The increasing application of the market product in plastics and its use as a raw material is driving its demand.
NEW YORK CITY, NY, UNITED STATES, November 6, 2021 /EINPresswire.com/ – Terephthalic Acid Market Size – USD 51.39 Billion in 2019, Market Growth – 5.1% CAGR, Market Trends – Strong demand from APAC region.
A global research report titled Terephthalic Acid Market was recently published by Reports and Data to provide business guidance. The report also emphasizes key leading players in the global Terephthalic Acid market industry providing information such as company profiles, product image and specification, price, capacity, cost. , production, revenue and contact information. The global terephthalic acid market is expected to reach $ 81.12 billion by 2027. Terephthalic acid is produced by the chemical synthesis of crude oil. The majority of terephthalic acid is used in the production of polyester resin, which is used to make polyester film, polyethylene terephthalate resin, and polyester fiber.
It is used in the manufacture of terephthaloyl chloride, liquid crystal polymers, plasticizers, cyclohexanedimethanol and copolyester-ether elastomers. Terephthalic acid is more cost effective than the alternative to dimethyl terephthalate for most grades of polyester used in textiles and food and beverage containers. Terephthalic acid is used to make polyester coating resins for use in the formulation of household appliances, general metals, industrial maintenance, automobiles and continuous coatings.
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The main application of the market product is in polyester powder coating resins. Polyester fiber is made from blends of terephthalic acid with natural and synthetic fibers. They are used to make fabrics for clothing and furnishings, such as bedspreads, sheets, draperies and curtains.
The main participants are Sinopec Corporation, British Petroleum, SABIC, Reliance Industries Limited, Eastman Chemical Company, Indorama Ventures Public Company, Indian Oil Corporation, JBF Petrochemicals, Mitsubishi Chemical Corporation and Lotte Chemical Corporation, among others.
For the purpose of this report, reports and data have been segmented on global Terephthalic Acid market on the basis of manufacturing process, derivative, end-use industry and region:
Manufacturing Process Outlook (Revenue, USD Billion; Volume, Kilotons; 2016-2027)
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Derived Outlook (Revenue, USD Billion; Volume, Kilotons; 2016-2027)
Polybutylene terephthalate (PBT)
Polyethylene terephthalate (PET)
Polytrimethylene terephthalate (PTT)
End-Use Industry Outlook (Revenue, USD Billion; Volume, Kilotons; 2016-2027)
Electricity and electronics
Paints and coatings
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Regional outlook (revenue, billion USD; volume, kilotonnes; 2016-2027)
Other key findings from the report suggest
The electrical and electronics industry is expected to contribute to the growth of terephthalic acid due to the expansion of the power grid on a global scale. Rapid urbanization coupled with rising incomes in developing countries is expected to impact the growth of the market.
The packaging segment is expected to grow due to the increasing demand for bottles and soft drinks. Terephthalic acid is used in containers of baked goods, ketchup, take-out containers, jars, frozen foods, household products, juices and soft drinks, bottled water, and cosmetics.
The Amoco process is widely adopted for the production of terephthalic acid by oxidation of p-xylene using oxygen from the air. The process uses a cobalt-manganese bromide catalyst.
Polybutylene terephthalate is a thermoplastic engineering polymer used as an insulator in the electrical and electronic industries. It is a crystalline thermoplastic polymer and a type of polyester.
It is used for housings in electrical engineering but also in automotive construction as connectors and in households. It is also found made into fibers in toothbrushes, false eyelashes and is also used in the keys of some computer keyboards.
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