Purified Terephthalic Acid (PTA) Market Supply Chain, Analysis to 2030

Purified terephthalic acid (PTA) is a crucial element in manufacturing man-made fibers. Around 70-80% of polyester products are made up of purified terephthalic acid. Purified terephthalic acid is a cost effective alternative to dimethyl terephthalate (DMT), PTA has been a commonplace in the textile and packaging sectors. Moreover, PTA is finding application in healthcare sector for treating peptic ulcer, reflux esophagitis and gastroesophageal reflux disease (GERD).

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Purified Terephthalic Acid (PTA) Market – Growth Trends

Growing textile industry and high adoption of polyester fibers owing to their compatibility with with other synthetic or natural fibers are driving the market for purified terephthalic acid. China is the largest textile exporter and is anticipated to grow rapidly over coming years; currently the country holds 38% share of the global textile industry. High utilization of polyester films in photographic films, data storage tapes and sheet material is anticipated to surge demand for PTA.

Gaping forward, purified terephthalic acid are widely used in manufacturing carbonated plastic bottles. According to the Guardian, about a million plastic bottles are produce in single minute, and this production is fixed to show double digit growth over next 20 years.

Purified Terephthalic Acid (PTA) Market – Growth Restraints

Fluctuating prices crude oil (paraxylene) are setting forth huge challenges for PTA market players. Alerted by rising ecological burden, governments across the globe are imposing bans on purified terephthalic acid which, in turn, is paving way for alternatives such as bio-based PET. Furthermore, PTA is poisonous in nature, causing slight eye and skin irritation upon contact.

Impact of COVID-19 on Purified Terephthalic Acid (PTA) Market

The global economy is witnessing deepest recession after WW2 due to COVID-19 pandemic, and its effect is apparent across the global purified terephthalic acid market as well. Due to halt in export and import from various countries, demand for textile has reduced, and manufacturers are forced to curtail production or shut down their production units. According to just-style, about 80% of textile industries in Africa have faced downfall during the pandemic. Moreover, majority of market players are dependent on China for raw materials.

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Purified Terephthalic Acid (PTA) Market Regional Analysis

Asia Pacific (APAC) continues to hold leading share in purified terephthalic acid market. China is the largest manufacturer and exporter of PTA in the world. Additionally, APAC is the largest textile consumer, especially polyester fabric and yarn. Growing at a CAGR of around 5%, the APAC textile is poised to register revenues worth US$ 520 by 2024. Further, surging sales of apparels through online platforms is anticipated to provide remunerative opportunities for PTA manufacturers.

Region

• North America (U.S., Canada)
• Latin America (Mexico, Brazil)
• Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
• East Asia (China, Japan, South Korea)
• South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
• Oceania (Australia, New Zealand)
• Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

Purified Terephthalic Acid (PTA) Market – Segmentation

Purified terephthalic acid market is segmented on the basis of following,