Press release
Purified Terephthalic Acid Global Market Report 2025: Explosive Growth to $55.66 Billion, Steering 6.0% CAGR powered by Increased Polyester Fiber Demand
Purified Terephthalic Acid Global Market
Unveiling Trends and Growth Drivers in the Global Purified Terephthalic Acid Market
What Is The Projected Market Size Of The Global Purified Terephthalic Acid Market And Its Growth Rate?
•The purified terephthalic acid market size has grown robustly recently and is set to rise from $52.49 billion in 2024 to $55.66 billion in 2025, with a compound annual growth rate (CAGR) of 6.0%.
•The growth in the historic period can be credited to rising polyester fiber and pet demand, expanding textile, apparel, and packaging industries, shift towards pet bottles and packaging, and continued economic development.
•The market will further swell to $72.8 billion in 2029 at a compound annual growth rate of 6.9% with growth in the forecast period being attributed to shift towards green and bio-based materials, global trade expansion, use of sustainable and recyclable materials, and ongoing economic development.
What Is Driving The Growth In The Purified Terephthalic Acid Market?
The growing demand for polyester fibers is fueling the growth of the purified terephthalic acid market. Polyester fibers, a synthetic fiber that is derived from ethylene glycol and terephthalic acid, are blended with other fibers and are fundamental in several consumer products. The rising demand for polyester fibers translates into increased demand for purified terephthalic acid. For instance, in September 2024, Belgium's import of woven fabric polyester staple fibers rose by €7.88k ($8.69 k) (5.25%) from €150k ($164k) to €158k ($176.51k), according to The Observatory of Economic Complexity data, underlining the upsurge in the polyester fibers demand.
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Who Are the Key Players Driving Purified Terephthalic Acid Market Growth?
•Indian Oil Corporation
•Alpek S.A.B. de C.V.
•British Petroleum PLC
•Reliance Industries Limited
•Saudi Basic Industries Corporation
•Sinopec Corporation
•Jiaxing Zhonghua Chemical Co. Ltd.
•JBF Industries Ltd.
•China Petrochemical Corporation
•Indorama Ventures Public Company
•Lotte Chemical Corporation
•Petkim Petrokimya Holding A.S
What Are The Key Trends In The Purified Terephthalic Acid Market?
•Shift towards green and bio-based materials
•Global trade and market expansion
•Use of sustainable and recyclable materials
•Continued economic development
•Focus on circular economy principles
•Regulatory compliance and safety standards
•Shift towards lightweight materials and bio-based alternatives
What Are The Segments Of The Global Purified Terephthalic Acid Market?
•Manufacturing Process: Amoco Process, Co-Oxidation, Multistage Oxidation, Henkel Process
•Application: Polyester, Polybutylene Terephthalate (PBT), Plasticizers, Other Applications
•End User: Textile, PET Bottles, Packaging, Other End Users
Which Region Leads The Purified Terephthalic Acid Market?
In 2024, North America was the largest region in the purified terephthalic acid market. Europe is expected to register the highest growth in the forecast period. The regions covered in this market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Purified Terephthalic Acid Global Market Report?
- Market Size Analysis: Analyze the Purified Terephthalic Acid Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Purified Terephthalic Acid Market for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Purified Terephthalic Acid Market.
- Competitive Developments: Analyze competitive developments like expansions, agreements, and new product launches in the market.
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