The global market for Purified Terephthalic Acid is estimated at US$64.9 Billion in 2023 and is projected to reach US$96.9 Billion by 2030, growing at a CAGR of 5.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the purified terephthalic acid market is driven by several factors. The increasing demand for polyester fibers in the textile industry, driven by the rising popularity of synthetic fabrics and the growth of the fashion industry, has significantly boosted the need for PTA. Additionally, the expanding use of PET plastics in the packaging industry, particularly for beverages and food products, has further propelled market growth. Technological advancements in PTA production processes have enhanced efficiency and cost-effectiveness, supporting widespread adoption. The rising focus on sustainability and the circular economy has also contributed to market growth, as PTA is a crucial component in the recycling of PET plastics. Furthermore, the growing middle-class population and urbanization in emerging economies have led to increased consumption of packaged goods and textiles, driving demand for PTA. These factors, coupled with ongoing research and development efforts aimed at improving production processes and expanding applications, ensure the robust expansion and diversification of the purified terephthalic acid market.
The growth in the purified terephthalic acid market is driven by several factors. The increasing demand for polyester fibers in the textile industry, driven by the rising popularity of synthetic fabrics and the growth of the fashion industry, has significantly boosted the need for PTA. Additionally, the expanding use of PET plastics in the packaging industry, particularly for beverages and food products, has further propelled market growth. Technological advancements in PTA production processes have enhanced efficiency and cost-effectiveness, supporting widespread adoption. The rising focus on sustainability and the circular economy has also contributed to market growth, as PTA is a crucial component in the recycling of PET plastics. Furthermore, the growing middle-class population and urbanization in emerging economies have led to increased consumption of packaged goods and textiles, driving demand for PTA. These factors, coupled with ongoing research and development efforts aimed at improving production processes and expanding applications, ensure the robust expansion and diversification of the purified terephthalic acid market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Polyester Application segment, which is expected to reach US$49.5 Billion by 2030 with a CAGR of a 6.6%. The Polybutylene Terephthalate (PBT) Application segment is also set to grow at 5.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $17.0 Billion in 2023, and China, forecasted to grow at an impressive 9.1% CAGR to reach $22.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Purified Terephthalic Acid Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Purified Terephthalic Acid Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Purified Terephthalic Acid Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Alpek S.A.B. de C.V., BP PLC, China Petroleum & Chemical Corporation (SINOPEC), and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 53 Featured):
- Alpek S.A.B. de C.V.
- BP PLC
- China Petroleum & Chemical Corporation (SINOPEC)
- China Prosperity (Jiangyin) Petrochemical Co., Ltd.
- Eastman Chemical Company
- Hanwha Corporation
- Hengli Petrochemical Co
- Indian Oil Corporation Ltd.
- Indorama Ventures Public Company Limited
- LOTTE Chemical Corporation
- MCPI Private Limited
- Mitsubishi Chemical Corporation
- Oman International Petrochemical Industries Company L.L.C (OMPET)
- Oriental Petrochemical (Shanghai) Corporation
- Petkim Petrokimya Holding A.S.
- PKN ORLEN SA
- PT Energi Mega Persada Tbk
- Reliance Industries Ltd.
- SABIC (Saudi Basic Industries Corporation)
- Shahid Tondgooyan Petrochemical Company (STPC)
- Taekwang Industrial Co., Ltd.
- Zhejiang Hengyi Group Co., Ltd.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISSOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned
- Alpek S.A.B. de C.V.
- BP PLC
- China Petroleum & Chemical Corporation (SINOPEC)
- China Prosperity (Jiangyin) Petrochemical Co., Ltd.
- Eastman Chemical Company
- Hanwha Corporation
- Hengli Petrochemical Co
- Indian Oil Corporation Ltd.
- Indorama Ventures Public Company Limited
- LOTTE Chemical Corporation
- MCPI Private Limited
- Mitsubishi Chemical Corporation
- Oman International Petrochemical Industries Company L.L.C (OMPET)
- Oriental Petrochemical (Shanghai) Corporation
- Petkim Petrokimya Holding A.S.
- PKN ORLEN SA
- PT Energi Mega Persada Tbk
- Reliance Industries Ltd.
- SABIC (Saudi Basic Industries Corporation)
- Shahid Tondgooyan Petrochemical Company (STPC)
- Taekwang Industrial Co., Ltd.
- Zhejiang Hengyi Group Co., Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 289 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 64.9 Billion |
| Forecasted Market Value ( USD | $ 96.9 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 22 |
