Purified Terephthalic Acid (PTA) Market size to grow by USD 45.16 billion from 2022 to 2027, Increase in demand from the textile industry to drive the market growth

Micheal Johnson

NEW YORK, April 21, 2023 /PRNewswire/ — The global purified terephthalic acid (PTA) market size is estimated to increase by USD 45.16 billion from 2022 to 2027. The market’s growth momentum will progress at a CAGR of 8.46{5e37bb13eee9fcae577c356a6edbd948fa817adb745f8ff03ff00bd2962a045d} during the forecast period. The PTA market is predominantly driven by the increase in demand from the textile industry. PET fibers are preferably used in the production of textiles that require high resistance. They are more resistant to elongation due to their higher initial modulus and being stiffer than nylon fibers. These properties give the fabrics high dimensional stability. PET is also processed into fiberfill and used in furniture, pillows, and insulating clothing. It can be made into thin filaments for rayon or large-diameter filaments for carpets. PET is used to manufacture products such as seat belts, conveyor belts, power transmission belts, tire threads, and disposable medical clothing. Discover some insights on market size, historic period (2017-2021), and forecast period (2023-2027) before buying the full report – Request a sample report

Technavio has announced its latest market research report titled Global Purified Terephthalic Acid (PTA) Market 2023-2027

Technavio has announced its latest market research report titled Global Purified Terephthalic Acid (PTA) Market 2023-2027

Purified terephthalic acid (PTA) market – Vendor Analysis
Vendor Landscape – The global purified terephthalic acid (PTA) market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer purified terephthalic acid (PTA) in the market are Alfa Chemistry, Alpek SAB de CV, Arkema Group, BP Plc, China Petrochemical Corp., Colossustex, Eastman Chemical Co., Indian Oil Corp. Ltd., Indorama Ventures Public Co. Ltd., INEOS Group Holdings SA, Jamorin International, Johnson Matthey Plc, Lotte Chemical Corp., Mitsubishi Chemical Holdings Corp., Moradia Brothers Chem Pvt. Ltd., Reliance Industries Ltd., Samsung Electronics Co. Ltd., Saudi Basic Industries Corp., Sundyne LLC, and Taekwang Group and others.

Vendor Offerings –

  • Alpek SAB de CV – The company offers purified terephthalic acid for plastic water bottles and food containers.

  • Arkema Group – The company offers purified terephthalic acid, such as Kynar polyvinylidene fluoride (PVDF).

  • BP Plc – The company offers purified terephthalic acid such as BP PTA technology.

  • For details on the key vendors and their exclusive offerings – Request a sample report

Purified Terephthalic Acid (PTA) Market – Segmentation Assessment

Segment Overview
Technavio has segmented the market based on application (polyester fiber, pet resins, films, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa).

  • The market share growth of the polyester fiber segment will be significant during the forecast period. The increasing use of PET fibers in the manufacturing of disposable medical garments with antibacterial and antifungal properties and their widespread use as fiberfill to insulate garments have increased their demand. In addition, growing environmental concerns about reducing carbon emissions from increasing plastic waste have increased the need to recycle PET materials.

Geography Overview
By geography, the global purified terephthalic acid (PTA) market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global purified terephthalic acid (PTA) market.

  • APAC is estimated to account for 52{5e37bb13eee9fcae577c356a6edbd948fa817adb745f8ff03ff00bd2962a045d} of the market growth during the forecast period. The region is dominating the global PTA market, with many leading revenue-generating countries. Another key factor driving the demand for PTA as a flexible packaging solution in APAC is the rapid growth of the retail and e-commerce industry in the region. The e-commerce industry in Asian countries such as China and India has grown exponentially over the past decade. In India, for example, the market entry of e-retailers and online shops such as Amazon.com and Flipkart and the rise of mobile and internet connectivity are driving consumer spending and shifting preferences to online shopping. These factors have increased the demand for his PTA of flexible packaging in the region.

For some key market insights on global, regional, and country-level parameters with
growth opportunities from 2017 to 2027 – Download a Sample Report

Purified Terephthalic Acid (PTA) Market – Market Dynamics

Key Trends – 

  • Growing beverage consumption in Brazil, Russia, India, and China (BRIC) markets will be an emerging PTA market during the forecast period.

  • BRIC tops the world economic growth charts.

  • GDP growth in these countries is estimated to exceed global GDP growth by about 26{5e37bb13eee9fcae577c356a6edbd948fa817adb745f8ff03ff00bd2962a045d}.

  • These countries are famous for their large, rapidly growing economies, fueled by the expanding beverage industry.

  • These factors will support market growth during the forecast period.

Major challenges – 

  • Crude oil price volatility is a major challenge hindering market growth.

  • The fluctuating price of the raw materials used to manufacture PET is a major challenge for the global PTA market.

  • Prices of raw materials such as polymers and resins fluctuated in 2022 due to the war between Russia and Ukraine.

  • After Russia invaded Ukraine, concerns over a global shortage of Russian oil supplies sent oil prices soaring above USD 120 a barrel.

  • PET is a derivative of petroleum and natural gas. Therefore, the price of PET fluctuates in parallel with the price of natural gas and crude oil.

Drivers, trends, and challenges affect the market dynamics, which can impact
businesses. Find more insights in a sample report!

What are the key data covered in this Purified Terephthalic Acid (PTA) Market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the purified terephthalic acid (PTA) market between 2023 and 2027

  • Precise estimation of the size of the purified terephthalic acid (PTA) market and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the purified terephthalic acid (PTA) market across APAC, North America, Europe, South America, and Middle East and Africa

  • A thorough analysis of the market’s competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of purified terephthalic acid (PTA) market vendors

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Purified Terephthalic Acid (PTA) Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 8.46{5e37bb13eee9fcae577c356a6edbd948fa817adb745f8ff03ff00bd2962a045d}

Market growth 2023-2027

USD 45.16 billion

Market structure

Fragmented

YoY growth 2022-2023 ({5e37bb13eee9fcae577c356a6edbd948fa817adb745f8ff03ff00bd2962a045d})

7.98

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 52{5e37bb13eee9fcae577c356a6edbd948fa817adb745f8ff03ff00bd2962a045d}

Key countries

US, China, South Korea, Taiwan, and India

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Alfa Chemistry, Alpek SAB de CV, Arkema Group, BP Plc, China Petrochemical Corp., Colossustex, Eastman Chemical Co., Indian Oil Corp. Ltd., Indorama Ventures Public Co. Ltd., INEOS Group Holdings SA, Jamorin International, Johnson Matthey Plc, Lotte Chemical Corp., Mitsubishi Chemical Holdings Corp., Moradia Brothers Chem Pvt. Ltd., Reliance Industries Ltd., Samsung Electronics Co. Ltd., Saudi Basic Industries Corp., Sundyne LLC, and Taekwang Group

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of Contents :

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Vendor Landscape

11 Vendor Analysis

12 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Global Purified Terephthalic Acid (PTA) Market 2023-2027

Global Purified Terephthalic Acid (PTA) Market 2023-2027

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