According to ChemAnalyst report, “Global Purified terephthalic acid (PTA) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032”, The Purified terephthalic acid (PTA) market is expected to grow significantly, reaching approximately 120 million tonnes in 2032 at an excellent CAGR of 4.09%.
Purified terephthalic acid (PTA) is a white solid organic molecule chemical formula C₆H₄(CO₂H)₂. The industrial preparation of PTA begins with an aqueous solution of crude terephthalic acid, hydrogenated to remove impurities before being crystallized to create a slurry of purified terephthalic acid in an aqueous solution. This process is followed by an integrated separation washing process using a centrifuge with washing capabilities. PTA is a versatile chemical used to manufacture a wide array of plasticizers and polymers such as polyethylene terephthalate, polybutylene terephthalate (PBT), terephthaloyl chloride, liquid crystal polymer, etc. Other applications of PTA are the production of polyester coating resins for a variety of uses, including coil coats, electronics, vehicles, and the industrial sector. PTA also finds application in the textile sector for the production of polyester fibers.

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The major driver of global Purified terephthalic acid (PTA) is its usage as a feedstock chemical to manufacture Polyester Fibre. Polyester fibres display excellent properties like high elasticity, water-resistance, wrinkle resistance, and abrasion resistance. Owing to their properties, these fibres are employed in various downstream industries such as car tyre reinforcements, water-proof fabrics, raincoats, and conveyor belts. Polyester fibres are easy to blend with natural fibres which are further employed to manufacture sportswear items. The PTA market is expected to expand in the upcoming years due to the expansion of fibres and yarn and the improvement of lifestyles worldwide. Moreover, PET resins which are heavily used to manufacture packing materials are rising from sectors like food and beverage, consumer products, and others, further fuels the demand for PTA in the forecast period.

Region wise, Asia Pacific has emerged to be the largest consumer of Purified terephthalic acid (PTA) followed by North America and Europe. PET-based containers, sheets, and films are extensively employed for food & beverage packaging coupled with the rapidly flourishing textile industry in countries like India, China, and Japan is anticipated to increase in these regions owing to rapid industrialization in the APAC region. Moreover, the requirement for polyester-based coatings is anticipated to further fuel the demand for PTA in this region. Moreover, as of 2022. APAC also leads as the global producer of PTA with China being the manufacturing giant.

Based on the end-use, the global Purified terephthalic acid (PTA) market is segregated into Polyester Fibre and Yarn, PET Resin, Polyester Film, and Others. As of 2022, the Polyester Fibre industry is dominating the PTA market with a consumption of around 60%. Additionally, PET Resin is the second largest consumer of PTA owing to its wide array of uses to manufacture packaging purposes, bottles, containers, shopping bags, and microwave containers.

Read Full Report Here: https://www.chemanalyst.com/industry-report/purified-terephthalic-acid-market-752

“Global Purified terephthalic acid (PTA) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032”, the significant players functional in the Global Purified terephthalic acid (PTA) are Reliance Industries Limited, Indorama Ventures, BP Chemicals, Indian Oil Corporation Limited, MCPI Private Limited, Oman International Petrochemical Industries Company’s (OMPET), SABIC Ibn Rushd Arabia Industrial Fiber Company, Shahid Tondgooyan Petrochemical Company, Yisheng Petrochemical, Hengli Petrochemical, Hanwha General Chemicals, Lotte Chemical, Fuhaichuang Petrochemicals, and BP Zhuhai Chemical.

“Being linked to the downstream application such as fibres, paints, coatings, polymers, and films, the global Purified terephthalic acid (PTA) Industry has shown a robust growth alongside growing industrial activities. Purified terephthalic acid is majorly consumed by the textile industry for manufacturing polyester fibers, that majorly contributes to the growing demand of Purified terephthalic acid (PTA). Asia Pacific is the leading consumer of PTA and owing to the rising demand for polyester fibers and PET resins for usage in various downstream industries in the forecasted period, it is expected that there will be an increase in the demand of Purified terephthalic acid (PTA) over the coming years” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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