Research is advancing in bio-based PTA production. With promising results, the purified terephthalic acid (PTA) market size has the potential to reach USD 18,359.40 million by 2034. The purified terephthalic acid (PTA) market size is forth as USD 11,058.60 million in 2024. The purified terephthalic acid (PTA) industry expansion is anticipated at 5.20% CAGR till 2034.
| Attributes | Details |
|---|---|
| Market Size, 2023 | USD 10,670.20 million |
| Market Size, 2024 | USD 11,058.60 million |
| Market Size, 2034 | USD 18,359.40 million |
| Value CAGR (2024 to 2034) | 5.20% |
Bio-based Feedstocks Grow More Popular in the Market
More companies are researching on the use of bio-based feedstocks instead of crude oil for making PTA. The environment being in focus nurtures with this trend because it lowers greenhouse gas emissions and reduces the need for fossil fuels.
As scientists improve these methods, it can lead to more growth in the market. Stakeholders and businesses trying to be more sustainable will likely be interested. This shows a move towards greener practices, which could mean more opportunities and better technology in the future.
Firms like Annellotech, Primus, Avantium, and Gevo in the bio-based terephthalic acid industry can help the market flourish with their innovative production methods and technologies.
Recycling Technologies are Advancing and Helping Market to Prosper
Better ways to recycle polyethylene terephthalate (PET) plastic are helping to solve the plastic waste problem. These methods, like chemical recycling and depolymerization, can fetch important materials from old plastic. More people want to reuse things, so these recycling ways are getting popular. This is making the recycling market grow and making plastic production more eco-friendly.
For example, BP launched BP Infinia, an enhanced recycling technology that enabled unrecyclable PET plastic waste to be converted into new, virgin-quality feedstocks. Less than 60% of PET used for bottles is collected for recycling. This means there is room for more innovations in this aspect.
Expansion of Regional Markets is Evident
In countries like China and India, industries like textile, packaging, and automotive are growing fast because more people are moving to cities and their income levels are improving. This means they need more PTA, which is used to make polyester and plastic bottles.
China, especially, makes and uses significant quantities of polyester and plastic, which helps the PTA market. China’s production capacity stands at 65.63 million metric tons. Thus, the PTA market is getting bigger in the Asia Pacific region.
| Segment | Polyester (Application) |
|---|---|
| Value Share (2024) | 37.80% |
The polyester segment is anticipated to lead the purified terephthalic acid (PTA) market by application in 2024. Polyester is popular because it can be used in various applications. It is cheaper to make than natural fibers like cotton and silk.
As such, it is preferred in the clothing industry. It is strong and durable. These traits make it ideal for outdoor clothing and sportswear. More people in cities and those who like trendy clothes tend to like polyester. This is causing applications in polyester to go higher in the market.
| Segment | Textile (End Use) Value |
|---|---|
| Share (2024) | 42.10% |
The textile segment is anticipated to top the market by end use in 2024. More individuals are moving to cities. They are buying more clothes and home décor items. This means there's more need for textiles like polyester, which comes from PTA.
Fashion changes quickly these days, and various textiles are needed for trendy clothes. There is also a demand for various textiles in industries for things like automotive airbags and medical implants because they are strong and durable. These things all affect how much PTA is needed and used in the textile sector.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| United States | 2.90% |
| Germany | 2.40% |
| China | 5.80% |
| India | 7.70% |
| Australia | 1.90% |
Market demand for purified terephthalic acid in the United States is line to expand at 2.90% CAGR until 2034. American companies are bringing back PTA production to the United States to be less dependent on other countries and make their supply chains stronger. They're doing this by building new PTA factories.
American manufacturers are using ethane from shale gas, which makes it cheaper to produce PTA. Companies are forming alliances to make better products and compete in the market. Also, there are rules to make sure PTA production is cleaner and safer. This encourages companies to use more eco-friendly practices.
The upcoming Corpus Christi Polymers facility in Texas will be the world's largest, producing 2.4 million tons of PTA-PET materials. Construction restarted in January 2023 and will provide around 2,500 jobs, with an additional 250 when it achieves full capacity in 2025.
The demand for PTA acid in Germany is inclined to rise at 2.40% CAGR until 2034. Manufacturers in Germany are reputed for using new technology to make PTA efficiently. They also focus on recycling PTA, which helps the environment and makes their market grow.
The country spends a lot on research to make better products and work closely with other companies and universities. Germany's location and good transportation make it easy to sell PTA to other countries. These things make Germany a leader in making PTA, attracting investment, and helping the market grow.
The PTA production sector in China is invoked to rise at 5.80% CAGR until 2034. Chinese people buy a lot of things made with PTA, like clothes and packaging, because they have more money and like convenience. Chinese vendors sell their PTA to other countries too, which helps them grow even more. By focusing on making things better and being part of global trade deals, China stays ahead in the PTA acid sector.
Hengli Petrochemical is a leading PTA producer in China. The company focuses on capacity expansion to meet the demand for the product. It focuses on vertical integration too.
Purified Terephthalic Acid (PTA) industry expansion in India is estimated at 7.70% CAGR until 2034. The population of the country is boosting at a mammoth rate. As such, more people are moving to cities and earning more money.
This means they're buying more things made with PTA, like clothes and packaging. The government wants to encourage companies to make things domestically. So, the government gives them benefits like tax breaks and subsidies.
India has easy access to the materials needed to make PTA. This makes it cheaper to produce PTA here. Indian companies are also starting to sell PTA to other countries, especially in Asia and Africa. They're also trying to make PTA in an eco-friendly way to protect the environment. All these factors are helping India's PTA market grow.
Reliance Industries Limited and Indian Oil Corporation Limited strive to meet the demand in India. These businesses use diversification in downstream petrochemicals. They focus on process optimization and invest in technology upgrades.
Market demand for purified terephthalic acid in Australia is anticipated to surge at 1.90% CAGR till 2034. Australia’s location makes it possible for companies in the country to have access to significant amounts of renewable energy, like solar and wind power, which makes making PTA cheaper and better for the environment.
Australian companies use new technology to make PTA more efficiently. Australian players trade with other countries, which helps its PTA market grow. These things make Australia a good place for making PTA.
The purified terephthalic acid (PTA) industry is extremely competitive, with significant rivals such as Indorama Ventures, BP, and Reliance Industries leading this market. Emerging rivals such as Hengli Petrochemical and Zhejiang Petrochemical are getting recognition.
Companies compete for market share by expanding their capacity, developing new technologies, and implementing sustainability measures. Regulatory compliance and regional dynamics also influence competition.
Recent Developments
Table 1: Global Market Value (US$ Million) Forecast by Region, 2019 to 2034
Table 2: Global Market Volume (Tons) Forecast by Region, 2019 to 2034
Table 3: Global Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 4: Global Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 5: Global Market Value (US$ Million) Forecast by End User, 2019 to 2034
Table 6: Global Market Volume (Tons) Forecast by End User, 2019 to 2034
Table 7: North America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 8: North America Market Volume (Tons) Forecast by Country, 2019 to 2034
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Table 11: North America Market Value (US$ Million) Forecast by End User, 2019 to 2034
Table 12: North America Market Volume (Tons) Forecast by End User, 2019 to 2034
Table 13: Latin America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 14: Latin America Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 15: Latin America Market Value (US$ Million) Forecast by Application, 2019 to 2034
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Table 17: Latin America Market Value (US$ Million) Forecast by End User, 2019 to 2034
Table 18: Latin America Market Volume (Tons) Forecast by End User, 2019 to 2034
Table 19: Western Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 20: Western Europe Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 21: Western Europe Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 22: Western Europe Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 23: Western Europe Market Value (US$ Million) Forecast by End User, 2019 to 2034
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Table 25: Eastern Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
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Table 27: Eastern Europe Market Value (US$ Million) Forecast by Application, 2019 to 2034
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Table 29: Eastern Europe Market Value (US$ Million) Forecast by End User, 2019 to 2034
Table 30: Eastern Europe Market Volume (Tons) Forecast by End User, 2019 to 2034
Table 31: South Asia and Pacific Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 32: South Asia and Pacific Market Volume (Tons) Forecast by Country, 2019 to 2034
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Table 34: South Asia and Pacific Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 35: South Asia and Pacific Market Value (US$ Million) Forecast by End User, 2019 to 2034
Table 36: South Asia and Pacific Market Volume (Tons) Forecast by End User, 2019 to 2034
Table 37: East Asia Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 38: East Asia Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 39: East Asia Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 40: East Asia Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 41: East Asia Market Value (US$ Million) Forecast by End User, 2019 to 2034
Table 42: East Asia Market Volume (Tons) Forecast by End User, 2019 to 2034
Table 43: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 44: Middle East and Africa Market Volume (Tons) Forecast by Country, 2019 to 2034
Table 45: Middle East and Africa Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 46: Middle East and Africa Market Volume (Tons) Forecast by Application, 2019 to 2034
Table 47: Middle East and Africa Market Value (US$ Million) Forecast by End User, 2019 to 2034
Table 48: Middle East and Africa Market Volume (Tons) Forecast by End User, 2019 to 2034
Figure 1: Global Market Value (US$ Million) by Application, 2024 to 2034
Figure 2: Global Market Value (US$ Million) by End User, 2024 to 2034
Figure 3: Global Market Value (US$ Million) by Region, 2024 to 2034
Figure 4: Global Market Value (US$ Million) Analysis by Region, 2019 to 2034
Figure 5: Global Market Volume (Tons) Analysis by Region, 2019 to 2034
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2024 to 2034
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2024 to 2034
Figure 8: Global Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 9: Global Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 10: Global Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 11: Global Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 12: Global Market Value (US$ Million) Analysis by End User, 2019 to 2034
Figure 13: Global Market Volume (Tons) Analysis by End User, 2019 to 2034
Figure 14: Global Market Value Share (%) and BPS Analysis by End User, 2024 to 2034
Figure 15: Global Market Y-o-Y Growth (%) Projections by End User, 2024 to 2034
Figure 16: Global Market Attractiveness by Application, 2024 to 2034
Figure 17: Global Market Attractiveness by End User, 2024 to 2034
Figure 18: Global Market Attractiveness by Region, 2024 to 2034
Figure 19: North America Market Value (US$ Million) by Application, 2024 to 2034
Figure 20: North America Market Value (US$ Million) by End User, 2024 to 2034
Figure 21: North America Market Value (US$ Million) by Country, 2024 to 2034
Figure 22: North America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 23: North America Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 26: North America Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 27: North America Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 28: North America Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 29: North America Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 30: North America Market Value (US$ Million) Analysis by End User, 2019 to 2034
Figure 31: North America Market Volume (Tons) Analysis by End User, 2019 to 2034
Figure 32: North America Market Value Share (%) and BPS Analysis by End User, 2024 to 2034
Figure 33: North America Market Y-o-Y Growth (%) Projections by End User, 2024 to 2034
Figure 34: North America Market Attractiveness by Application, 2024 to 2034
Figure 35: North America Market Attractiveness by End User, 2024 to 2034
Figure 36: North America Market Attractiveness by Country, 2024 to 2034
Figure 37: Latin America Market Value (US$ Million) by Application, 2024 to 2034
Figure 38: Latin America Market Value (US$ Million) by End User, 2024 to 2034
Figure 39: Latin America Market Value (US$ Million) by Country, 2024 to 2034
Figure 40: Latin America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 41: Latin America Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 44: Latin America Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 45: Latin America Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 48: Latin America Market Value (US$ Million) Analysis by End User, 2019 to 2034
Figure 49: Latin America Market Volume (Tons) Analysis by End User, 2019 to 2034
Figure 50: Latin America Market Value Share (%) and BPS Analysis by End User, 2024 to 2034
Figure 51: Latin America Market Y-o-Y Growth (%) Projections by End User, 2024 to 2034
Figure 52: Latin America Market Attractiveness by Application, 2024 to 2034
Figure 53: Latin America Market Attractiveness by End User, 2024 to 2034
Figure 54: Latin America Market Attractiveness by Country, 2024 to 2034
Figure 55: Western Europe Market Value (US$ Million) by Application, 2024 to 2034
Figure 56: Western Europe Market Value (US$ Million) by End User, 2024 to 2034
Figure 57: Western Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 58: Western Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 59: Western Europe Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 60: Western Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 61: Western Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 62: Western Europe Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 63: Western Europe Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 64: Western Europe Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 65: Western Europe Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 66: Western Europe Market Value (US$ Million) Analysis by End User, 2019 to 2034
Figure 67: Western Europe Market Volume (Tons) Analysis by End User, 2019 to 2034
Figure 68: Western Europe Market Value Share (%) and BPS Analysis by End User, 2024 to 2034
Figure 69: Western Europe Market Y-o-Y Growth (%) Projections by End User, 2024 to 2034
Figure 70: Western Europe Market Attractiveness by Application, 2024 to 2034
Figure 71: Western Europe Market Attractiveness by End User, 2024 to 2034
Figure 72: Western Europe Market Attractiveness by Country, 2024 to 2034
Figure 73: Eastern Europe Market Value (US$ Million) by Application, 2024 to 2034
Figure 74: Eastern Europe Market Value (US$ Million) by End User, 2024 to 2034
Figure 75: Eastern Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 76: Eastern Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 77: Eastern Europe Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 78: Eastern Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 79: Eastern Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 80: Eastern Europe Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 81: Eastern Europe Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 82: Eastern Europe Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 83: Eastern Europe Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 84: Eastern Europe Market Value (US$ Million) Analysis by End User, 2019 to 2034
Figure 85: Eastern Europe Market Volume (Tons) Analysis by End User, 2019 to 2034
Figure 86: Eastern Europe Market Value Share (%) and BPS Analysis by End User, 2024 to 2034
Figure 87: Eastern Europe Market Y-o-Y Growth (%) Projections by End User, 2024 to 2034
Figure 88: Eastern Europe Market Attractiveness by Application, 2024 to 2034
Figure 89: Eastern Europe Market Attractiveness by End User, 2024 to 2034
Figure 90: Eastern Europe Market Attractiveness by Country, 2024 to 2034
Figure 91: South Asia and Pacific Market Value (US$ Million) by Application, 2024 to 2034
Figure 92: South Asia and Pacific Market Value (US$ Million) by End User, 2024 to 2034
Figure 93: South Asia and Pacific Market Value (US$ Million) by Country, 2024 to 2034
Figure 94: South Asia and Pacific Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 95: South Asia and Pacific Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 96: South Asia and Pacific Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 97: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 98: South Asia and Pacific Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 99: South Asia and Pacific Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 100: South Asia and Pacific Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 101: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 102: South Asia and Pacific Market Value (US$ Million) Analysis by End User, 2019 to 2034
Figure 103: South Asia and Pacific Market Volume (Tons) Analysis by End User, 2019 to 2034
Figure 104: South Asia and Pacific Market Value Share (%) and BPS Analysis by End User, 2024 to 2034
Figure 105: South Asia and Pacific Market Y-o-Y Growth (%) Projections by End User, 2024 to 2034
Figure 106: South Asia and Pacific Market Attractiveness by Application, 2024 to 2034
Figure 107: South Asia and Pacific Market Attractiveness by End User, 2024 to 2034
Figure 108: South Asia and Pacific Market Attractiveness by Country, 2024 to 2034
Figure 109: East Asia Market Value (US$ Million) by Application, 2024 to 2034
Figure 110: East Asia Market Value (US$ Million) by End User, 2024 to 2034
Figure 111: East Asia Market Value (US$ Million) by Country, 2024 to 2034
Figure 112: East Asia Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 113: East Asia Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 114: East Asia Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 115: East Asia Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 116: East Asia Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 117: East Asia Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 118: East Asia Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 119: East Asia Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 120: East Asia Market Value (US$ Million) Analysis by End User, 2019 to 2034
Figure 121: East Asia Market Volume (Tons) Analysis by End User, 2019 to 2034
Figure 122: East Asia Market Value Share (%) and BPS Analysis by End User, 2024 to 2034
Figure 123: East Asia Market Y-o-Y Growth (%) Projections by End User, 2024 to 2034
Figure 124: East Asia Market Attractiveness by Application, 2024 to 2034
Figure 125: East Asia Market Attractiveness by End User, 2024 to 2034
Figure 126: East Asia Market Attractiveness by Country, 2024 to 2034
Figure 127: Middle East and Africa Market Value (US$ Million) by Application, 2024 to 2034
Figure 128: Middle East and Africa Market Value (US$ Million) by End User, 2024 to 2034
Figure 129: Middle East and Africa Market Value (US$ Million) by Country, 2024 to 2034
Figure 130: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 131: Middle East and Africa Market Volume (Tons) Analysis by Country, 2019 to 2034
Figure 132: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 133: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 134: Middle East and Africa Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 135: Middle East and Africa Market Volume (Tons) Analysis by Application, 2019 to 2034
Figure 136: Middle East and Africa Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 137: Middle East and Africa Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 138: Middle East and Africa Market Value (US$ Million) Analysis by End User, 2019 to 2034
Figure 139: Middle East and Africa Market Volume (Tons) Analysis by End User, 2019 to 2034
Figure 140: Middle East and Africa Market Value Share (%) and BPS Analysis by End User, 2024 to 2034
Figure 141: Middle East and Africa Market Y-o-Y Growth (%) Projections by End User, 2024 to 2034
Figure 142: Middle East and Africa Market Attractiveness by Application, 2024 to 2034
Figure 143: Middle East and Africa Market Attractiveness by End User, 2024 to 2034
Figure 144: Middle East and Africa Market Attractiveness by Country, 2024 to 2034
The purified terephthalic acid industry is in line to be valued at USD 11,058.60 million in 2024.
The market size is estimated to increase at 5.20% CAGR through 2034.
The market is expected to be worth USD 18,359.40 million by 2034.
Textile end use is highly preferred in the market.
The market in India is predicted to expand at 7.70% CAGR through 2034.
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Purified Terephthalic Acid (PTA) Market
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