Terephthalic Acid Market - Growth, Trends, and Forecast (2019 - 2024)

The Terephthalic Acid Market is segmented by Derivative (Polyethylene Terephthalate, Polybutylene Terephthalate, Polytrimethylene Terephthalate, Dimethyl Terephthalate, and Other Derivatives), Application (Packaging, Fibers, Paints and Coatings, Adhesives, and Other Applications), and Geography.

Market Snapshot

Market Summary -
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The terephthalic acid market is expected to register a CAGR of around 5%, during the forecast period, 2019 – 2024. Rising demand for polyethylene terephthalate (PET) from the packaging industry is the main factor driving the market. The toxic effects of terephthalic acid are expected to hinder the growth of the market.

  • The polyethylene terephthalate (PET) segment dominated the market in 2018, and is expected to grow during the forecast period, owing to the increasing usage of PET in the packaging industry.
  • Advancement in production technology is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the global market, with the highest consumption from countries, such as China and India.

Scope of the Report

The terephthalic acid market report includes:

Derivative
Polyethylene Terephthalate (PET)
Polybutylene Terephthalate (PBT)
Polytrimethylene Terephthalate (PTT)
Dimethyl Terephthalate
Other Derivatives
Application
Packaging
Fibers
Paints and Coatings
Adhesives
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Russia
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Demand from Polybutylene Terephthalate (PBT)

  • Polybutylene Terephthalate (PBT) is a semi-crystalline, white or off-white thermoplastic polyester, similar to polyethylene terephthalate (PET), in both composition and properties. When compared to PET, PBT has higher impact strength, better electrical resistance, and similar chemical resistance.
  • As PBT crystallizes more rapidly and is easy to mold than PET, it is preferred for industrial-scale molding over PET. PBT is majorly used in various applications, such as electrical and electronics, automotive, fiber optics, communications, and consumer goods, among others.
  • The automotive end-user industry accounts for the largest share of the market, and is also expected to hold its position during the forecast period. Electrical and electronics is the fastest growing end-user segment. PBT can be used in both interior and exterior applications, especially in electrical systems in the automotive segment. Most common applications include windshield wiper covers, mirror housings, cowl vents, handles, fans, fuel system components, connectors, sensor housings, fuse boxes, actuator cases, power relays, switches, motor components, and ignition system components.
  • While in electronics, different grades of PBT find applications in both signal and power uses, such as connectors, sensor housings, chip sockets, terminal boards, coil bobbins, transformer insulation, switches, circuit breakers, power sockets for modular building panels, motor end caps, rush holders , stator insulation, cable liners, and fiber optic buffer tubes.
  • Asia-Pacific holds the largest share of the market, and it is also expected to be the fastest growing market. China is the leading player, and is followed by Japan. This is mainly due to the growing automotive and electronics sectors in the region.
Terephthalic Acid Market - Segmentation

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Asia-Pacific to Dominate the Market

  • Asia-Pacific accounted for the highest share, with over 40%, in the terephthalic acid market. The growth of various industries, such as food and beverage, packaging, and textile manufacturing, in China and India is likely to fuel the market growth, during the forecast period.
  • Increasing sales volume of apparel goods and clothing, through e-commerce portals in the Asia-Pacific countries, is also expected to create immense potential for the market. Additionally, Asia-Pacific is the largest consumer of yarn and fiber.
  • The rise in demand for yarn from the textile industry and increase in consumption of PET bottles are anticipated to influence the growth of the terephthalic acid market in the region.
  • China is the largest manufacturer of terephthalic acid in the region. Rapid urbanization and increasing penetration of the packaged food industry are driving the market growth in the country. Thus, owing to the aforementioned factors, the demand for terephthalic acid is increasing in this region.
Regional - Terep

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Competitive Landscape

The terephthalic acid market is partly fragmented, and is dominated by very few players. Some of these major players include SABIC, BP PLC, Sinopec Corp., Technology Ltd, and Arkema SA.

Major Players

  1. SABIC
  2. BP PLC
  3. Sinopec Corp.
  4. Eastman Chemical Company
  5. Indian Oil Corporation Ltd

* Complete list of players covered available in the table of contents below

Market Concentra

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Significant Demand from the Textile Industry in Asia-Pacific

      2. 4.1.2 Increasing Consumption of Packaging Material

      3. 4.1.3 Growing Demand for PBT in Electrical Applications

    2. 4.2 Restraints

      1. 4.2.1 Toxic Effects of Terephthalic Acid

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Feedstock Analysis

    6. 4.6 Technological Snapshot

    7. 4.7 Trade Analysis

    8. 4.8 Regulatory Policy Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Derivative

      1. 5.1.1 Polyethylene Terephthalate (PET)

      2. 5.1.2 Polybutylene Terephthalate (PBT)

      3. 5.1.3 Polytrimethylene Terephthalate (PTT)

      4. 5.1.4 Dimethyl Terephthalate

      5. 5.1.5 Other Derivatives

    2. 5.2 Application

      1. 5.2.1 Packaging

      2. 5.2.2 Fibers

      3. 5.2.3 Paints and Coatings

      4. 5.2.4 Adhesives

      5. 5.2.5 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Russia

        6. 5.3.3.6 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BP PLC

      2. 6.4.2 China Petroleum & Chemical Corporation

      3. 6.4.3 Eastman Chemical Company

      4. 6.4.4 Formosa Petrochemical Co.

      5. 6.4.5 Indian Oil Corporation Ltd

      6. 6.4.6 Indorama Ventures Public Company Limited

      7. 6.4.7 Lotte Chemical Corporation

      8. 6.4.8 Materials Chemicals and Performance Intermediaries Private Limited

      9. 6.4.9 Mitsubishi Chemical Corporation

      10. 6.4.10 Mitsui Chemicals Europe GmbH

      11. 6.4.11 PetroChina Company Limited

      12. 6.4.12 Reliance Industries Limited

      13. 6.4.13 SABIC

      14. 6.4.14 Samyang Holdings Corporation

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Advancement in Production Technology

**Subject to Availability

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