Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Purified Terephthalic Acid Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
How Will the Purified Terephthalic Acid Market Grow Between 2024 and 2025?
The market size of the purified terephthalic acid has been experiencing a steady growth in recent years. It is projected to increase from $52.49 billion in 2024 to $54.9 billion in 2025, with the compound annual growth rate (CAGR) being 4.6%.
How Much Will the Purified Terephthalic Acid Market Be Worth in 2029?
The purified terephthalic acid market is anticipated to expand significantly in the coming years, reaching a value of $70.72 billion by 2029. This corresponds to a compound annual growth rate (CAGR) of 6.5%.
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Which Purified Terephthalic Acid Market Drivers Are Linked to Revenue Growth?
The key Drivers in the purified terephthalic acid market are:
• Rising demand for polyester fibers
• The role of purified terephthalic acid in manufacturing polyester fiber and polyethylene terephthalate (PET) resin
• The prevalence of polyester and PET in consumer products
• Increase in imports of woven fabric polyester staple fibers
Which Segments Are Expected to Grow in the Purified Terephthalic Acid Market?
The purified terephthalic acidmarket covered in this report is segmented –
1) By Manufacturing Process: Amoco Process, Co-Oxidation, Multistage Oxidation, Henkel Process
2) By Application: Polyester, Polybutylene Terephthalate (PBT), Plasticizers, Other Applications
3) By End User: Textile, PET Bottles, Packaging, Other End Users
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What Are The Key Trends Impacting Growth In The Global Purified Terephthalic Acid Market?
The key trends in the purified terephthalic acid market are:
• Companies in the purified terephthalic acid market are strategically boosting their production capacities and operational efficiencies.
• There's a trend for technology-driven transformation within major companies for enhanced production efficiency and sustainability.
• The expanding polyester and textile industries are creating a higher demand for purified terephthalic acid.
• There is an emergence of complex chemical facilities utilizing advanced technologies and smart-manufacturing techniques.
Who Are the Key Competitors in the Global Purified Terephthalic Acid Market?
The key players in the purified terephthalic acid market are:
• Indian Oil Corporation
• Alpek S.A.B. de C.V.
• British Petroleum PLC
• Reliance Industries Limited
• Saudi Basic Industries Corporation
• Sinopec Corporation
• Jiaxing Zhonghua Chemical Co. Ltd.
• JBF Industries Ltd.
• China Petrochemical Corporation
• Indorama Ventures Public Company
• Lotte Chemical Corporation
• Petkim Petrokimya Holding A.S
• MCPI Private Limited
• Taekwaang Industrial Co. Ltd.
• Zhejiang Hengyi Group Co.
• Eastman Chemical Company
• Dow Chemical Company
• Formosa Plastics Corporation
• Far Eastern New Century Corporation
• Thai Polyester Company Limited
• Toray Industries Inc.
• Nan Ya Plastics Corporation
• China National Chemical Corporation
• Tongkun Group Co. Ltd.
• Advansa B V
• Chang Chun Petrochemical Co. Ltd.
• Fujian Billion Petrochemicals Co. Ltd.
• Samyang Holdings Corporation
Where Is the Purified Terephthalic Acid Market Growing Fastest Between 2025 and 2029?
North America was the largest region in the purified terephthalic acid market in 2024
