Purified Terephthalic Acid (PTA) Market Set to Soar at a 5.2% CAGR, Fueled by Growing Demand in Textiles, PET Bottles, and Packaging
DUBLIN, Sept. 13, 2023 /PRNewswire/ — The “Purified Terephthalic Acid Market: Trends, Opportunities and Competitive Analysis (2023-2028)” report has been added to ResearchAndMarkets.com’s offering.
The global purified terephthalic acid (PTA) market is set to achieve significant milestones, with an estimated value of $79.6 billion by 2028. This growth is anticipated to be driven by a robust Compound Annual Growth Rate (CAGR) of 5.2% from 2023 to 2028.
Purified terephthalic acid, a crucial chemical compound, plays a pivotal role in the textile, PET bottle, and packaging markets. The market’s growth is underpinned by its increasing application in carbonated plastic bottles, driven by its flexibility and toughness. Additionally, rising demand for polyester fibers, along with its use in paints, coatings, textiles, and pharmaceuticals, further fuels market expansion.
Key Market Segmentation:
- Polybutylene Terephthalate (PET)
- Polybutylene Terephthalate (PBT)
- PET Bottles
- North America
- Asia Pacific
- The Rest of the World
List of Purified Terephthalic Acid Companies:
Leading companies in the purified terephthalic acid market are focused on product quality, expanding manufacturing facilities, R&D investments, infrastructural development, and integration opportunities across the value chain. Notable companies include PennWell, China Petrochemical, JBF Industries, Indian Oil, Lotte Chemical, Petkim Petrokimya, Taekwaang Industrial, Zhejiang Hengyi Group, Reliance Industries, and British Petroleum, among others.
Purified Terephthalic Acid Market Insights:
- Polyester is expected to remain the largest segment due to increasing demand for polyester fibers and its use in various sectors, including transportation, construction, and maritime.
- Textiles will continue to dominate the market, driven by population growth, changing fashion trends, and demand for polyester fibers in emerging countries like India, China, and Malaysia.
- The Asia Pacific (APAC) region will maintain its position as the largest market due to rapid industrialization, demand for PET material bottles, and increased foreign investment in paint, coating, and packaging industries.
Features of the Purified Terephthalic Acid Market:
- Market Size Estimates: Estimated market size in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2017-2022) and forecasts (2023-2028) for various segments and regions.
- Segmentation Analysis: Market size by segments, such as application, end-use industry, and region.
- Regional Analysis: Market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis of growth opportunities by application, end-use industry, and region.
- Strategic Analysis: Includes M&A, new product development, and competitive landscape.
- Competitive Intensity Analysis: Based on Porter’s Five Forces model.
For more information about this report visit https://www.researchandmarkets.com/r/dzoh9e
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Originally published at https://www.prnewswire.com/news-releases/purified-terephthalic-acid-pta-market-set-to-soar-at-a-5-2-cagr-fueled-by-growing-demand-in-textiles-pet-bottles-and-packaging-301926026.html
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