The global market for Purified Terephthalic Acid was valued at US$68.4 Billion in 2024 and is projected to reach US$96.9 Billion by 2030, growing at a CAGR of 6% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Technological advancements have significantly improved the production efficiency and environmental impact of PTA. Innovations in oxidation and purification processes have led to more efficient methods of converting para-xylene into high-purity PTA, reducing energy consumption and waste generation. The development of catalysts and process optimization techniques has further enhanced the yield and quality of PTA, making production more cost-effective and sustainable. Additionally, the integration of digital technologies and automation in PTA production facilities has streamlined operations, improved process control, and minimized downtime. These technological improvements have not only bolstered the competitiveness of PTA producers but have also supported the growing demand for sustainable and high-performance polyester products.
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.
Global Purified Terephthalic Acid Market - Key Trends and Drivers Summarized
Purified terephthalic acid (PTA) is a key raw material used primarily in the production of polyethylene terephthalate (PET), which is widely used in the manufacture of plastic bottles, polyester fibers, and resins. PTA is synthesized through the oxidation of para-xylene, followed by purification processes to achieve a high level of purity. The primary application of PTA is in the textile and packaging industries, where it serves as an essential component in the creation of polyester fibers and PET plastics. Polyester fibers are extensively used in the textile industry to produce fabrics for clothing, home furnishings, and industrial applications. PET plastics, known for their strength, flexibility, and recyclability, are predominantly used for packaging beverages, food products, and other consumer goods.Technological advancements have significantly improved the production efficiency and environmental impact of PTA. Innovations in oxidation and purification processes have led to more efficient methods of converting para-xylene into high-purity PTA, reducing energy consumption and waste generation. The development of catalysts and process optimization techniques has further enhanced the yield and quality of PTA, making production more cost-effective and sustainable. Additionally, the integration of digital technologies and automation in PTA production facilities has streamlined operations, improved process control, and minimized downtime. These technological improvements have not only bolstered the competitiveness of PTA producers but have also supported the growing demand for sustainable and high-performance polyester products.
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.
Report Scope
The report analyzes the Purified Terephthalic Acid market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.Segments
Application (Polyester, Polybutylene Terephthalate (PBT), Plasticizers, Other Applications).Geographic Regions/Countries
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.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 6.7%. The Polybutylene Terephthalate (PBT) Application segment is also set to grow at 5.7% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $17.7 Billion in 2024, and China, forecasted to grow at an impressive 9.2% CAGR to reach $22.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 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), China Prosperity (Jiangyin) Petrochemical Co., Ltd., Eastman Chemical Company and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
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?
Some of the 53 major companies featured in this Purified Terephthalic Acid market report include:
- 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 (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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 | February 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 68.4 Billion |
| Forecasted Market Value ( USD | $ 96.9 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
