Purified Terephthalic Acid Market: Growing at a CAGR of 6.4% from 2023-2026 Detailed Analytical Overview by 2026

Global industry analysis

The global purified terephthalic acid market is expected to grow at a compound annual growth rate (CAGR) of 6.4% during the forecast period from 2021 to 2026. Purified terephthalic acid (PTA) is a white, crystalline powder used as a raw material for the production of polyethylene terephthalate (PET), which is used in the manufacturing of various products such as bottles, textiles, and films.

The market growth is mainly driven by the increasing demand for PET in various end-use industries such as packaging, textiles, and automotive. The growing population, urbanization, and increasing disposable income in emerging economies such as China, India, and Brazil are expected to further boost the demand for PET and PTA.

With the increasing demand for polyester, especially in China, the market for purified terephthalic acid is expected to grow significantly in the coming years. The market for purified terephthalic acid is expanding due to the nation's burgeoning status as a hub for the global textile industry and its access to cheap labor. According to the end-use industries, polyethylene terephthalate replacing PTA is also expected to impact the PTA market.

Click on the sample report link:  https://www.persistencemarketresearch.com/samples/3434

Demand for the PTA market is expected to increase due to a number of growth factors, including rising per capita consumption in developing countries like China and significant growth in the textile sector. PTA manufacturers' profitability is expected to be impacted by changing prices for energy sources such as electricity. B. the price of crude oil required for the production of PTA is affected. This will affect the expansion of the market.

The beer and other alcoholic beverage and household product container industries are still dominated by the glass industry, which could be an unexplored market for PTA consumption, thereby providing new opportunities for the growth of the market.

Asia Pacific was the largest consumer of purified terephthalic acid, followed by North America and Europe. Future market growth is also expected to come from the Asia-Pacific region due to improving living standards and transnational use of PTA products.

Alfa, SAB de CV, CPC Corporation, Far Eastern Group, Honam Petrochemical Corporation, Indian Oil Corporation Limited, Mitsubishi Chemical Corporation, Mitsubishi Gas Chemical Co. Inc., Reliance Industries Ltd., Samyang Chemical Co., Ltd. and Saudi Basic Industries Corporation are among the major producers of purified terephthalic acid dominating the market.

Click on the custom report link:  https://www.persistencemarketresearch.com/request-customization/3434

Key points covered in the report

• Market segmentation by type, application, product and technology (if applicable)
• Geographic Segmentation
• North America
• Europa
• Asia
• Row
• Market size and forecast for the various segments and regions for the period from 2010 to 2020
• Company profiles of the leading companies operating in the market
• Porter's five forces analysis of the market

Click on the link to pre-book the report:  https://www.persistencemarketresearch.com/checkout/3434

Related Reports -

Cobalt Sulfate Market: https://www.persistencemarketresearch.com/market-research/cobalt-sulfate-market.asp
Iodine Market: https://www.persistencemarketresearch.com/market-research/iodine-market.asp
Cellulose Derivative Excipient Market: https://www.persistencemarketresearch.com/market-research/cellulose-derivative-excipient-market.asp

Contact us:
Persistence Market Research
Address - 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com

About us:
The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on 'green alternatives', recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing - 'The Way Forward'.

This release was published on openPR.