DUBLIN--(BUSINESS WIRE)--The "Purified Terephthalic Acid (PTA) Market by Application (Polyester, Polybutylene Terephthalate, Plasticizers), and Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The purified terephthalic acid market is estimated to be USD 48.14 billion in 2018 and is projected to reach USD 61.78 billion by 2023, at a CAGR of 5.1% from 2018 to 2023.
The expansion of the textile industry contributes to the increased demand for polyester fiber & yarn, which in turn, is projected to drive the growth of the purified terephthalic acid market. PTA is used to manufacture PET bottles. The rising demand for PET packaging from the healthcare and food & beverage industries has led to the increased consumption of PTA. However, the overcapacity in the production of PTA in China has led to a decline in the global operating rate of PTA, thereby acting as a restraint to the growth of the purified terephthalic acid market.
PTA is used to manufacture polyester, Polybutylene Terephthalate (PBT), and plasticizers. Based on application, the polyester segment is expected to grow at the highest CAGR during the forecast period, owing to the rising demand for polyester fiber & yarn from emerging economies, such as Brazil and Argentina.
China is the largest market for purified terephthalic acid in the Asia Pacific region, in terms of value. Key factors driving the growth of the China PTA market are increase in demand for fiber & yarn, rapid urbanization, and expansion of the packaged food industry in this country.
The South American region is expected to be the fastest-growing market for purified terephthalic acid during the forecast period. The growth of the purified terephthalic acid market in South America can be attributed to the increased demand for PTA from the textile industry in South American countries.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 PTA Market, By Application
7 PTA Market, By Region
8 Competitive Landscape
9 Company Profiles
- British Petroleum
- China Prosperity (Jiangyin) Petrochemical Co. Ltd.,
- Eastman Chemical Company
- Hanwha General Chemical Co., Ltd.
- Hengli Petrochemical Co., Ltd.
- Indian Oil Corporation
- Indorama Ventures Public Company
- JBF Petrochemicals
- Jiaxing Petrochemical Co., Ltd. (JPCL)
- Lotte Chemical Corporation
- Mitsubishi Chemical Corporation
- Oriental Petrochemical (Shanghai) Corporation
- Oriental Petrochemical (Taiwan)
- Other Leading Players
- Petkim Petrokimya Holding A..
- PKN Orlen S.A.
- PT Energi Mega Persada (EMP)
- Reliance Industries Limited
- Shahid Tondgooyan Petrochemical Company (STPC)
- Sinopec Corporation
- Taekwang Industrial Co., Ltd.
- Zhejiang Hengyi Group Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/p7rdt6/global_purified?w=4