PUBLISHER: The Business Research Company | PRODUCT CODE: 1662014
PUBLISHER: The Business Research Company | PRODUCT CODE: 1662014
Purified terephthalic acid (PTA) denotes an organic chemical compound characterized by its high melting point and white powder form, derived from the air oxidation of p-xylene. Its primary utility lies in the manufacturing of saturated polyesters and related polymer products.
The key manufacturing methods for producing purified terephthalic acid encompass the AMOCO process, co-oxidation, multistage oxidation, and the Henkel process. The AMOCO process involves the oxidation of para-xylene using a homogeneous catalyst comprised of cobalt, manganese, and bromide ions. This compound finds extensive application across various industries, including in the production of polyester, polybutylene terephthalate (PBT), plasticizers, and more. End-users employing PTA-based products span textile manufacturing, PET bottle production, packaging, and other related sectors.
The purified terephthalic acid market research report is one of a series of new reports from The Business Research Company that provides purified terephthalic acid market statistics, including purified terephthalic acid industry global market size, regional shares, competitors with a purified terephthalic acid market share, detailed purified terephthalic acid market segments, market trends and opportunities, and any further data you may need to thrive in the purified terephthalic acid industry. This purified terephthalic acid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The purified terephthalic acid market size has grown strongly in recent years. It will grow from $52.49 billion in 2024 to $55.66 billion in 2025 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to polyester fiber and pet demand, textile and apparel industry growth, packaging industry expansion, shift towards pet bottles and packaging, economic development and urbanization.
The purified terephthalic acid market size is expected to see strong growth in the next few years. It will grow to $72.8 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to shift towards green and bio-based materials, global trade and market expansion, sustainable and recyclable materials, continued economic development. Major trends in the forecast period include focus on circular economy principles, regulatory compliance and safety standards, shift towards lightweight materials, bio-based alternatives and green initiatives.
The rising demand for polyester fibers is anticipated to drive the growth of the purified terephthalic acid market in the future. Polyester fibers are synthetic fibers made from polyester, derived from ethylene glycol and terephthalic acid, often blended with other fibers. Purified terephthalic acid is a key commodity chemical used in the production of polyester fibers and polyethylene terephthalate (PET) resin, both of which are present in numerous consumer products. As the demand for polyester fibers increases, so does the demand for purified terephthalic acid. For instance, in September 2024, The Observatory of Economic Complexity, a US-based international trade data visualization platform, reported that Belgium's net value of woven fabric polyester staple fiber imports rose by €7.88k ($8.69k) (5.25%), increasing from €150k ($164k) to €158k ($176.51k). Hence, the growing demand for polyester fibers is a significant driver of the purified terephthalic acid market.
The ongoing expansion of the packaging industry is projected to significantly boost the growth of the purified terephthalic acid market. The packaging industry encompasses the design, production, and distribution of packaging materials and solutions that are used to contain, protect, and present products to consumers. Purified terephthalic acid (PTA) is a critical ingredient in producing polyethylene terephthalate (PET), a polymer extensively utilized in packaging. For example, in November 2023, data from the International Trade Administration, a US-based government agency under the Department of Commerce, indicated that the packaging industry experienced a 25% increase, growing from USD 710 million in 2021 to USD 906 million in 2022. Consequently, the expansion of the packaging industry is expected to propel the growth of the purified terephthalic acid market in the future.
Leading companies in the purified terephthalic acid market are prioritizing strategic investments to boost production capacities, enhance operational efficiencies, and foster technological innovations. These investments are aimed at fulfilling the increasing demand for purified terephthalic acid, which is being propelled by the growth of the polyester and textile industries. For instance, in April 2024, Sinopec Yizheng Chemical Fiber Company, a chemical firm based in China, launched the world's largest purified terephthalic acid (PTA) plant in Jiangsu Province. This facility features a remarkable production capacity of 3 million tons per year and is recognized as one of the most sophisticated chemical plants in the petrochemical industry. It employs advanced technologies, such as short-process and smart-manufacturing methods, to improve production efficiency and sustainability.
Key players in the purified terephthalic acid market are creating innovative products, such as eco-friendly heat-shrinkable films, to secure a competitive advantage. Eco-friendly heat-shrinkable films are packaging materials made from renewable resources and are either biodegradable or compostable. For example, in December 2022, Osaka-Gunze Limited, a clothing company from Japan, introduced an eco-friendly heat-shrinkable film called GEOPLAS HCT3. This product features a multi-layered structure of polystyrene and polyethylene terephthalate, incorporating 30% chemically recycled raw materials. The mass balance approach is utilized to ensure responsible sourcing by distributing recycled materials throughout the product. The GEOPLAS HCT3 film achieves the same shrink appearance as traditional films while reducing environmental impact, targeting applications in labels for beverages, groceries, and home and personal care products.
In June 2022, Alpek S.A.B. de C.V., a Mexico-based chemical manufacturing company, acquired OCTAL Holding SAOC for an undisclosed sum. This acquisition has fortified Alpek's position as a leading global petrochemical producer, enhancing its PET production capacity and contributing approximately $120 million in accretive EBITDA in 2022, bolstered by favorable market conditions in the polyester sector. OCTAL Holding SAOC is an Oman-based plastics manufacturing company specializing in PET sheets and resins.
Major companies operating in the purified terephthalic acid market are Indian Oil Corporation, Alpek S.A.B. de C.V., British Petroleum PLC, Reliance Industries Limited, Saudi Basic Industries Corporation, Sinopec Corporation, Jiaxing Zhonghua Chemical Co. Ltd., JBF Industries Ltd., China Petrochemical Corporation, Indorama Ventures Public Company, Lotte Chemical Corporation, Petkim Petrokimya Holding A.S, MCPI Private Limited, Taekwaang Industrial Co. Ltd., Zhejiang Hengyi Group Co., Eastman Chemical Company, Dow Chemical Company, Formosa Plastics Corporation, Far Eastern New Century Corporation, Thai Polyester Company Limited, Toray Industries Inc., Nan Ya Plastics Corporation, China National Chemical Corporation, Tongkun Group Co. Ltd., Advansa B V, Chang Chun Petrochemical Co. Ltd., Fujian Billion Petrochemicals Co. Ltd., Samyang Holdings Corporation
North America was the largest region in the purified terephthalic acid market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the purified terephthalic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the purified terephthalic acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The purified terephthalic acid market consists of sales of polyurethanes, powder-coating resins, and films. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Purified Terephthalic Acid Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on purified terephthalic acid market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for purified terephthalic acid ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The purified terephthalic acid market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.