DUBLIN--(BUSINESS WIRE)--The "Terephthalic Acid Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The terephthalic acid market is expected to register a CAGR of around 5%, during the forecast period.
Companies Mentioned
- Arkema
- BP PLC
- China Petroleum & Chemical Corporation
- Eastman Chemical Company
- Formosa Petrochemical Co.
- Indian Oil Corporation Ltd
- Indorama Ventures Public Company Limited
- Lotte Chemical Corporation
- Mitsubishi Chemical Corporation
- Mitsui Chemicals Europe GmbH
- PetroChina Company Limited
- Reliance Industries Limited
- SABIC
- Samyang Holdings Corporation
Key Market Trends
Increasing Demand from Polyester Fibers
- Purified Terephthalic Acid (PTA) is used to manufacture polyester coatings resins for use in the formulation of general metal, appliance, automotive, industrial maintenance, and coil coatings.
- The primary application for PTA is in polyester powder coating resins.
- Polyester fibers made up of PTA (Purified Terephthalic Acid), blends with natural and other synthetic fibers.
- Polyester fibres are used for various applications such as to make fabrics for apparel and home furnishings such as bed sheets, bedspreads, curtains and draperies.
- They are also combined together with natural fibres such as cotton to produce a cloth with improved properties such as wrinkle resistance.
- In Asia, the growth in terephthalic acid consumption has been driven due to strong polyester fibre demand, which is the largest segment accounting for nearly two-thirds of global polyester demand.
- Such growth in polyester fibers is expected to drive the market for Terephthalic Acid during the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific accounted for the highest share, with over 40%, in the terephthalic acid market.
- The growth of various industries, such as food and beverage, packaging, and textile manufacturing, in China and India are likely to fuel the market growth, during the forecast period.
- Increasing sales volume of apparel goods and clothing, through e-commerce portals in the Asia-Pacific countries, is also expected to create immense potential for the market. Additionally, Asia-Pacific is the largest consumer of yarn and fiber.
- The rise in demand for yarn from the textile industry and increase in consumption of PET bottles are anticipated to influence the growth of the terephthalic acid market in the region.
- China is the largest manufacturer of terephthalic acid in the region. Rapid urbanization and increasing penetration of the packaged food industry are driving the market growth in the country.
- Thus, owing to the aforementioned factors, the demand for terephthalic acid is increasing in this region.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Significant Demand from the Textile Industry in Asia-Pacific
4.1.2 Increasing Consumption of Packaging Material
4.1.3 Growing Demand for PBT in Electrical Applications
4.2 Restraints
4.2.1 Toxic Effects of Terephthalic Acid
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.5 Feedstock Analysis
4.6 Technological Snapshot
4.7 Trade Analysis
4.8 Regulatory Policy Analysis
5 MARKET SEGMENTATION
5.1 Derivative
5.2 Application
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Advancement in Production Technology
For more information about this report visit https://www.researchandmarkets.com/r/7d67j7
