Global PTA market to reach USD 97.62 billion by 2033 with CAGR of 4.91%
From GlobeNewswire: 2024-06-28 10:00:00
The Global Purified Terephthalic Acid (PTA) Market is set to grow from USD 60.45 billion in 2023 to USD 97.62 billion by 2033, with a CAGR of 4.91%. PTA is used in various industries such as automotive, industrial maintenance, and metal processing due to its ability to eliminate stains and dirt.
The polyester segment is expected to dominate the global PTA market, with applications in polyester, polybutylene terephthalate, and plasticizers. The bottling & packaging industry is projected to grow rapidly, driven by increased demand for products like fruit juices, pickles, and soft drinks packaged with PET resins.
Asia Pacific is anticipated to hold the largest share of the global PTA market, driven by increased foreign investments and growth in the packaging industry. North America is expected to grow quickly, fueled by trends in industrialization and urbanization. Major players in the market include Indorama Ventures, BP, and Formosa Plastics Group.
In April 2024, the world’s largest PTA facility was launched in China with an annual production capacity of three million tons. The market is segmented by applications (polyester, polybutylene terephthalate, plasticizers), end-users (textile, bottling & packaging, home furnishing), and regions (North America, Europe, Asia-Pacific, Middle East & Africa). For more information, visit the Spherical Insights website.
Read more at GlobeNewswire: Global Purified Terephthalic Acid (PTA) Market Size To