Global Purified Terephthalic Acid Market Competitive Landscape, Top Market Segments, And Fastest Growing Regions
9 May, 2023
The global purified terephthalic acid market size is expected to grow from $47.11 billion in 2022 to $50.13 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The purified terephthalic acid market size is expected to reach $62.11 billion in 2027 at a CAGR of 5.5%.
Global Purified Terephthalic Acid Market Key Driver
The increase in demand for polyester fibers is expected to propel the purified terephthalic acid market growth going forward. Polyester fibers refer to synthetic fiber that consists of polyester and is derived from ethylene glycol and terephthalic acid and blended with other fibers. Purified terephthalic acid is a commodity chemical that plays an important role in the manufacturing of polyester fiber and polyethylene terephthalate (PET) resin, both of which are found in many consumer products, thus increasing demand for polyester fibers increases the demand for the purified terephthalic acid market.
Get a Sample of the global purified terephthalic acid market reportGlobal Purified Terephthalic Acid Market Segments
The global purified terephthalic acid market is segmented:
1) By Manufacturing Process: Amoco Process, Co-Oxidation, Multistage Oxidation, Henkel Process
2) By Application: Polyester, Polybutylene Terephthalate (PBT), Plasticizers, Other Applications
3) By End User: Textile, PET Bottles, Packaging, Other End Users
4) By Geography: The regions covered in the purified terephthalic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global purified terephthalic acid market.
Major Purified Terephthalic Acid Industry Players
Indian Oil Corporation, Alpek S.A.B. de C.V., British Petroleum PLC, Reliance Industries Limited, Saudi Basic Industries Corporation, Sinopec Corporation, Jiaxing Petrochemical Co., PennWell Corporation, JBF Industries Ltd.
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Purified Terephthalic Acid Market Overview
Purified terephthalic acid refers to an organic chemical compound that is high melting and white powder formed by the air oxidation of p-xylene. This is primarily used to manufacture saturated polyesters and associated polymer goods.
Purified Terephthalic Acid Global Market Report 2023 provides data on the global purified terephthalic acid market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The purified terephthalic acid market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.