Global Purified Terephthalic Acid Market was valued at US$ 49.2 Bn in 2017, and is expected to reach US$ 73.8 Bn by 2026, at a CAGR of 5.2 % during forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Purified Terephthalic Acid market dynamics, structure by identifying and analyzing the market segments and project the global market size.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Purified Terephthalic Acid market.
Rising demand for polyester fibers, and Increasing demand for PET from the bottling and packaging industry are major driving factors behind the growth of the global purified terephthalic acid market. However, fluctuation in the prices of paraxylene which is the raw material used as manufacture for the terephthalic acid hindered the growth of the market. Further, increasing demand for recycled PET will be the major challenge for the growth for the global purified terephthalic acid market.
Purified terephthalic acid is used as a raw material in the production of high-performance multipurpose plastics like polybutylene terephthalate (PBT), polyethylene terephthalate (PET), polytrimethylene terephthalate (PTT) and even forms of bioplastics.It also finds its immense usage in the production of polyester fibers in the global market. They are used to manufacture polyester coating resins for manufacturing general metal, automotive, appliances, industrial maintenance even coil coatings.
Based on application, the polyester segment is expected to augment its demand over the forecast period.The polyester application segment has been classified into fiber & yarn grade, Polyethylene Terephthalate (PET) grade, and film gradeon the basis of the grade.Polyethylene Terephthalate materials manufactured using Purified terephthalic acidare used for packaging of several food & beverages items, such as mineral water bottles, soft drink bottles, and ready-to-eat food items. The increased consumption of processed food items and beverages in emerging countries is projected to drive the demand for Purified terephthalic acidin the Polyethylene Terephthalate grade segment.
Some growth factors such as growing per capita consumption in emerging regions such as China and significant growth of the textile industry is expected to boost the demand for the Purified terephthalic acid market.
Fluctuatingcrude oil which is required to produce PTA is expected to affect profitability of PTA manufacturers thereby impacting the growth of the market. Beer and other alcoholic beverage industries as well as household product containers are still dominated by the glass industry, which could be anew market for PTA consumption thereby, providing new opportunities for the growth of the market.
Geographically, Asia Pacific was the largest consumer for purified terephthalic acid, followed by North America and Europe. Future market growth is expected to be from Asia Pacific as well owing to the improving living standards and cross-country usage of PTA products.
Scope of the Purified Terephthalic Acid Market
Global Purified Terephthalic Acid Market, by Application
• Polyester
• Polybutylene Terephthalate
• Plasticizers
Global Purified Terephthalic Acid Market, by End Use
• Textile
• Bottling & Packaging
• Home Furnishing
• Others
Global Purified Terephthalic Acid Market, by Region
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
Key Players operating in the Global Purified Terephthalic Acid Market
• British Petroleum
• Reliance Industries Limited
• Sinopec Corporation
• Indorama Ventures Public Company
• SABIC
• Alpek
• Eastman Chemical Company
• Indian Oil Corporation
• Lotte Chemical Corporation
• Mitsubishi Chemical Corporation
• PetkimPetrokimya Holding A.ª.
• JBF Petrochemicals
• MCPI
• Jiaxing Petrochemical Co., Ltd. (JPCL)
Global Purified Terephthalic Acid (PTA) Market Request For View Sample Report Page : @ https://www.maximizemarketresearch.com/request-sample/29017
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