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Purified Terephthalic Acid (PTA) Market Forecast 2022-27 : Industry Size, Trends, Share, Growth

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.

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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.

Note: 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.

Global Purified Terephthalic Acid (PTA) Trends

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

Purified Terephthalic Acid (PTA) Market Report Scope
Report CoverageDetails
Market size value in 2021US$ 82.3 Billion
Market forecast in 2027US$ 112.96 Billion
Growth RateCAGR of 5.25% from 2022 to 2027
Base year for estimation2021
Historical data2016-2021
Forecast period2022-2027
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments coveredApplication and End User
Regional scopeNorth America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Key companies profiledAlpek 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
Market DynamicsParent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
Customization purviewIf our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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

By End User:

  • Textile
  • Bottling and Packaging
  • Home Furnishing
  • Others

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Breakup By Geography:

  • 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.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

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Kate

Kate Johnson is a content writer, who has worked for various websites and has a keen interest in Forex and stock market. He is also a college graduate who has a B.A in Journalism.

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