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Global Purified Terephthalic Acid Market Business Overview, Trends Analysis, And Forecast To 2032
Purified Terephthalic Acid Global Market
The Business Research Company's Purified Terephthalic Acid Global Market Report 2023 identifies increase in demand for polyester fibers as the major driver for the Purified Terephthalic Acid market's growth in the forecast period. Polyester fibers refer to synthetic fiber that consists of polyester and is derived from ethylene glycol and terephthalic acid and blended with other fibers. Purified terephthalic acid is a commodity chemical that plays an important role in the manufacturing of polyester fiber and polyethylene terephthalate (PET) resin, both of which are found in many consumer products, thus increasing demand for polyester fibers increases the demand for the purified terephthalic acid market.
The global purified terephthalic acid market size is expected to grow from $47.11 billion in 2022 to $50.13 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The purified terephthalic acid market size is expected to reach $62.11 billion in 2027 at a CAGR of 5.5%.
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Major competitors in the Purified Terephthalic Acid market are Indian Oil Corporation, Alpek S.A.B. de C.V., British Petroleum PLC, Reliance Industries Limited, Saudi Basic Industries Corporation, Sinopec Corporation, Jiaxing Petrochemical Co., PennWell Corporation, JBF Industries Ltd.
A key trend in the Purified Terephthalic Acid market includes Technological advancement. Major companies operating in the purified terephthalic acid market are focused on developing new technological solutions such as unique synthesis processes and applications to strengthen their position.
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The Purified Terephthalic Acid market is segmented -
1) By Manufacturing Process: Amoco Process, Co-Oxidation, Multistage Oxidation, Henkel Process
2) By Application: Polyester, Polybutylene Terephthalate (PBT), Plasticizers, Other Applications
3) By End User: Textile, PET Bottles, Packaging, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Purified Terephthalic Acid market.
The Business Research Company's "Global Purified Terephthalic Acid Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Purified Terephthalic Acid Market Include:
1. Executive Summary
2. Purified Terephthalic Acid Market Characteristics
3. Purified Terephthalic Acid Market Trends And Strategies
4. Purified Terephthalic Acid Market - Macro Economic Scenario
5. Purified Terephthalic Acid Market Size And Growth
……
27. Purified Terephthalic Acid Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Purified Terephthalic Acid Market
29. Purified Terephthalic Acid Market Future Outlook And Potential Analysis
30. Appendix
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