (PTA) market.

Additionally, the widespread product adoption in the manufacturing of light-colored, high-strength, and solvent-free adhesives that are used to bond metal, wood, paper, and synthetics in shoe fabrication, lamination, automotive sub-assembly, etc., is further catalyzing the market growth. Besides this, the inflating popularity of PTA in the production of recording tapes, cyclohexanedimethanol (CHDM), terephthaloyl chloride (TCL), co-polyester-ether elastomers, liquid crystal, etc., is acting as another significant growth-inducing factor.

Moreover, purified terephthalic acid is utilized in the pharmaceutical industry as a raw material for treating peptic ulcers, reflux esophagitis, gastroesophageal reflux disease (GERD), etc. This, along with the rising need for prescribed drugs, owing to the increasing prevalence of chronic medical disorders, is anticipated to fuel the purified terephthalic acid (PTA) market over the forecasted period

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Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Application:
• Polyester
• Fiber and Yarn Grade
• Polybutylene Terephthalate (PET) Grade
• Film Grade
• Polybutylene Terephthalate (PBT)
• Plasticizers
• Others

Breakup by End User:
• Textile
• Bottling and Packaging
• Home Furnishing
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

List of Major Key Players:

The major players in the market are Alpek S.A.B. de C.V., Eastman Chemical Company, Far Eastern New Century Corporation, Formosa Chemicals & Fibre Corp., HANWA Co. Ltd., Indian Oil Corporation Limited, Indorama Ventures Public Company Limited, Jiangyin Chengxing Industrial Group Co. Ltd., LOTTE Chemical Corporation, Mitsubishi Chemical Corporation, Reliance Industries Limited, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.) and Sinopec.

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