Purified Terephthalic Acid (PTA) Market Overview
Purified terephthalic acid (PTA) is derived in a white physical form or crystalline powder and is inert in nature. PTA is aromatic in nature with significant use in the production of polyester fibers and films. The primary raw ingredient for purified terephthalic acid (PTA) is paraxylene. It is commercially produced through the oxidation of PX to form terephthalic acid (TA), which is then purified to derive purified terephthalic acid (PTA). Purified terephthalic acid has the properties of resistance to chemicals and weathering and insulation. It is widely used as a raw material for various chemicals such as cyclohexane di-methanol, terephthaloyl chloride, copolyesterether elastomers, and plasticizers.
MRFR, in their latest analysis, the global purified terephthalic acid industry is driven by various factors through the forecast period. Some of the factors contributing to the positive ascension observed in the global PTA market include rapid industrialization with PTA’s application in the manufacture of conveyor belts and meshing in several industries and a mounting demand for powder coatings made from purified terephthalic acid which are solvent free and environment friendly.
Purified Terephthalic Acid (PTA) Market Segmentation
The purified terephthalic acid (PTA) market trends, as per MRFR report, is segmented on the basis of application, end-use industries, and region. Based on application, the global PTA market is segmented into polyester fiber, polyester films, pet resin, powder coatings, industrial machinery, and insulation materials. Based on end-use industry, the global purified terephthalic acid market is segmented into paints & coatings, food & beverages, textiles, electrical, and furniture.
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Purified Terephthalic Acid (PTA) Market Regional Analysis
The global COVID-19 analysis on purified terephthalic acid market report is regionally segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. Among these segments, the Middle East & Africa segment is anticipated to grow at the highest CAGR the global purified terephthalic acid (PTA) market through the forecast period. Such growth can be attributed to the rapidly growing food & beverages industry in the region.
Asia Pacific is assessed to emerge as a market leader for purified terephthalic acid through the forecast period. The APAC is trailed by North America and then Europe, both regions garnering second and third highest shares in the PTA market, respectively. North America is anticipated to exhibit tremendous growth due to a high polyester fiber consumption potential in the region. Such a high polyester consumption is a result of the increasing use of the same in industrial machinery, snowballing paints & coatings production capacities, and a rising economic growth rate. The U.S. is likely to be one of the most significant contributors in the regional growth of the purified terephthalic acid market during the forecast period.
Purified Terephthalic Acid (PTA) Market Key Players
Some of the noteworthy players in the purified terephthalic acid market, as profiled by MRFR, include Alpek S.A.B. de C.V. (Mexico), Reliance Industries Limited (India), BP p.l.c. (U.K), The Dow Chemical Company (U.S.), Mitsubishi Chemical Corporation (Japan), E. I. du Pont de Nemours and Company (U.S.), China Petroleum & Chemical Corporation (China), Eastman Chemical Company (U.S.), SABIC (Saudi Arabia), and Indian Oil Corporation Ltd (India).
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