Global Purified Terephthalic Acid (PTA) Market, By Application (Polyester, Polybutylene Terephthalate, Plasticizers), End-Use Industry (Textile, Home furnishing, Bottling and Packaging, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights Global Purified Terephthalic Acid (PTA) Market
The purified terephthalic acid (PTA) market is expected to witness market growth at a rate of 4.69% in the forecast period of 2022 to 2029. Data Bridge Market Research report on purified terephthalic acid (PTA) market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for the product for various industrial applications is escalating the growth of purified terephthalic acid (PTA) market.
Purified terephthalic acid (PTA) refers to a substance that is utilized in the manufacturing of polyester-coated resins for automotive components, coil coatings, industrial repair and general metal processing. The substance is used in coating of the parts of the automobile in the industry. The major benefits of purified terephthalic acid (PTA) include removing dirt, clay, and some oily stains form the surface.
The increase in demand for polyester fibers across the globe acts as one of the major factors driving the growth of purified terephthalic acid (PTA) market. The use in the development of PET material bottles, polyester resigns, and yarn amongst other commodities, and high demand for PET from the bottling and packaging industry accelerate the market growth. The increase in the demand for PET resins as it is used as an ingredient in beverage bottling, and food packaging, and rise in popularity of the product owning to its lightweight and waterproof characteristics further influence the market. Additionally, surge in investment, stringent regulations, rapid urbanization, and rise in demand for recyclable and sustainable products positively affect the purified terephthalic acid (PTA) market. Furthermore, rise in replacement of glass bottles for alcoholic beverages with PET bottles extends profitable opportunities to the market players in the forecast period of 2022 to 2029.
On the other hand, fluctuation in the prices of paraxylene and stringent regulations are expected to obstruct the market growth. The increase in demand for recycled PET is projected to challenge the purified terephthalic acid (PTA) market in the forecast period of 2022-2029.
This purified terephthalic acid (PTA) market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on purified terephthalic acid (PTA) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Purified Terephthalic Acid (PTA) Market Scope and Market Size
The purified terephthalic acid (PTA) market is segmented on the basis of application and end-user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of application, the purified terephthalic acid (PTA) market is segmented into polyester, polybutylene terephthalate and plasticizers. Polyester on the basis of grade is further segmented into fiber and yarn grade, polybutylene terephthalate (PET) grade and film grade.
- On the basis of end-user, the purified terephthalic acid (PTA) market is segmented into textile, home furnishing, bottling and packaging, and others.
Purified Terephthalic Acid (PTA) Market Country Level Analysis
The purified terephthalic acid (PTA) market is analyzed and market size, volume information is provided by country, application and end-user as referenced above.
The countries covered in the global purified terephthalic acid (PTA) market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the purified terephthalic acid (PTA) market due to the growth in food and beverages, packaging, and construction sectors within the region. Europe is expected to be the fastest growing market during the forecast period of 2022 to 2029 because of the increase in penetration of the packaged food industry in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Purified Terephthalic Acid (PTA) Market Share Analysis
The purified terephthalic acid (PTA) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to purified terephthalic acid (PTA) market.
Some of the major players operating in the purified terephthalic acid (PTA) market report are BP p.l.c., JIANGYIN CHENGXING INDUSTRIAL GROUP CO., LTD., PennWell Corporation, JBF Industries Ltd., Yatirim24.com, China Petrochemical Corporation., Indorama Ventures Public Company Limited., SABIC, Alpek S.A.B. de C.V, Indian Oil Corporation Ltd., LOTTE Chemical CORPORATION, Energi Mega Persada Tbk, Shahid Tondgooyan Petrochemical Co., Oriental Petrochemical (Taiwan) Co., Ltd., Petkim Petrokimya Holding A.S., MCPI PRIVATE LIMITED, TAEKWAANG INDUSTRIAL CO., LTD., and Zhejiang Hengyi Group Co., among others.
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