The global purified terephthalic acid market size is expected
to reach USD 110.66 billion by 2025, according to a new report by Grand View
Research, Inc. Rising demand for purified terephthalic acid (PTA) in polyester
powder coating resins, PET resins and unsaturated polyester resins for
fiberglass-reinforced plastic is expected to augment industry expansion over
the forecast period.
Growing consumption of the product owing to
its superior properties including excellent weathering, good chemical and stain
resistance, good hardness, flexibility and glass transition temperature range
is projected to propel industry expansion. Rising consumption of the product in
home furnishing and bottling is expected to stimulate industry growth.
The purified terepthalic
acid market share is anticipated to enlarge in the coming years as the demand
for synthetic fibers is likely to augment the market growth in the forthcoming
years. In addition, there has been a huge demand for polyester films for their
storage and size properties in the recent years. Moreover, the rising use of polyester
fibre is likely to drive a high demand in the following years
Rising demand from the
paints and coatings industry seems to propel the industry demand as the market
witnessed a surge in industrial use of unsaturated polyester resin. For
instance, increase in the use of PTA based polyester fibers for its high
chemical properties and strength
The food & beverages industry and
pharmaceutical industry is expected to witness a huge surge in the demand for
unsaturated polyester resin (UPR) owing to eco-friendly characteristics and
effectiveness. UPR offers high resistance towards chemical corrosion, heat, and
abrasion. Therefore, it is widely used in the construction industry
For full research report on Purified
Terephthalic Acid Market visit here: https://www.grandviewresearch.com/industry-analysis/purified-terephthalic-acid-market
Further key
findings from the report suggest:
- PET resins is expected to show high revenue
gains at a CAGR of 8.0% from 2017 to 2025 Rising consumption of PET containers
in packaging sodas, water, juices, liquid hand soap, salad dressings,
cooking oil, peanut butter, shampoo, mouthwash, pharmaceuticals, and
tennis balls is expected to augment industry expansion.
- Asia Pacific was the dominant market and
accounted for 41.2% of the global purified terephthalic acid (PTA) revenue
industry in 2016. Establishment of various food & beverage, packaging,
and textile manufacturing units particularly in China and India will fuel
purified terephthalic acid market growth over the forecast period.
- Increasing sales volume of clothing and
apparel goods through e-commerce portals in China, Bangladesh, India and
Thailand is expected to create immense industry potential. Furthermore,
regulatory support aimed at promoting investments in packaging sector in
China and India is projected to propel industry growth.
- Presence of major players including Reliance,
IOCL, Sinopec, Tianjin Petrochemical Co., Ltd. and Xiamen Xianglu
Petrochemical Co. in Asia Pacific is expected to augment industry
expansion over the forecast period.
- Key players include Sinopec Yizheng Chemical
Fibre Company, Reliance Industries Limited, DuPont, Honam Petrochemical
Corporation, BP, Eastman Chemical Company, Indian Oil Corporation, Formosa
Plastics Group, and SABIC.
- In April 2015, Reliance Industries Limited
(RIL) announced commissioning of new purified terephthalic acid (PTA)
plant having a capacity of 1,150 kilo tons per annum at Dahej, Gujarat in
order to meet increasing demand for the product.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/purified-terephthalic-acid-market/request/rs1
Grand
View Research has segmented the global purified terephthalic acid market on the
basis of application, end-use and region:
Purified
Terephthalic Acid Application Outlook (Volume, Kilo Tons; Revenue, USD Million,
2014 - 2025)
- PET resins
- Polyester fiber
- Films
- Others
Purified
Terephthalic Acid End-use Outlook (Volume, Kilo Tons; Revenue, USD Million,
2014 - 2025)
- Textile
- Bottling &
packaging
- Home furnishing
- Others
Purified
Terephthalic Acid Regional Outlook (Volume, Kilo Tons; Revenue, USD Million,
2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- Asia Pacific
- China
- India
- Central & South
America
- Brazil
- Middle East &
Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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