TheMarket is segmented by Application Type (PET Resins, Polyester Fiber, and Films), by End-Use Type (Textile, Bottling & Packaging, and Home Furnishing), and by Region (North America, Europe, Asia-Pacific, and the Rest of the World).
The Market is segmented by Application Type (PET Resins, Polyester Fiber, and Films), by End-Use Type (Textile, Bottling & Packaging, and Home Furnishing), and by Region (North America, Euro...
The terephthalic acid market is estimated to grow from USD 45.05 billion in 2022 to USD 661.38 billion by 2028 at a CAGR of 5.19% during the forecast period.
Terephthalic acid is an organic compound with the chemical formula C?H?(CO?H)?. It is a white crystalline solid and belongs to the class of aromatic carboxylic acids. Terephthalic acid is an important raw material in the production of various polymers, particularly polyethylene terephthalate (PET).
PET is a widely used polymer for making plastic bottles, fibers, films, and other products. Terephthalic acid is one of the main building blocks for PET production. It is commonly produced from the oxidation of para-xylene, a derivative of crude oil.
The market is driven by a host of factors, some of which are noted below:
The demand for terephthalic acid is anticipated to rise over the forecasted period because of the expanding market trends in the textile, automobile manufacturing, and other application sectors.
Polyester fibers, which are widely used in the textile industry, home furnishings, and industrial textiles, are made from the essential raw material, terephthalic acid.
Growing demand for Polyethylene Terephthalate (PET) resin used to produce plastic bottles, containers, and packaging materials is derived from terephthalic acid.
Sustainable packaging options are becoming more important because of growing environmental concerns. PET, a polymer manufactured from terephthalic acid, is recyclable and has high barrier qualities. The market for terephthalic acid is anticipated to expand as demand for environmentally friendly packaging materials increases.
The terephthalic acid market is heavily influenced by the construction sector. Polyethylene terephthalate (PET) film, utilized as a protective layer in building materials like glass laminates and solar panels, is made using terephthalic acid.
Demand for polyester fibers has increased because of rising disposable income levels and shifting customer tastes towards stylish yet comfortable clothes.
The terephthalic acid market is segmented as PET resins, polyester fiber, and films. The PET resin segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period.
Rising demand for PET resins in water bottles and soft drink bottles is expected to augment the market growth over the forecast period. Rising consumption of PET resins in packaging fresh and prepared foods will increase the market size, which is expected to grow over the forecast period.
End-Use Type
The terephthalic acid market is segmented as textile, bottling & packaging, and home furnishing. The bottling & packaging segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period.
The growth of this segment is due to the vast usage of PTA in take-out containers, ketchup jars, baked goods containers, household products, frozen foods, bottled water, cosmetics, juices, and carbonated drinks.
Regional Analysis
Asia Pacific is estimated to be the largest and fastest-growing market for terephthalic acid during the forecast period, followed by North America and Europe, with developing countries such as France, Germany, Spain, and the UK being the major countries with lucrative growth opportunities.
The rise in demand for terephthalic acid and the increase in consumption of PET bottles are anticipated to influence the growth of the terephthalic acid market in the region.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories.
By Application Type:
PET Resins
Polyester Fiber
Films
By End-Use Type:
Textile
Bottling & Packaging
Home Furnishing
By Region:
North America (Country Analysis: the USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Report Feature
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Terephthalic Acid Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
Target Audience
The target audience of the air quality sensors market includes-
Terephthalic Acid Vendors
Terephthalic Acid Manufacturers
Terephthalic Acid Distributors
Organizations
Government Bodies.
Critical Questions Answered in the Report
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global market. The historic years considered for the study are 2017-2020, base year is 2021, estimated year is 2021, and forecast period is 2022-2028. Following are the critical questions answered in the report.
What are the key trends in the global market?
How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
What is the impact of COVID-19 on global market?
What are the key strategies adopted by the major vendors to lead in the global market?
What is the market share of the top vendors?
Customization Options
Stratview Research offers one of the following free customization options to our respectable clients:
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Detailed profiling of additional market players (up to 3 players)
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Market Segmentation
Current market segmentation of any one of the application types by end-use type.
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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Terephthalic acid is an organic compound, which is a white solid commodity chemical, used principally as a precursor to polyester PET, used to make clothing and plastic bottles. Terephthalic Acid formula C6H4(CO2H)2.
Reliance Industries Limited (India), British Petroleum (UK), Sinopec Corporation (China), Indorama Ventures Public Company (Thailand), and SABIC (Saudi Arabia) are among the key players in the market.
