With the growing demand for polyester specifically in China, the market for purified terephthalic is likely to see expansion in the coming years. Furthermore, the country is emerging as a global textile manufacturing hub with low-cost labor further driving the growth of the purified terephthalic acid market. Polyethylene terephthalate which acts as a successor to PTA is also expected to make an impact on the PTA market in accordance to its end-user industries.
Asia Pacific was the largest consumer for purified terephthalic acid, followed by North America and Europe. Future market growth is expected to be from Asia Pacific as well owing to the improving living standards as well as cross-country usage of PTA products.
Several growth factors such as growing per capita consumption in emerging regions such as China and significant growth of the textile industry is expected to boost the demand for the PTA market. However, fluctuating prices in energy sources such as crude oil required to produce PTA is expected to affect profitability of PTA manufacturers thereby impacting the growth of the market. Beer and other alcoholic beverage industries as well as household product containers are still dominated by the glass industry, which could be an unexplored market for PTA consumption thereby, providing new opportunities for the growth of the market.
Alfa, S.A.B. de C.V., CPC Corporation, Far Eastern Group, Honam Petrochemical Corporation, Indian Oil Corporation Limited, Mitsubishi Chemical Corporation, Mitsubishi Gas Chemical Co. Inc., Reliance Industries Ltd., Samyang Chemical Co., Ltd. and Saudi Basic Industries Corporation are some of major producers of purified terephthalic acid dominating the market.
Purified terephthalic acid (PTA) is a chemical which is synthesized from crude oil. It is majorly used to manufacture polyester fiber. Its end-user industries include textile and home furnishing where PTA is required to manufacture garments such as bed sheets, curtains and clothes.
Denim Deal, an initiative to promote circular practices in denim production, is working toward expanding textile recycling efforts in India…
Natural Fiber Welding (NFW), based in Peoria, Illinois, has introduced Pliant footwear outsoles made entirely from bio-based natural rubber.
Inspired by racquet sports, Pangaia has introduced a new collection that focuses on movement, material innovation, and modern dressing.
Karl Mayer has officially launched its Textile Innovation Center (TIC), marking an important step toward advancing global textile innovation and…
Polartec, a brand under Miliken & Co., has launched Standard Issue, a new pre-dyed option available in black for its…
GFA has introduced the GFA Policy Matrix: Asia, a new resource that outlines sustainability policies across eight major textile-producing countries…