Purified Terephthalic Acid (PTA) Market Size, Demand, Share Analysis, Growth Report 2032

Purified Terephthalic Acid (PTA) Market: Industry Perspective

The global purified terephthalic acid (PTA) market size was worth around USD 62.06 billion in 2023 and is predicted to grow to around USD 97.94 billion by 2032 with a compound annual growth rate (CAGR) of roughly 5.20% between 2024 and 2032.

Request Free Sample

Purified Terephthalic Acid (PTA) Market Overview

Purified terephthalic acid or PTA is a crystalline organic compound with a slight acidic odor. PTA boasts of several beneficial properties, such as good chemical and stain resistance, excellent weathering and hardness, flexibility, and glass transition temperature range, among others. PTA is a raw material used for making high-performance plastics, such as polyethylene terephthalate or PET and polybutyl terephthalate or PBT. It is also used as a raw material to manufacture polyester, for making plastic bottles and clothing. PTA is produced by the reaction between paraxylene or PX and acetic acid.

Purified Terephthalic Acid (PTA) Market Growth Dynamics

The purified terephthalic acid (PTA) market is likely to record notable growth in the forecast time period, due to the increasing demand for unsaturated polyester resins, polyester powder coating resins and polyethylene terephthalate for fiberglass-reinforced plastic. The growing demand for polyethylene terephthalate is likely to positively impact the purified terephthalic acid (PTA) market globally. However, volatile crude oil prices are likely to affect the purified terephthalic acid market growth globally. Additionally, stringent government regulations are estimated to negatively influence the use of bio-based PET, thereby, hindering the purified terephthalic acid (PTA) market. The rising construction activities in both developed and developing nations have increased use of paints and coatings, which is likely to boost the purified terephthalic acid (PTA) market demand. Furthermore, the surge in the popularity of PET bottles instead of glass bottles for beverages is predicted to fuel the purified terephthalic acid (PTA) market in the upcoming years.

Request Free Sample

The report covers forecast and analysis for the purified terephthalic acid (PTA) market on a global, and regional level. The study provides historical information for 2018 to 2022 with a forecast from 2024 to 2032 based on both volume (Kilotons) and revenue (USD Billion). The complete study covers the key drivers and restraints for the purified terephthalic acid (PTA) market. It also provides the impact of the market within the forecast period. Furthermore, the study also includes the opportunities accessible within the purified terephthalic acid (PTA) market on a global level.

In order to offer the users of this report, a comprehensive read on the purified terephthalic acid (PTA) market, we have enclosed the detailed value chain analysis. To know the competitive landscape within the market, an analysis of Porter’s Five Forces model for the purified terephthalic acid (PTA) market has additionally been enclosed within the study. The study includes a market attractiveness analysis, where all the segments are benchmarked to support their market size, rate, and general attractiveness.

Purified Terephthalic Acid (PTA) Market: Report Scope

Purified Terephthalic Acid (PTA) Market Segmentation Analysis

The study also includes the market share of the key participants operating in the purified terephthalic acid (PTA) market across the globe. Besides, the report covered strategic development together with acquisitions & mergers, agreements, partnerships, collaborations, and joint ventures, and regional growth of key players within the market on a regional basis.

The purified terephthalic acid (PTA) market is segmented on the basis of application, which includes: polyester, polybutylene terephthalate, plasticizers, industrial machinery, powder coatings, and insulation materials. Increasing usage of purified terephthalic acid-based polyester fiber due to its high chemical and wrinkle resistance, quick drying, and high strength has resulted in the growth of the purified terephthalic acid (PTA) market. Additionally, rising government spending along with developing coating, textile, and packaging industries are further projected to boost the demand for polyester purified terephthalic acid in various applications, thereby, propelling the global purified terephthalic acid (PTA) market growth.

Regional Analysis

Geographically, the purified terephthalic acid (PTA) market is segmented into the Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Asia Pacific accounted for the largest market share during the 2023 and is likely to continue its dominance in the purified terephthalic acid (PTA) market for the next few years. This regional market witnessed a high demand for PTA or purified terephthalic acid, due to the growing demand for PET material bottles along with the increased application of PET from the bottling and packaging industries. Growing chemical industries in the developing countries of Asia Pacific, such as China and India, are further expected to fuel the demand for purified terephthalic acid, which is used to produce several chemical intermediates, such as cyclohexane dimethanol, polytrimethylene terephthalate, and liquid crystal polymers.

The regional classification includes Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. The regions are further segmented on the basis of countries, which include the UK, the U.S., China, Japan, France, Canada, Italy, and Brazil, among others. 

Purified Terephthalic Acid (PTA) Market: Competitive Analysis

The global purified terephthalic acid (PTA) market is dominated by players like:

• Reliance Industries Limited
• Amoco Chemicals
• The Dow Chemical Company
• Alpek S.A.B. de C.V.
• Eastman Chemical Company
• SABIC
• Synthetic Fiber Co. Ltd.
• The E. I. du Pont de Nemours and Company
• BP plc
• Mitsubishi Chemical Corporation
• Indian Oil Corporation Ltd.
• China Petroleum & Chemical Corporation

This report segments the global purified terephthalic acid (PTA) market as follows:

Global Purified Terephthalic Acid (PTA) Market: Application Analysis

• Polyester
• Polybutylene Terephthalate
• Plasticizers
• Industrial Machinery
• Powder Coatings 
• Insulation Materials

Global Purified Terephthalic Acid (PTA) Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa