Purified Terephthalic Acid (PTA) Market - Rising demand from Food & Beverages Packaging will boost the growth of the Global Market

Pune, India, December 4, 2017, /MRFR Press Release/- Market Research Future Published a Half-Cooked Research Report on Global Purified Terephthalic Acid (PTA) Market

Purified Terephthalic Acid (PTA) is inert in nature, physically it is available in the form of a white crystalline powder. PTA is importantly used in the manufacture of polyester fibers and films. The raw material for PTA is paraxylene (PX). Commercial production route is by oxidation of PX to form terephthalic acid (TA) and later it is purified to produce PTA. The properties such as good electrical properties, insulation, resistant to chemicals and also resistant to harsh climate conditions. Major factors contributing to the growth of the Global Purified Terephthalic Acid Market include increase in industrialization where PTA is used in the production of conveyor belts and meshing which are essential raw materials and other related materials in various industries, rising necessity for powder coatings produced from PTA which are solvent free and environmental friendly, and rising expenditure on food & beverages packaging where Purified Terephthalic Acid serves as a raw material to produce polyethylene terephthalate resin (PET).

In addition, interest for PTA is anticipated to witness critical development over the appraisal time frame because of surging home furnishing industry. Increasing crude oil petroleum refining over the globe where PX is an end product in the oil business is expected to be an important driver for PTA Market amid the forecast time frame. PTA based polyester fibers are utilized as a part of numerous electrical protection applications. Electricity industry is at the chance to quickly increase the electricity reach over the globe, since almost one out of five people don't have power, is foreseen to be a key driver for the development of PTA in the evaluation time frame. Besides, fast urbanization combined with increasing disposable incomes in developing economies is anticipated to move the utilization of polyester fiber materials produced using PTA which is anticipated to be the driver for development of the market amid the appraisal time frame, 2022 - 2030.

Competitive Analysis:

Some of the prominent players operating in the Global PTA Market are Reliance Industries Limited (India), Alpek S.A.B. de C.V. (Mexico), The Dow Chemical Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), BP p.l.c. (U.K), Eastman Chemical Company (U.S.), SABIC (Saudi Arabia), China Petroleum & Chemical Corporation (China), Mitsubishi Chemical Corporation (Japan), and Indian Oil Corporation Ltd (India) among others.

Market Segmentation:

The Global PTA Market is categorized on the basis of application, end use industry, and region. On the basis of application, the market is bifurcated into polyester fiber, polyester films, pet resin, industrial machinery, powder coatings, insulation materials and others. On the basis of end use industry, the PTA market is categorized into food & beverages packaging, paints & coatings, textiles, electrical, and furniture. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Regional Analysis

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The Global PTA Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, the Middle East & Africa is anticipated to increase with the highest CAGR during the forecast time frame, 2022 - 2030 owing to expanding food & beverages packaging industry. The demand for PET resin segment in PTA Market is anticipated to be moderate in North America, Europe and Latin America due to the presence of high consumer wastes PET bottles which, this region looking to recycle which is anticipated to be a major roadblock in the market growth.

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