Global purified terephthalic acid (PTA) market is anticipated to grow at a considerable CAGR of 5.4% during the forecast period (2024-2031). The increasing demand for polyester fibers in the textile industries and the growing consumption of the downstream product polyethylene terephthalate (PET) from the packaging sector is driving the demand of the global PTA market. To meet the growing PTA demand, in April 2024, Sinopec started the production at the world’s largest PTA project. The PTA plant is also one of the most complex facilities in petrochemical industry. Sinopec has adopted short-process, smart-manufacturing and green production technologies to lead the industrial pack.With a production capacity of 3 million tons per year, the project aims to better meet people's evolving needs in areas such as clothing, food, housing, transportation, and environmental health.
Browse the full report description of “Purified Terephthalic Acid (PTA) Market Size, Share & Trends Analysis Report by Type (Polyester, Fiber & Yarn Grade, Polybutylene terephthalate (PET) Grade, Film Grade, Polybutylene Terephthalate (PBT), Plasticizers and Others), and by Application (Textile, PET Bottles, Packaging and Others) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/purified-terephthalic-acid-market
Further, in October 2023, GAIL Mangalore petrochemicals plant to be commissioned by March 2025. GAIL acquired 1.25 MMTPA PTA plant of JBF Petrochemical Ltd. and has renamed as GAIL Mangalore Petrochemicals Ltd., which is a wholly-owned subsidiary of GAIL.
Furthermore, in August 2022, Reliance Industries has invested in polyester capacity expansion. This investment has done for the expansion in the polyester value chain over the next five years. This is one of the world’s largest single-train PTA (purified terephthalic acid) plant of 3 MMTPA capacity at Dahejand has also invested in a 1 MMTPA PET plant at Dahej. Both PTA and PET will be targeted for completion by 2026.
Market Coverage
• The market number available for – 2023-203
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Mitsubishi Chemical Corp., Reliance Industries Ltd., Samsung Petrochemical Co. Ltd., Indorama Ventures Public Company Ltd., BP PLC among others.
Key questions addressed by the report.
Global Purified Terephthalic Acid (PTA) Market Report Segment
By Type
By Application
Global Purified Terephthalic Acid (PTA) Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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