USD 61.78 Billion
Report ID:
SQMIG15E2567 |
Region:
Global |
Published Date: January, 2025
Pages:
177
|Tables:
92
|Figures:
72
Global Purified Terephthalic Acid Market size was valued at USD 61.78 Billion in 2023 and is poised to grow from USD 64.93 Billion in 2024 to USD 96.66 Billion by 2032, growing at a CAGR of 5.1% in the forecast period (2025-2032).
An increase in the use of polyester fibers due to its blending properties with other natural as well as synthetic fibers is expected to drive the demand of purified terephthalic acid during the forecast period. High usage of polyester films in photographic films, data storage tapes, and sheet material due to its toughness and dimensional stability is boosting the market growth. The increasing use of purified terephthalic acid in the making of carbonated plastic bottles due to its strength and toughness is likely to drive the growth of this industry. Furthermore, the increasing consumption of PTA based polyester fiber because of its high strength, quick-dry, and high chemical & wrinkle resistance is expected to boost the product demand during the forecast period.
The market is anticipated to be driven during the forecast period by the increasing demand of the paint and coatings industry due to its high efficacy. Furthermore, the rise in government expenditure together with growing coating, textile and packaging industries in countries like China, India, Mexico and Saudi Arabia are likely to boost market growth. The expansion of food & beverages as well as pharmaceutical packaging is also contributing to the growth of the market. The expansion is also expected to be boosted by the increasing adoption of unsaturated polyester resin (UPR) across a variety of industries such as construction, marine, transport, wind energy, and electrical, where it’s highly efficient, cost-effective, and eco-friendly.
Market snapshot - (2025-2032)
Global Market Size
USD 61.78 Billion
Largest Segment
PET Resins
Fastest Growth
Polyester Fiber
Growth Rate
5.1% CAGR
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The global purified terephthalic acid market is segmented into application, production process, end use, and region. Based on application, the market is segmented into PET resins, polyester fiber, films, and others. Based on production process, the market is segmented into paraxylene route and naphtha route. Based on end use, the market is segmented into textile, bottling & packaging, home furnishing, automotive, and others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Based on application, the PET resin segment is dominating the market with the largest purified terephthalic acid market share. Pet resin is getting widely accepted from the packaging industry because it has higher strength and stiffness than PBT, which is increasing the demand for this substance. In addition to that, the property characteristics of PET resin that are useful in textiles industries such as stability, recyclability impact & thermal resistance and some other are helping in the expansion of the market. Furthermore, the rising use of PET resin to produce door panels, car interior panels, and trims in the automobile industry has also stimulated industrial development. Moreover, the growing use of PET resin in the manufacture of packing electronic chips is expected to propel the growth of purified terephthalic acid market in the coming years.
The polyester fiber segment is expected to grow at a significant CAGR during the forecast period. The market growth was driven by the increasing use of polyester fiber for manufacturing upholstery of furniture including sofas and chairs. Furthermore, the increasing utilization of polyester fiber by the textile industries for the production of jackets, trousers, shirts, jackets and others is expected to drive the market growth. Furthermore, the intensifying use of polyester fibers in the making of optical mouse pads, car tire reinforcements, conveyor belts, bottles and a few others has fostered industrial development. Moreover, the rising use of polyester fabrics for manufacturing dielectric films, tarpaulin, and LCDs, insulating tapes, and others, coupled with its increased use in home furnishing products such as methylated spirits, are likely to increase the growth of the purified terephthalic acid market during the forecast period.
Based on end use, the textile segment is dominating the purified terephthalic acid market. As a result of societal events like parties, events, and ceremonies the popularity for designer clothes is growing thus resulting in an increased adoption for PTA. In addition, the rising demand of PTA in the textile industry for polyester staple fiber and yarn production is expected to increase the growth of the market. The demand for PTA has also risen due to growing consumption of polyester jackets and trousers and will boost the purified terephthalic market growth during the forecast past. Moreover, demand for PTA has also increased because of increasing usage of polyester jackets and trousers. In addition, the growth in the textile industries more so with increased drive by the government of various countries to promote green movements enhances market growth.
As per purified terephthalic acid market analysis, automotive segment is experiencing tremendous growth and opportunities in recent years. The increase in the segment is mainly due to the fact that they provide high performance, quality, and durability of the products, which meet the expectations of the consumers in automotive interiors. Due to consumer demands of automobiles with strong and durable components, the automotive industry has begun to integrate purified terephthalic acid-based materials in producing seat and carpet fabrics. In recent times, most consumers consider performance features including quality and durability when making decisions about vehicle purchase. Moreover, enhancement in automotive interior design, such as innovative fabrics and materials derived from PTA, offers a more comfortable and contented driving experience.
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Asia Pacific is dominating with the largest purified terephthalic acid share. The increasing urbanization and population growth within the region have expanded the needs for consumer goods like textiles and packaged foods which relies on PTA-based products like polyester fibers. The rise in purchasing power and modern lifestyle brings an increased demand for PTA products, which at the same time provides market opportunities in the region. The PTA market is also spurred by the booming industrial sector in the Asia Pacific region especially in China, India, and Japan. The region is known as the manufacturing hub, which is increasing the demand for PTA materials in various forms such as textiles, vehicles, electronic, and buildings to be in constant supply. With the continued growth and expansion of these sectors, the demand for PTA will continue to rise, increasing sales in the market.
Over the course of the projected period, it is anticipated that the purified terephthalic acid market in North America would expand with the highest growth rate. The industrial sector in North America is highly developed especially in industries of textiles, packaging, automotive, and electronics all of which are considerable users of PTA. North America has an attractive market for goods made of PTA largely because of a developed consumer market and a high standard of living and income per capita. With the favourable economic condition in the region, there is a huge demand for textiles, food and beverages packaging, household and electronics, most of which are made of PTA-based materials. There is also a rising awareness and concern for sustainability and environment among the people, which will encourage the use of PET as it is considered eco-friendly.
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Increasing Construction Activities and Infrastructure Development
Growing Requirement for Sustainable Textile Practices
High Fluctuation in Prices of Raw Materials
Growing Environmental Scrutiny and Regulatory Challenges
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The global purified terephthalic acid industry is dominated by many small and large size manufacturers which makes it highly competing in nature. Major manufacturers in the industry include Sinopec, Eastman Chemical Company, British Petroleum, Reliance and Alpek. Key players in the market are focusing on gaining competitive advantage, as well as profitability. They are doing this by forming strategic alliances with local companies and offering them technical assistance to produce PTA with a low cost of investment and conversion.
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As per SkyQuest analysis, purified terephthalic acid (PTA), a highly refined acid, is a pertinent constituent for the synthesization of Polyethylene Terephthalate (PET). It is a type of long chain polymer widely used across numerous industries. PTA is specifically prominent in the production of fibers that are required for textiles. This includes polyester fibers which have major applicability in the clothing industry, home interiors, automotive textiles, as well as e commerce. The textile industries in particular are dependent on PTA chemicals for their operations, especially the apparel industries. The textile chemicals industry uses PTA to produce polyester fibers which can withstand various forms of stresses and strains, which are highly durable and can dry quickly, can be washed, and do not absorb water and moisture. Another important end-user for PTA is the downstream packaging industry. Bottles and containers are manufactured from PET, which is made from PTA and is known for its lightweight, moisture resistant, and strong properties.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 61.78 Billion |
Market size value in 2032 | USD 96.66 Billion |
Growth Rate | 5.1% |
Base year | 2024 |
Forecast period | (2025-2032) |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Purified Terephthalic Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Purified Terephthalic Acid Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Purified Terephthalic Acid Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
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