Purified Terephthalic Acid (PTA) Market Competitive Analysis, Emerging Trends and Demand Forecast up to 2023

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Purified Terephthalic Acid (PTA) Market Research
Report - Forecast to 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Purified Terephthalic Acid (PTA) Market Research
Report- Forecast to 2023
Purified Terephthalic Acid (PTA) Market - Overview
Purified Terephthalic Acid (PTA) comes in a white
physical form, crystalline powder and inert in
nature. PTA is an aromatic acid, majorly used in
the production of polyester fibers and films. The
main raw material for PTA is paraxylene (PX). PTA
is commercially produced by oxidation of PX to
form Terephthalic Acid (TA) which is then
purified to form PTA. It exhibits properties such
as, insulation, resistance to chemicals and
weathering, and is used as a raw material for
chemicals such as cyclohexane di-methanol,
terephthaloyl chloride and also for
copolyester-ether elastomers and plasticizers.
As per our Analysis, some of the prominent
market factors and trends identified in the
Global Purified Terephthalic Acid Market include,
rapid industrialization where PTA is utilized in
the manufacture of conveyor belts and meshing in
many industries, rising demand for powder
coatings made from PTA which are solvent free and
environmental friendly, and increasing
expenditure on food beverages packaging where
it is used for manufacturing PET resin. Moreover,
demand for PTA is predicted to witness
significant growth over the assessment period due
to surging home furnishing industry. Rising crude
oil refining across the globe where PX is an end
product in the petroleum industry is anticipated
to be an important driver for PTA market during
the review period. PTA based polyester fibers are
used in many electrical insulation applications.
Electricity sector is at the opportunity to
rapidly accelerate momentum towards universal
energy access. As nearly one in five of the
worlds population dont have access to
electricity, it is anticipated to be key driver
for the growth of PTA in the assessment period.
Furthermore, rapid urbanization coupled with the
increasing disposable income in the emerging
economies is predicted to propel the use of
polyester fiber textiles made from PTA and is
predicted to be the driver for growth of the
market during the assessment period, 2017 to
2023. However, PET resins and fibers do not
degrade naturally in the environment at
acceptable rates but can be recyclable and thus
present litter and disposal problem. Thereby
implementation of strict regulations by various
government bodies is expected to hamper the
growth of the market.
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Purified Terephthalic Acid (PTA) Market Research
Report- Forecast to 2023
Segmental Analysis
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. Get Research Report Overview _at_
https//www.marketresearchfuture.com/reports/purif
ied-terephthalic-acid-pta-market-4885

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Purified Terephthalic Acid (PTA) Market Research
Report- Forecast to 2023
Regional Outlook
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 predicted to
grow with the highest CAGR during the review
period, 2017 to 2023 on account of expanding food
beverages packaging industry. The demand for
PET resin segment in PTA market is predicted to
be stagnant in North America, Europe and Latin
America due to the presence of high consumer
wastes PET bottles and this region is looking to
recycle the existing PET bottles waste. Asia
Pacific has emerged as the leading market region
for PTA followed by North America and Europe.
North American PTA market is predicted to witness
a tremendous growth on account of high polyester
fiber consumption potential which is used in the
industrial machinery, increasing paints
coatings production capacities, and rising
economic growth rate. In North American region,
the U.S. is predicted to be the major contributor
in the regional growth of PTA market and is
expected to see a significant demand for PTA
during the forecast period, 2017 to 2023. As of
2016, the U.S accounts for the largest market
share and is followed by Canada in terms of value
volume and is estimated to grow with the
moderate CAGR on account of growth in production
of crude oil. In Europe, the demand for PTA is
predicted to grow in various countries such as
Italy, Germany, Spain, U.K, France, and Russia on
account of increasing expenditure in home
furnishing where PTA based polyester fabrics are
used to manufacture furnishing cloth and growing
purchasing power of consumers. Moreover, presence
of major automobile manufacturers and expanding
automobile industry in this region gives an
opportunity for PTA Market to grow in the
forecast period as polyester fibers are used in
the manufacture of conveyor belts and meshing.
Specifically in Germany it is expected to give a
new impetus to the market growth. Latin American
countries such as Argentina, Colombia, and Brazil
are also predicted to witness substantial growth
owing to increasing consumer spending on
passenger cars as well as involvement of new
technologies and inventions in PTA. In the Middle
East Africa, paints coatings and home
furnishings segments are anticipated to propel
the PTA Market in the forecast period owing to
rapid housing activities and along with
developments in travel and tourism industry. Asia
Pacific PTA Market is predicted to grow with the
moderate CAGR due to developing crude oil
processing and expanding petroleum refineries in
India and China bridges the demand gap for PTA
raw materials. Moreover, continuous growth of
electrical industry in various economies of Asia
Pacific such as China, India, Malaysia, Thailand,
and Japan is expected to raise the demand for
insulation materials made from PTA which in turn
is predicted to fuel the demand for PTA over the
forecast period, 2017 to 2023.
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Purified Terephthalic Acid (PTA) Market Research
Report- Forecast to 2023
Major Players in this Research

• Purified Terephthalic Acid (PTA) Market Prominent
  Players
• 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)
• Indian Oil Corporation Ltd (India)

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