Who are the global producers of Purified Terephthalic Acid?
The level of production of PTA saw a continuous increase because of its rising demand. There were a lot of factors that influenced this demand such as growing industrialization, increased demand in food and beverage industries, textile industries, packaging industries, construction sectors; and the paint and coating market.
The global production of Purified Terephthalic Acid (PTA) is more than 61.2 million tons. In recent years there has been a significant increase in the production of PTA in Asia-Pacific regions. Among the Asian regions, India and China are the main production and consumption regions of PTA. This is because of the large number of industries manufacturing polyester fiber, construction materials, electronic items, packaging materials, etc. Asia Pacific region is itself contributing to more than 51.06 million tons to the global production of PTA.
There has been a lot of competition in the global production market for PTA. A few of the global production leaders of PTA are Yisheng, Heng Li, Reliance Industries Ltd, Indorama and BP. These companies produce around 7 billion tons to 13.2 billion tons of PTA annually.
Talking about the market shares China alone holds the largest share of around 57%. This is mainly due to growing demand from industries like construction, textile, beverages & packaging, etc. Excluding China, Asia holds around 20% of the global market share of PTA mainly in countries like India and Singapore. Other regions include North America, Europe, and Middle East Africa depending on the Packing industries and industries manufacturing PET bottles.