According to a report, “Purified Terephthalic Acid (PTA) Market Analysis By Application (PET Resins, Polyester Fiber, Films), By End-use (Textile, Bottling & Packaging, Home Furnishing), By Region, And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc., The global purified terephthalic acid (PTA) market is expected to reach USD 110.66 billion by 2025, Growing consumption of the product owing to its superior properties including excellent weathering, good chemical and stain resistance, good hardness, flexibility and glass transition temperature range is projected to propel industry expansion. Rising consumption of the product in home furnishing and bottling is expected to stimulate industry growth.
Increasing demand for the PTA films in construction and commercial industries owing its superior tensile strength, good dimensional stability, high optical clarity, less moisture absorption, and excellent electrical properties is expected to spur industry size.
Key Takeaways from the report:
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PET resins is expected to show high revenue gains at a CAGR of 8.0% from 2017 to 2025 Rising consumption of PET containers in packaging sodas, water, juices, liquid hand soap, salad dressings, cooking oil, peanut butter, shampoo, mouthwash, pharmaceuticals, and tennis balls is expected to augment industry expansion.
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Asia Pacific was the dominant market and accounted for 41.2% of the global purified terephthalic acid (PTA) revenue industry in 2016. Establishment of various food & beverage, packaging, and textile manufacturing units particularly in China and India will fuel purified terephthalic acid market growth over the forecast period.
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Increasing sales volume of clothing and apparel goods through e-commerce portals in China, Bangladesh, India and Thailand is expected to create immense industry potential. Furthermore, regulatory support aimed at promoting investments in packaging sector in China and India is projected to propel industry growth.
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Presence of major players including Reliance, IOCL, Sinopec, Tianjin Petrochemical Co., Ltd. and Xiamen Xianglu Petrochemical Co. in Asia Pacific is expected to augment industry expansion over the forecast period.
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Key players include Sinopec Yizheng Chemical Fibre Company, Reliance Industries Limited, DuPont, Honam Petrochemical Corporation, BP, Eastman Chemical Company, Indian Oil Corporation, Formosa Plastics Group, and SABIC.
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In April 2015, Reliance Industries Limited (RIL) announced commissioning of new purified terephthalic acid (PTA) plant having a capacity of 1,150 kilo tons per annum at Dahej, Gujarat in order to meet increasing demand for the product.
U.S. purified terephthalic acid (PTA) market by application, 2014 – 2025 (Kilo Tons)
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Formaldehyde Market: Growth in furniture and construction industry along with increasing concentration in Asia Pacific is expected to be a key driver for the market over the next six years. Fluctuating raw material prices coupled with the increasing consumer awareness regarding harmful effects of formaldehyde is expected to be a major challenge for the market over the forecast period.
Global purified terephthalic acid (PTA) market volume by end-use, 2016 (%)
Polyester fiber was the dominant segment and accounted 63.2% of the overall volume share in 2016 and is expected to witness substantial growth as a result of increasing usage in apparel, carpets, carpets, curtains, nets, and ropes. Rising demand for polyester in textile owing to its high tenacity and durability will augment industry expansion over the forecast period.
Grand View Research has segmented the global purified terephthalic acid (PTA) market on the basis of application, end-use and region:
Purified Terephthalic Acid Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
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PET resins
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Polyester fiber
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Films
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Others
Purified Terephthalic Acid End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
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Textile
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Bottling & packaging
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Home furnishing
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Others
Purified Terephthalic Acid Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
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North America
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U.S.
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Europe
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Germany
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Asia Pacific
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China
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India
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Central & South America
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Brazil
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- Middle East & Africa
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