New Market Analysis of PTA

Pure terephthalic acid is an organic compound and the most productive dicarboxylic acid. Its chemical formula is C8H6O4, molecular weight is 166.13. It is also called terephthalic acid, or PTA. PTA is flammable, soluble in alkaline solution, slightly soluble in hot ethanol, insoluble in water, ether, glacial acetic acid and chloroform. PTA is crystal and powder at normal temperature. It will not melt if heated until sublimated above 300°C. If heated in an airtight container, it can melt at 427°C.

Applications of PTA

PTA can be used in the production of polyester, synthetic fibers and plasticizers, etc., which are widely used in industrial plastics, films, coatings and other fields. As an important intermediate in the two major industries of textile chemical fiber and petrochemical industry, PTA plays an important connecting role.

Present situation of PTA industry

China’s PTA originated in the 1980s. In the late 1990s, it entered the initial stage of development. In the past 15 years, China’s PTA industry has developed rapidly, and new or expanded PTA production facilities have been put into production every year. Since 2000, with the rapid development of downstream polyester and polyester industry, China’s PTA industry has gradually entered a period of rapid growth. With the transfer of the world’s textile industry to China, the demand for PTA in China’s textile industry has soared. After that, the domestic PTA industry was further opened up. In the 21st century, owing to the successful localization of technology and equipment, the investment cost of equipment has been greatly reduced. PTA has maintained a trend of rapid development, and the production scale has increased rapidly. From 2012 to 2017, the development of the PTA industry has entered the slow period. There may be the following three main reasons:

  • The price of the raw material of PTA rises;
  • The development of PTA in the early stage was too fast, resulting in the overcapacity in the short term;
  • The market development of downstream polyester is exhausted.

In the 21st century, because of the success of technology and equipment localization, the investment cost of equipment has been greatly reduced, PTA has a rapid development trend, and the production scale can increase rapidly.

Our forecast on the future development of the PTA industry

Globally, the PTA market is expected to keep growing. The global PTA market is expected to grow at a annual growth rate of 5.5% between 2022 and 2032. 

In China, the expansion of the PTA industry will continue. Although past expansions have resulted in an oversupply situation that has driven down profit margins. This trend is expected to continue in the short term, but it may eventually improve through rationalization of production capacity. In addition, China’s PTA exports hit a new high in 2021, which may reflect the growth of China’s PTA capacity and changes in domestic demand.

The future development of the PTA market will be influenced by a number of key factors, including changes in upstream parabens and oil prices, as well as changes in supply and demand fundamentals in the short term.

The main application areas of PTA, including textiles, plastic bottles, coatings and packaging materials, etc., which are expected to maintain growth in the next few years. Especially in China, India, Mexico, and Saudi Arabia, government investments and development of coatings, textiles, and packaging industries are likely to drive market expansion. Increasing use of unsaturated polyester resins (UPR) in food & beverage packaging, pharmaceutical packaging, and in various sectors such as construction, marine, transportation, wind energy, and electricity will also drive the demand for PTA.

China, the world’s largest textile exporter, accounting for 38% of the global textile industry, is expected to grow significantly in the next few years, which may stimulate the demand for PTA.

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