The market is segmented on the basis of applications including textiles, bottling & packaging and furnishing. High consumption of PTA in polyester component and unsaturated polyester resins is expected to propel market growth. Textiles were the largest market followed by bottling & packaging and furnishing. Volatility in crude oil prices is likely to restrain market growth over the next six years.
Asia Pacific was the largest market on account of high concentration of manufacturing industries particularly in China and India. Moreover, Asia Pacific is expected to witness fastest growth over the forecast period owing to increasing disposable income and improving consumer standard of living.
Europe and North America followed Asia Pacific in terms of market volume share. Europe is likely to witness sluggish growth due to rising use of bio-based PET in bottling & packaging industry. In addition, stringent regulations supporting the use of bio-based PET is likely to have negative impact on market growth.
Asias PTA capacity has reached XX.XX m tonne/year by the end of 2015. Asias PTA plants are to run at lower rates or more units will be kept idle in 2016 to balance the expected annual demand growth rate of 6-7%. The average operating rate of Asias PTA capacities were maintained at 76% of capacity in 2015 because supply and demand growth matches each other. India, the second largest PTA consumption hub in Asia, is likely to reverse its short supply of PTA in 2015 by boosting its domestic PTA capacity.
Global PTA market is highly concentrated and is dominated by large petrochemical companies. Key players include DuPont, Celanese, Eastman Chemical Company, Sinopec, Reliance Industries Limited, Alfa Group, British Petroleum, Indian Oil Corporation, Formosa Plastics Group, Honam Petrochemical Corporation, SABIC, Mitsubishi Chemical Corporation, Samsung Petrochemical Co. Ltd., IVL Belgium N.V., CEPSA,, Mitsubishi Chemical Corporation, Samsung Petrochemical Co. Ltd., IVL Belgium N.V., CEPSA and Mitsui Chemicals among others.
Terephthalic acid is the main feedstock to manufacture vinyl acetate monomer, which was at the forefront in terms of volumetric consumption in 2015. It is mainly driven by the growing demand of polyvinyl acetates and vinyl alcohols, which in turn are accelerating the demand for Terephthalic acid. VAM is a key raw material in the manufacturing of water based adhesive which accounts for close to 54% of the global adhesive and sealants market and the increasing demand from Asia Pacific is expected to boost the demand for Terephthalic acid over the forecast period.
Environmental concerns represent one of the major factors influencing the market for Terephthalic acid. The increased use of recyclable PET, the growing popularity of family-pack bottles, and a shift towards light-weight bottles that use less PET are some of the trends that might harm the growth in demand for PET, which in turn will affect demand for PTA.
What the report contains
The report elucidates the situation of Terephthalic Acid around the world and studies its markets by product type which include Polyethylene Terephthalate (PET), Polybutyl Terephthalate (PBT), Polytrimethylene Terephthalate (PTT), Engineering polymers and Others; and by application Textile, Bottling & Packaging, Furnishing among others.
Lastly, the report is divided by geography - North America, Europe, the Asia-Pacific (APAC), South America and Middle-East & Africa (MEA); where-in the market share of each region is analyzed and estimates are provided for the next 5 years.
1.2 Research Methodology
2. Executive Summary
3. Terephthalic Acid Market
3.2 Industry Value Chain Analysis
3.3 Industry Attractiveness Porters 5 Force Analysis
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Consumers
3.3.3 Threat of New Entrants
3.3.4 Threat of Substitute Products and Services
3.3.5 Degree of Competition
4. Market Dynamics
4.1.1 Huge demand from packaging and textile industry
4.1.2 Rising disposible income especially in APAC
4.2.1 More dependence on APAC
4.2.2 Volatility in raw material prices
4.2.3 Increasing use of recylable PET
4.3.1 Backward Integration
5. Market Segmentation and Analysis
5.1 By Product Type
5.1.1 Polyethylene Terephthalate (PET)
5.1.2 Polybutyl Terephthalate (PBT)
5.1.3 Polytrimethylene Terephthalate (PTT)
5.1.4 Engineering polymers
5.2 By Application
5.2.2 Bottling & Packaging
6. Regional Market Analysis (Market size, Growth and forecast)
6.1.4 South Korea
6.1.5 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.4 Rest of North America
6.3.2 United Kingdom
6.3.5 Rest of Europe
6.4 South America
6.4.3 Rest of South America
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of MEA
7. Raw Material Analysis
8. PESTEL analysis
9. Production Market (Capacities and Production)
10. Consumption Market (Demand and Supply)
11. Import and Export
12. Price Analysis
13. Downstream markets review and forecast
14. Competitive Landscape
14.1 Mergers & Acquisitions
14.2 Joint Ventures, Collaborations and Agreements
14.3 Market Share Analysis
14.4 Strategies Adopted by Leading Players
15. Company Profiles (Overview, Products & Services, Financials, Recent Developments)
15.1 Alfa Group
15.2 British Petroleum
15.6 Eastman Chemical Co.
15.7 Formosa Plastics Group
15.8 Honam Petrochemical Corporation
15.9 Indian Oil Corporation
15.10 IVL Belgium N.V.
15.11 Jiangsu Sopo Co. Ltd.
15.12 Mitsui Chemicals
15.14 Reliance Industries Limited
15.16 Samsung Petrochemical Co. Ltd.