Global Purified Terephthalic Acid Market Trends, Applications, Analysis, Growth, And Forecast: 2018 To 2027

Purified terephthalic acid (PTA) is produced by chemical synthesis of crude oil. It is majorly used in the production of polyester resins which is used in the manufacture of polyester fiber, polyethylene terephthalate (PET) resin, and polyester film.

Market Dynamics:

Rising demand for polyester fibers owing to its ability to blend with synthetic and natural fibers is a major factor expected to drive revenue growth of the global purified terephthalic acid market over the forecast period. Moreover, growing demand for purified terephthalic acid for plastic bottle production across the globe owing to toughness and flexibility is expected to drive revenue growth of target market.

However, fluctuating prices of raw materials is a major factor expected to restrain revenue growth of the purified terephthalic acid market.

Application Insights:

On the basis of application, the PET resins segment is expected to account for major revenue share in the global purified terephthalic acid market. Growing demand for soft drinks bottles and water bottles across the globe is expected to drive revenue growth of this segment. Moreover, rising adoption of packaging material produced from PET resins in packaging of fresh and ready-to-eat foods is expected to support revenue growth of this segment over the forecast period.

End-use Insights:

Among end-use, the bottling & packaging segment is expected to account major revenue share in the global market and is expected to maintain its dominance over the forecast period. Growing demand for frozen food, packaged water, baked goods container, ketchup jars, etc., is expected to support revenue growth of this segment over the forecast period.

Regional Insights:

Asia Pacific market is expected to account for significant revenue share in the global purified terephthalic acid market and is expected to maintain its dominance over the forecast period. Rapidly growing industries such as food & beverage, construction, and textile in the countries in the region are expected drive revenue growth of Asia Pacific purified terephthalic acid market over the forecast period.

Moreover, growing adoption of purified terephthalic acid in packaging in the countries such as India and China is expected to support revenue growth of purified terephthalic acid market in the region. The Asia Pacific accounts for the major revenue share of the global purified terephthalic acid market, followed by markets in North America, Europe, Latin America, and the Middle East & Africa respectively. Europe purified terephthalic acid market is expected to grow at a steady rate over the forecast period, owing to the growing textile and food & beverage industries in the region.

Market Segmentation and Key Players Operating in the Global Purified Terephthalic Acid Market:

By Application:

• PET resins
• Polyester Fiber
• Films
• Others (Plasticizers and Polybutylene Terephthalate (PBT))

By End-use:

• Textile
• Bottling & Packaging
• Home Furnishing

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa