Authored By: Sarah
11 Jul 2024

 Purified Terephthalic Acid (PTA) Market to grow by USD 16.88 billion between 2024-2028

According to a research report “ Purified Terephthalic Acid (PTA) Market” by Application (Polyester fibre, PET resins, Films, Others) End-user (Textile, PET bottles, Packaging) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 16.88 billion at a CAGR of  5% during the forecast period. In the dynamic business landscape of the packaging industry, Purified Terephthalic Acid (PTA) plays a pivotal role. With packaging being the leading end-user segment, accounting for significant market share, PTA's demand is on an upward trajectory. Product packaging is a crucial marketing tool, influencing consumer decisions through its design, color, and content information. Beyond mere product identification, packaging offers essential benefits such as protection, portability, and reusability..

Browse market data tables, figures, and in-depth TOC on “Purified Terephthalic Acid (PTA) Market” by Application (Polyester fibre, PET resins, Films, Others) End-user (Textile, PET bottles, Packaging) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028.

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By Application, the Polyester fibre segment is projected to dominate the market size in 2024.

In the textile industry, Purified Terephthalic Acid (PTA) plays a pivotal role as a raw material for producing high-demand polyester fibers. These fibers, derived from PTA, offer cost-efficiency, flexibility, and superior mechanical properties, making them indispensable for clothing, home furnishing, and industrial textiles. The resulting garments and textiles exhibit durability, ease of maintenance, and enhanced properties through fiber blending, such as stretchability, moisture wicking, and fire resistance. Consumers' preference for these attributes significantly boosts the PTA market demand.

By End-user, Textile  segment is expected to hold the largest market size for the year 2024.

In the PTA market's downstream product segment, polyester fibers dominated with a significant market share in 2023. Their prevalence is attributed to several business-driven advantages. Firstly, polyester fibers offer a consistent supply, free from pestilence, poor crop yields, and weather events that can impact natural fibers like cotton. Secondly, their cost position is favorable due to their abundant availability. Lastly, their superior performance characteristics set them apart from competing materials. These factors collectively contribute to polyester fibers' leading role in the PTA market, with the textile industry's increasing demand and the growing trend to decrease reliance on natural fabrics further bolstering their market presence.

APAC is forecasted to hold the largest market size by region in 2024.

The APAC region, spearheaded by China, India, Japan, and South Korea, holds a significant position in the global Purified Terephthalic Acid (PTA) market. In 2023, China emerged as the largest consumer of PTA, fueled by expansion in sectors like renewables, consumer electronics, and organized retail, which in turn propels the packaging industry. A key market driver is the surge in construction activities, as exemplified by Sunway Healthcare's USD70 million investment in the Sunway Medical Centre Penang, marking their first hospital outside Klang Valley, Malaysia.

The Purified Terephthalic Acid (PTA) Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Alfa Chemistry
  • Alfa Corporativo S.A. de C.V.
  • Arkema Group
  • BP Plc
  • China Petrochemical Corp.
  • Colossustex
  • Eastman Chemical Co.
  • Indian Oil Corp. Ltd.
  • Indorama Ventures Public Co. Ltd.
  • INEOS Group Holdings SA
  • Jamorin International
  • Johnson Matthey Plc
  • Lotte Chemical Corp.
  • MCPI
  • Mitsubishi Chemical Group Corp.
  • Petkim Petrokimya Holding AS
  • Reliance Industries Ltd.
  • Saudi Basic Industries Corp.
  • Sundyne LLC
  • Taekwang Group
.

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Research Analysis Overview

In the textile industry, Purified Terephthalic Acid (PTA) plays a crucial role in the production of Polyethylene Terephthalate (PET), a synthetic fabric/textile widely used in various downstream sectors. PTA is essential in the terephthalic acid contract process, which forms the backbone of PET polymerization. The upholstery and automotive textiles industries highly value PET for its moisture resistance, durability, and quick drying ability. In the apparel industry, PET fibers offer washability and contribute to the production of sustainable and eco-friendly garments. Textile chemicals and production techniques are continually evolving to meet the demands of health and environmental concerns. PTA, as a raw material, undergoes rigorous purification processes to ensure its safe and sustainable use. The downstream packaging industry also benefits significantly from PET, with applications ranging from food and beverage containers to industrial packaging. The international labor organization recognizes the importance of the automotive and home furnishing industries, which heavily rely on PET and PTA for their textile needs. In summary, the PTA market plays a vital role in the global textile industry, enabling the production of high-performance, sustainable, and versatile textiles for various applications.

Market Research Overview

The Purified Terephthalic Acid (PTA) market plays a significant role in the textile and downstream packaging industries. PTA is a crucial raw material for the production of Polyester fibers, which are extensively used in various applications such as automotive seat covers, upholstery, apparel, and home furnishings. In the automotive sector, PTA-derived polyester fibers exhibit excellent abrasion resistance, heat resistance, and UV radiation resistance, making them ideal for use in headliners, side panels, seat belts, and airbags. In the textile industry, PTA is used to produce Polyethylene Terephthalate (PET), a long-chain polymer that forms the backbone of synthetic fabrics and textiles. The textile chemicals derived from PTA contribute to the production techniques used in dyeing, enhancing the washability, quick drying ability, durability, resilience, strength, and moisture resistance of textiles. The downstream sectors, including the packaging industry and e-commerce, also benefit from PTA. PTA-derived polyesters are used in paint and coatings, fibers for textile, and recovery processes. The financials of textile industries and the automobile production sector are significantly influenced by the availability and cost of PTA. The International Labour Organization recognizes the importance of the automotive textiles and home furnishing sectors, which rely on PTA for their growth.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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