Pune, India -- (SBWIRE) -- 03/20/2018 -- Segmentation

The Global Purified Terephthalic Acid (PTA) Market is categorized on the basis of application, end use industry, and region. On the basis of application, the market is bifurcated into polyester fiber, polyester films, pet resin, industrial machinery, powder coatings, insulation materials and others. On the basis of end use industry, the PTA market is categorized into food & beverages packaging, paints & coatings, textiles, electrical, and furniture. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Key Players

Some of the prominent players operating in the Global PTA Market are Reliance Industries Limited (India), Alpek S.A.B. de C.V. (Mexico), The Dow Chemical Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), BP p.l.c. (U.K), Eastman Chemical Company (U.S.), SABIC (Saudi Arabia), China Petroleum & Chemical Corporation (China), Mitsubishi Chemical Corporation (Japan), and Indian Oil Corporation Ltd (India) among others.

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Asia Pacific has established itself as an important market region for Purified Terephthalic Acid (PTA) followed by North America and Europe. North American PTA Market is anticipated to observe a huge increase due to more polyester fiber consumption potential which is utilized in the industrial machinery, rising paints & coatings production capacities, and rising human development index (HDI) growth rate.

In Europe, the interest in PTA is expected to increment in different countries, such as, Italy, Germany, Spain, U.K, France, and Russia because of expanding use in home furnishing where PTA based polyester fabrics are utilized extensively to make furnishing cloths and rising spending capacity of purchasers. In addition, presence of automobile manufacturing industries and extending vehicle industry capacities in this region gives a chance for PTA Market to develop in the gauge time frame as polyester fibers are utilized as a part of the fabricate of conveyor belt and meshing. Particularly in Germany is relied upon to give another force to the PTA Market development. Latin American nations, such as Argentina, Colombia, and Brazil are likewise anticipated to observe significant development inferable from expanding purchaser spending on automobiles and also association of new innovations with new technologies to produce PTA. In the Middle East & Africa, paints and coatings and home furniture segments are foreseen to move the PTA market higher in the conjecture time frame inferable from fast housing and construction activities and alongside advancements in travel and tourism industry. Asia Pacific PTA Market is anticipated to develop with the highest CAGR owing to developing petroleum refining and growing oil refineries in India and China connects the demand gap for PTA raw materials. Besides, consistent development of electrical industry in major economies of Asia Pacific, such as China, India, Malaysia, Thailand, and Japan is relied upon to raise the interest for insulation materials produced using PTA which thus is anticipated to fuel the interest for PTA over the stipulated time frame, 2017 to 2023.

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