Purified Terephthalic Acid (PTA) Market CAGR Status, Market Size Estimation, Industry Share, Price, Growth Trend, Business Analysis and Forecast 2019 to 2023

Global Purified Terephthalic Acid (PTA) Market Overview:

Purified Terephthalic Acid (PTA) is derived in a white physical form or crystalline powder and is inert in nature. PTA is aromatic in nature with significant use in the production of polyester fibers and films. The primary raw ingredient for Purified Terephthalic Acid (PTA) is paraxylene. It is commercially produced through the oxidation of PX to form terephthalic acid (TA), which is then purified to derive purified terephthalic acid (PTA). Purified Terephthalic Acid has the properties of resistance to chemicals and weathering and insulation. It is widely used as a raw material for various chemicals such as cyclohexane di-methanol, terephthaloyl chloride, copolyesterether elastomers, and plasticizers.

MRFR, in their latest analysis, Global Purified Terephthalic Acid Market is driven by various factors through the forecast period. Some of the factors contributing to the positive ascension observed in the Global PTA Market include rapid industrialization with PTA’s application in the manufacture of conveyor belts and meshing in several industries and a mounting demand for powder coatings made from purified terephthalic acid which are solvent free and environment-friendly.

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Furthermore, increasing expenditure on food and beverage packaging is also driving demand for Purified Terephthalic Acid during the forecast period. Owing to an upsurge in the home furnishing industry, the Global PTA Market is estimated to grow at a significant rate. Rising crude oil refining across the globe with PX being an end product is expected to be an important driver of the Purified Terephthalic Acid Market through the assessment period.

Key Players:

Some of the noteworthy players in the Purified Terephthalic Acid Market, as profiled by MRFR, include Alpek S.A.B. de C.V. (Mexico), Reliance Industries Limited (India), BP p.l.c. (U.K), The Dow Chemical Company (U.S.), Mitsubishi Chemical Corporation (Japan), E. I. du Pont de Nemours and Company (U.S.), China Petroleum & Chemical Corporation (China), Eastman Chemical Company (U.S.), SABIC (Saudi Arabia), and Indian Oil Corporation Ltd (India).

Industry Update:

March 2019: INVISTA Performance Technologies and Pan-Asia PET Resin Co., Ltd have announced their agreement for the licensing the latest INVISTA process technology for purified terephthalic acid (PTA). This project signifies the first PTA technology in the Middle East for INVISTA.

Market Segmentation:

The Purified Terephthalic Acid (PTA) Market, as per MRFR report, is segmented on the basis of Application, End-Use Industries, and Region.

Based on Application, Global PTA Market is segmented into polyester fiber, polyester films, pet resin, powder coatings, industrial machinery, and insulation materials.

Based on End-Use Industry, Global Purified Terephthalic Acid Market is segmented into paints & coatings, food & beverages, textiles, electrical, and furniture.

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Detailed Regional Analysis:

The Global Purified Terephthalic Acid Market is regionally segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. Among these segments, the Middle East & Africa segment is anticipated to grow at the highest CAGR the Global Purified Terephthalic Acid (PTA) Market through the forecast period. Such growth can be attributed to the rapidly growing food & beverages industry in the region.

Asia Pacific is assessed to emerge as a market leader for Purified Terephthalic Acid through the forecast period. The APAC is trailed by North America and then Europe, both regions garnering second and third highest shares in the PTA Market, respectively. North America is anticipated to exhibit tremendous growth due to a high polyester fiber consumption potential in the region. Such a high polyester consumption is a result of the increasing use of the same in industrial machinery, snowballing paints & coatings production capacities, and a rising economic growth rate. The U.S. is likely to be one of the most significant contributors in the regional growth of the Purified Terephthalic Acid Market during the forecast period.

Demand for Purified Terephthalic Acid (PTA) in Europe is estimated to grow in various countries including Germany, Spain, Italy, UK, France, and Russia accrediting to the increasing expenditure in home furnishings and growing purchasing power of consumers. Further, the presence of many prominent players from the automobile industry in the region is estimated to drive substantial growth to the Purified Terephthalic Acid Market. This is because PTA is used in the manufacture of conveyor belts and meshing.

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Purified Terephthalic Acid (PTA) Market Competitive Analysis, Emerging Trends and Demand Forecast up to 2023

Market Synopsis:

Market Research Future (MRFR)’s new study asserts that the Global Purified Terephthalic Acid (PTA) Market is projected to expand at a moderate CAGR during the forecast period 2017 to 2023. PTA offers insulation, resistance to chemicals and weathering, etc.  Which has led the development of its application in the production of a few important chemicals such as terephthaloyl chloride, cyclohexane di-methanol, etc. It is likely to create more demand for PTA in the upcoming years.

PTA is expected to be extensively in demand for the manufacturing of packages in the food & beverage industry. The growth of the food & beverage industry coupled with rising disposable income is poised to drive the expansion of the Purified Terephthalic Acid (PTA) Market over the assessment period. The market is also projected to scale new heights due to the increase in housing activities.

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PTA is an important ingredient for the production of solvent-free and environmentally friendly powder coatings which are famous in the industries for general purposes. The rapid industrialization is set to further push the growth of the Purified Terephthalic Acid (PTA) Market. Other end-user industries that are analyzed to generate more demand for PTA in the future are oil & gas, electrical, furniture, etc. Meanwhile, strict regulations by various governments remain a hindrance to the expansion of the global market in the foreseeable future.

Competitive Dashboard:

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

Market Segmentation:

By Application, the Global Purified Terephthalic Acid (PTA) Market has been segmented into polyester fiber, polyester films, pet resin, industrial machinery, powder coatings, insulation materials, and others.

By End-Use Industry, Purified Terephthalic Acid (PTA) Market has been segmented into food & beverages packaging, paints & coatings, textiles, electrical, and furniture.

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Regional Insights:

The Global Purified Terephthalic Acid (PTA) Market has been segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, the Middle East & Africa is expected to register the highest CAGR over the assessment period. The factors that are inducing growth in the regional Purified Terephthalic Acid (PTA) market include expanding food & beverages packaging industry, rising demand for paints & coatings, increasing home furnishing due to rapid housing activities, etc.

Asia Pacific is estimated to account for the largest share of the Global Purified Terephthalic Acid (PTA) market towards the end of the assessment period. The growth trajectory of the regional market is guided by the rise in polyester fiber consumption. Furthermore, growing paints & coatings production, rising disposable income, healthy economic growth rate, the growth of the electrical industry, etc. are some of the major factors responsible for catalyzing the proliferation of the Purified Terephthalic Acid (PTA) Market in the region. The growth of the petroleum industry is anticipated to work in favor of the market expansion. China, India and other emerging economies are the potential country-level markets for Purified Terephthalic Acid (PTA).

North America and Europe are significant growth pockets and are projected to exhibit substantial growth over the next couple of years. The U.S., trailed by Canada, is likely to lead the Purified Terephthalic Acid (PTA) Market in North America due to an increase in the production of crude oil. In Europe, the country-level markets that are poised to witness significant growth include Italy, Germany, Spain, the U.K, France, and Russia owing to rising investments in home furnishings. Meanwhile, the Latin American countries such as Argentina, Colombia, and Brazil are prognosticated to focus on the development of new technologies and inventions in PTA. It is expected to augment the Purified Terephthalic Acid (PTA) Market in the region.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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Purified Terephthalic Acid (PTA) Market 2019 - Trends Forecast Analysis by Manufacturers, Regions, Type and Application to 2023

Market Synopsis:

Market Research Future (MRFR)’s new study asserts that the Global Purified Terephthalic Acid (PTA) Market is projected to expand at a moderate CAGR during the forecast period 2017 to 2023. PTA offers insulation, resistance to chemicals and weathering, etc.  Which has led the development of its application in the production of a few important chemicals such as terephthaloyl chloride, cyclohexane di-methanol, etc. It is likely to create more demand for PTA in the upcoming years.

PTA is expected to be extensively in demand for the manufacturing of packages in the food & beverage industry. The growth of the food & beverage industry coupled with rising disposable income is poised to drive the expansion of the Purified Terephthalic Acid (PTA) Market over the assessment period. The market is also projected to scale new heights due to the increase in housing activities.

PTA is an important ingredient for the production of solvent-free and environmentally friendly powder coatings which are famous in the industries for general purposes. The rapid industrialization is set to further push the growth of the Purified Terephthalic Acid (PTA) Market. Other end-user industries that are analyzed to generate more demand for PTA in the future are oil & gas, electrical, furniture, etc. Meanwhile, strict regulations by various governments remain a hindrance to the expansion of the global market in the foreseeable future. 

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Competitive Dashboard:

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

Market Segmentation:

By Application, the Global Purified Terephthalic Acid (PTA) Market has been segmented into polyester fiber, polyester films, pet resin, industrial machinery, powder coatings, insulation materials, and others.

By End-Use Industry, the Purified Terephthalic Acid (PTA) Market has been segmented into food & beverages packaging, paints & coatings, textiles, electrical, and furniture.

Regional Insights:

The Global Purified Terephthalic Acid (PTA) Market has been segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, the Middle East & Africa is expected to register the highest CAGR over the assessment period. The factors that are inducing growth in the regional Purified Terephthalic Acid (PTA) Market include expanding food & beverages packaging industry, rising demand for paints & coatings, increasing home furnishing due to rapid housing activities, etc.

Asia Pacific is estimated to account for the largest share of the Global Purified Terephthalic Acid (PTA) Market towards the end of the assessment period. The growth trajectory of the regional market is guided by the rise in polyester fiber consumption. Furthermore, growing paints & coatings production, rising disposable income, healthy economic growth rate, the growth of the electrical industry, etc. are some of the major factors responsible for catalyzing the proliferation of the purified terephthalic acid (PTA) market in the region. The growth of the petroleum industry is anticipated to work in favor of the market expansion. China, India and other emerging economies are the potential country-level markets for Purified Terephthalic Acid (PTA).

North America and Europe are significant growth pockets and are projected to exhibit substantial growth over the next couple of years. The U.S., trailed by Canada, is likely to lead the Purified Terephthalic Acid (PTA) Market in North America due to an increase in the production of crude oil. In Europe, the country-level markets that are poised to witness significant growth include Italy, Germany, Spain, the U.K, France, and Russia owing to rising investments in home furnishings. Meanwhile, the Latin American countries such as Argentina, Colombia, and Brazil are prognosticated to focus on the development of new technologies and inventions in PTA. It is expected to augment the Purified Terephthalic Acid (PTA) Market in the region.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact: 

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Purified Terephthalic Acid (PTA) Market 2019 Opportunity, Growth Analysis Forecast 2023

Purified Terephthalic Acid (PTA) comes in a white physical form, crystalline powder and inert in nature. PTA is an aromatic acid, majorly used in the production of polyester fibers and films. The main raw material for PTA is paraxylene (PX). PTA is commercially produced by oxidation of PX to form Terephthalic Acid (TA) which is then purified to form PTA. It exhibits properties such as, insulation, resistance to chemicals and weathering, and is used as a raw material for chemicals such as cyclohexane di-methanol, terephthaloyl chloride and also for copolyester-ether elastomers and plasticizers.

As per our Analysis, some of the prominent market factors and trends identified in the Global Purified Terephthalic Acid Market include, rapid industrialization where PTA is utilized in the manufacture of conveyor belts and meshing in many industries, rising demand for powder coatings made from PTA which are solvent free and environmental friendly, and increasing expenditure on food & beverages packaging where it is used for manufacturing PET resin. Moreover, demand for PTA is predicted to witness significant growth over the assessment period due to surging home furnishing industry. Rising crude oil refining across the globe where PX is an end product in the petroleum industry is anticipated to be an important driver for PTA market during the review period. PTA based polyester fibers are used in many electrical insulation applications. Electricity sector is at the opportunity to rapidly accelerate momentum towards universal energy access. As nearly one in five of the world’s population don’t have access to electricity, it is anticipated to be key driver for the growth of PTA in the assessment period. Furthermore, rapid urbanization coupled with the increasing disposable income in the emerging economies is predicted to propel the use of polyester fiber textiles made from PTA and is predicted to be the driver for growth of the market during the assessment period, 2017 to 2023. However, PET resins and fibers do not degrade naturally in the environment at acceptable rates but can be recyclable and thus present litter and disposal problem. Thereby implementation of strict regulations by various government bodies is expected to hamper the growth of the market.

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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Segmentation:

The Global 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.

Regional Analysis:

The Global PTA Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, the Middle East & Africa is predicted to grow with the highest CAGR during the review period, 2017 to 2023 on account of expanding food & beverages packaging industry. The demand for PET resin segment in PTA market is predicted to be stagnant in North America, Europe and Latin America due to the presence of high consumer wastes PET bottles and this region is looking to recycle the existing PET bottles waste.

Asia Pacific has emerged as the leading market region for PTA followed by North America and Europe. North American PTA market is predicted to witness a tremendous growth on account of high polyester fiber consumption potential which is used in the industrial machinery, increasing paints & coatings production capacities, and rising economic growth rate. In North American region, the U.S. is predicted to be the major contributor in the regional growth of PTA market and is expected to see a significant demand for PTA during the forecast period, 2017 to 2023. As of 2016, the U.S accounts for the largest market share and is followed by Canada in terms of value & volume and is estimated to grow with the moderate CAGR on account of growth in production of crude oil. In Europe, the demand for PTA is predicted to grow in various countries such as Italy, Germany, Spain, U.K, France, and Russia on account of increasing expenditure in home furnishing where PTA based polyester fabrics are used to manufacture furnishing cloth and growing purchasing power of consumers. Moreover, presence of major automobile manufacturers and expanding automobile industry in this region gives an opportunity for PTA Market to grow in the forecast period as polyester fibers are used in the manufacture of conveyor belts and meshing. Specifically in Germany it is expected to give a new impetus to the market growth. Latin American countries such as Argentina, Colombia, and Brazil are also predicted to witness substantial growth owing to increasing consumer spending on passenger cars as well as involvement of new technologies and inventions in PTA. In the Middle East & Africa, paints & coatings and home furnishings segments are anticipated to propel the PTA Market in the forecast period owing to rapid housing activities and along with developments in travel and tourism industry. Asia Pacific PTA Market is predicted to grow with the moderate CAGR due to developing crude oil processing and expanding petroleum refineries in India and China bridges the demand gap for PTA raw materials. Moreover, continuous growth of electrical industry in various economies of Asia Pacific such as China, India, Malaysia, Thailand, and Japan is expected to raise the demand for insulation materials made from PTA which in turn is predicted to fuel the demand for PTA over the forecast period, 2017 to 2023.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact: Market Research Future
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Purified Terephthalic Acid (PTA) Market 2018 | Trends, Top Manufactures, Market Dynamics, Industry Growth Analysis & Forecast 2023

Overview:

The Global Purified Terephthalic Acid Market to enjoy robust expansion during the forecast period (2017-2023), reports Market Research Future (MRFR) in an extensive study. The growth of Purified Terephthalic Acid can be attributed to its manifold use in diverse sectors which can eventually help the market attain a sterling CAGR during the review period. Industries are also adopting polyester fibers owing to its ability to blend with natural and synthetic fibers can also spur the demand for Purified Terephthalic Acid.

Drivers and Restraints:

The acid offers a range of features such as flexibility, durability, utility as drying agent, along with chemical and wrinkle resistance which can be leveraged in diverse sectors. Production of carbonated plastic bottles requires this component in large amount which can act like a boon for the Purified Terephthalic Acid.

Paints and coating industry is also experiencing an unprecedented growth which in an obvious manner can trigger the production of Purified Terephthalic Acid. In addition, government investments are also on the rise with countries such as China and India showing tremendous proliferation of textile and packaging industries.

Food & beverage and pharmaceutical packaging are areas which have high potential and can boost the Purified Terephthalic Acid Market in future. Also, rapid urbanization, development in marine & transport and advancing power sectors are influencing the construction and commercial industries which require unsaturated polyester resin (UPR) due to its cost-effective and eco-friendly characteristics. This can act as a market catalyst for the Purified Terephthalic Acid Market.

However, varying crude oil prices can impede the market growth. Stringent imposition of regulations and norms by various governments regarding its use may hinder the normal growth.

Industry News:

British Petroleum (BP) has implemented technologies in their PTA production that not only reduces carbon footprint but is also cost-effective. The company has recently announced that it will share its technology with SOCAR Turkey Energy A.Ş (SOCAR Turkey) and they have entered into a licensing agreement.

Segmentation:

The Global PTA Market can be segmented by Application, and End-User Industry.

Application-Wise, the market includes polyester fiber, polyester films, pet resin, industrial machinery, powder coatings, insulation materials and others. Polyester segment is currently generating the maximum market share. However, a shift in the consumer behavioral trend has rapidly augmented PET demand from the food & beverage sector which can witness a significant growth during the forecast period.

Based on End-User, the market comprises into food & beverages packaging, paints & coatings, textiles, electrical, and furniture. Food & beverage sector is experiencing a considerable growth owing to rising disposable income and rapid urbanization.

Regional Analysis:

Geographically, the market covers Asia Pacific (APAC), Europe, Latin America (LATAM), North America, and the Middle East & Africa (MEA).

The APAC is currently generating the maximum market share as the region is now experiencing a rapid industrial expansion in countries such as India and China. Rising population has also triggered multiple fields such as construction, textile, and food & beverage into action which is currently influencing the PTA market. Rising demand for insulation materials owing to expansion of energy sector can boost the market during the forecast period.

North America is second in terms of generating revenues. The U.S. contributes the most owing to the presence of well-structured industries.

Europe is experiencing significant growth as countries such as Italy, Germany, Spain, France, the U.K., and Russia are fetching a substantial amount from the market. Home furnishing sector is impacting the market notably. The region is also reaping benefits from a well-developed automotive sector.

The LATAM is showing considerable growth. Countries such as Brazil, Colombia, and Argentina are experiencing more customer spending for passenger cars which impact the market directly.

The MEA is expected to grow with the highest CAGR during the review period owing to a considerable growth in food & beverage packaging industry. Housing industry is also experiencing a boom which directly influences paint and coating industry.

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Purified Terephthalic Acid (PTA) Market 2018 | Share, Competitive Analysis and Industry Segments Poised for Strong Growth in Future 2023

Purified Terephthalic Acid (PTA) comes in a white physical form, crystalline powder and inert in nature. PTA is an aromatic acid, majorly used in the production of polyester fibers and films. The main raw material for PTA is paraxylene (PX). PTA is commercially produced by oxidation of PX to form terephthalic acid (TA) which is then purified to form PTA. It exhibits properties such as, insulation, resistance to chemicals and weathering, and is used as a raw material for chemicals such as cyclohexane di-methanol, terephthaloyl chloride and also for copolyester-ether elastomers and plasticizers.

As per our Analysis, some of the prominent market factors and trends identified in the Global PTA Market include, rapid industrialization where PTA is utilized in the manufacture of conveyor belts and meshing in many industries, rising demand for powder coatings made from PTA which are solvent free and environmental friendly, and increasing expenditure on food & beverages packaging where it is used for manufacturing PET resin. Moreover, demand for PTA is predicted to witness significant growth over the assessment period due to surging home furnishing industry. Rising crude oil refining across the globe where PX is an end product in the petroleum industry is anticipated to be an important driver for PTA market during the review period. PTA based polyester fibers are used in many electrical insulation applications. Electricity sector is at the opportunity to rapidly accelerate momentum towards universal energy access. As nearly one in five of the world’s population don’t have access to electricity, it is anticipated to be key driver for the growth of PTA in the assessment period. Furthermore, rapid urbanization coupled with the increasing disposable income in the emerging economies is predicted to propel the use of polyester fiber textiles made from PTA and is predicted to be the driver for growth of the market during the assessment period, 2017 to 2023.
However, PET resins and fibers do not degrade naturally in the environment at acceptable rates but can be recyclable and thus present litter and disposal problem. Thereby implementation of strict regulations by various government bodies is expected to hamper the growth of the market.

Regional Analysis:

The Global PTA Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, the Middle East & Africa is predicted to grow with the highest CAGR during the review period, 2017 to 2023 on account of expanding food & beverages packaging industry. The demand for PET resin segment in PTA Market is predicted to be stagnant in North America, Europe and Latin America due to the presence of high consumer wastes PET bottles and this region is looking to recycle the existing PET bottles waste.

Asia Pacific has emerged as the leading market region for PTA followed by North America and Europe. North American PTA market is predicted to witness a tremendous growth on account of high polyester fiber consumption potential which is used in the industrial machinery, increasing paints & coatings production capacities, and rising economic growth rate. In North American region, the U.S. is predicted to be the major contributor in the regional growth of PTA market and is expected to see a significant demand for PTA during the forecast period, 2017 to 2023. As of 2016, the U.S accounts for the largest market share and is followed by Canada in terms of value & volume and is estimated to grow with the moderate CAGR on account of growth in production of crude oil. In Europe, the demand for PTA is predicted to grow in various countries such as Italy, Germany, Spain, U.K, France, and Russia on account of increasing expenditure in home furnishing where PTA based polyester fabrics are used to manufacture furnishing cloth and growing purchasing power of consumers.

Moreover, presence of major automobile manufacturers and expanding automobile industry in this region gives an opportunity for PTA Market to grow in the forecast period as polyester fibers are used in the manufacture of conveyor belts and meshing. Specifically in Germany it is expected to give a new impetus to the market growth. Latin American countries such as Argentina, Colombia, and Brazil are also predicted to witness substantial growth owing to increasing consumer spending on passenger cars as well as involvement of new technologies and inventions in PTA. In the Middle East & Africa, paints & coatings and home furnishings segments are anticipated to propel the PTA market in the forecast period owing to rapid housing activities and along with developments in travel and tourism industry. Asia Pacific PTA market is predicted to grow with the moderate CAGR due to developing crude oil processing and expanding petroleum refineries in India and China bridges the demand gap for PTA raw materials. Moreover, continuous growth of electrical industry in various economies of Asia Pacific such as China, India, Malaysia, Thailand, and Japan is expected to raise the demand for insulation materials made from PTA which in turn is predicted to fuel the demand for PTA over the forecast period, 2017 to 2023.

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