The global purified terephthalic acid market is projected to reach $79.6 billion by 2028, at a CAGR of 5.2% during 2023-2028. The growth of purified terephthalic acid market is driven by increasing application of purified terephthalic acid in the carbonated plastic bottles owing to its flexibility and toughness, growing demand for polyester fibers and rising demand from paints and coating, textile and pharmaceutical sectors.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the purified terephthalic acid
market by application (polyester, polybutylene terephthalate (PET),
polybutylene terephthalate (PBT), plasticizers, and others), end use industry
(textiles, PET bottles, packaging, and others), and region (North America,
Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the purified terephthalic acid market?
Q.4 What are some
changing demands of customers in the purified terephthalic acid market?
Q.5 What are the new
developments in the purified terephthalic acid market? Which companies are
leading these developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this purified terephthalic acid area and
how big of a threat do they pose for loss of market share via product
substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this purified terephthalic acid
market?
Market Segmentation:
Based on application,
the purified terephthalic acid market is segmented into polyester, polybutylene
terephthalate (PET), polybutylene terephthalate (PBT), plasticizers, and
others.. The polyester segment accounted for the largest share of the market in
2023 and is expected to register the highest CAGR during the forecast period,
because of growing demand for polyester fiber and yarn in the textile yarn
industry along with increasing application of unsaturated polyester resin in
different sectors, such as transportation, construction, and maritime.
APAC will remain the
largest region over the forecast period due to rapid industrialization,
increasing demand for PET material bottles, and rising foreign investment in
the paint and coating and packaging industries in this region.
Key Players in the
purified terephthalic acid market are PennWell, China Petrochemical, JBF
Industries, Indian Oil, Lotte Chemical, Petkim Petrokimya, Taekwaang
Industrial, Zhejiang Hengyi Group, Reliance Industries, and British Petroleum.
The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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