The main types of terephthalic acid include purified terephthalic acid (PTA) and dimethyl terephthalate (DMT). Among these, PTA dominates the market due to its direct application in PET production. PTA has strong chemical stability and high reactivity, enabling the formation of high-strength, chemically resistant, and transparent polyester materials, making it an ideal raw material for high-performance polyesters.
In the industry value chain, the upstream sector for terephthalic acid mainly involves the petrochemical industry, especially the production of paraxylene, typically conducted by refineries and petrochemical companies. The downstream sectors primarily consist of manufacturers of polyester fiber products and PET plastic products which are widely used in the textile industry, packaging industry, electronics, electrical appliances, and automotive manufacturing as reported by the publisher.
According to the publisher, leading global producers of terephthalic acid include Sinopec, Hyosung Corporation, and Mitsubishi Chemical Holdings.
With Vietnam's economic development and industrialization, the downstream industries of terephthalic acid, such as plastics and textiles, are rapidly growing, leading to an increasing demand for PET in the market, thereby expanding the market size for terephthalic acid in Vietnam.
Supported by government policies and the shift in the global supply chain, Vietnam has emerged as a major production hub for plastic products, clothing, and footwear, with strong demand in both domestic and overseas markets. The publisher suggests that due to Vietnam's ongoing economic and population growth, improvements in industrial infrastructure, and increasing foreign investment, the plastic and textile industries in Vietnam are expected to maintain steady growth. Thus, the demand for terephthalic acid in Vietnam would continue to rise.
However, due to the relatively underdeveloped local chemical industry basis in Vietnam, lacking necessary industrial infrastructure, technology, and equipment, the cost-effectiveness of large-scale production of such products remains low. As a result, Vietnam's terephthalic acid market primarily relies on imported products to satisfy its demand.
The publisher data indicates that in 2023, Vietnam's terephthalic acid imports amounted to nearly USD 700 million. In the first half of 2024, Vietnam's cumulative terephthalic acid imports reached around USD 450 million, and this growth rate is expected to be maintained in the coming years.
The publisher analyzes that between 2021 and 2024, the primary sources of Vietnam's terephthalic acid imports were Taiwan, China, Hong Kong, and Thailand, with key exporters to Vietnam including Golden Steed Global Investments Ltd, Oriental Petrochemical (Taiwan) Co., Ltd, and Formosa Chemicals & Fibre Corp.
Major importers of terephthalic acid in Vietnam are companies and distributors in the petrochemical, plastic, and textile industries. The analysis by the publisher points out that these enterprises are mainly foreign-funded companies, such as Billion Industrial (Vietnam) Co., Ltd, Far Eastern Polytex (Vietnam) Ltd, and Formosa Industries Corporation.
The publisher forecasts that as Vietnam's economy develops, per capita income levels increase, the consumer goods market expands, and the relevant manufacturing sectors progress, the demand for terephthalic acid in Vietnam is expected to continue growing. Given the limited local production capacity, Vietnam's terephthalic acid import volume is predicted to keep rising in the coming years.
Topics covered:
- The Import and Export of Terephthalic Acid in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Terephthalic Acid in Vietnam (2021-2024)
- Total Import Value and Percentage Change of Terephthalic Acid in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Terephthalic Acid in Vietnam (January-June 2024)
- Total Import Value and Percentage Change of Terephthalic Acid in Vietnam (January-June 2024)
- Average Import Price of Terephthalic Acid in Vietnam (2021-2024)
- Top 10 Sources of Terephthalic Acid Imports in Vietnam and Their Supply Volume
- Top 10 Suppliers in the Import Market of Terephthalic Acid in Vietnam and Their Supply Volume
- Top 10 Importers of Terephthalic Acid in Vietnam and Their Import Volume
- How to Find Distributors and End Users of Terephthalic Acid in Vietnam
- How Foreign Enterprises Enter the Terephthalic Acid Market of Vietnam
- Forecast for the Import of Terephthalic Acid in Vietnam (2024-2033)
Table of Contents
Companies Mentioned
- Golden Steed Global Investments Ltd.
- Oriental Petrochemical (Taiwan) Co. Ltd.
- Formosa Chemicals & Fibre Corp
- Billion Industrial (Vietnam) Co. Ltd.
- Far Eastern Polytex (Vietnam) Ltd.
- Formosa Industries Corporation
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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