Chemical

According to a market report by Lucintel, the future of the global purified terephthalic acid market looks promising with opportunities in the textile, PET bottle, and packaging markets. The global purified terephthalic acid market is expected to reach an estimated $79.6 billion by 2028 with a CAGR of 5.2% from 2023 to 2028. The major drivers for this market are increasing application of purified terephthalic acid in the carbonated plastic bottles owing to its flexibility and toughness, growing demand for polyester fibers and rising demand from paints and coating, textile and pharmaceutical sectors.



In this market, polyester, polybutylene terephthalate (PET), polybutylene terephthalate (PBT), and plasticizers are the different segments of purified terephthalic acid market by application. Lucintel forecasts that polyester will remain the largest segment over the forecast period because of growing demand for polyester fiber and yarn in the textile yarn industry along with increasing application of unsaturated polyester resin in different sectors, such as transportation, construction, and maritime.



Within this market, textiles will remain the largest segment due to surge in population, on-going changing fashion trend, and rising demand for polyester fibers from the textile industry in the emerging countries, such as India, China, and Malaysia, owing to high tenacity and durability properties of PTA that makes it suitable for use in the textile industry.



APAC will remain the largest region over the forecast period due to rapid industrialization, increasing demand for PET material bottles, and rising foreign investment in the paint and coating and packaging industries in this region.

PennWell, China Petrochemical, JBF Industries, Indian Oil, Lotte Chemical, Petkim Petrokimya, Taekwaang Industrial, Zhejiang Hengyi Group, Reliance Industries, and British Petroleum are the major suppliers in the global purified terephthalic acid market.  



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global purified terephthalic acid market by application, end use industry, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Purified Terephthalic Acid Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global purified terephthalic acid market by application, end use industry, and region, as follows:

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

 

Q.1. What are some of the most promising, high-growth opportunities for the global purified terephthalic acid market by application (polyester, polybutylene terephthalate (PET), polybutylene terephthalate (PBT), plasticizers, and others), end use industry (textiles, PET bottles, packaging, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?