Dublin, Sept. 09, 2024 (GLOBE NEWSWIRE) — The “India Purified Terephthalic Acid Market, By Region, Competition, Forecast and Opportunities, 2020-2030F” report has been added to ResearchAndMarkets.com’s offering.
India Purified Terephthalic Acid Market achieved a total market volume of 132.67 Million Tonnes in 2024 and is expected to reach 190.56 Million Tonnes by 2030 with a CAGR of 6.42%
The growth of the textile industry, both for domestic use and export, significantly drives the demand for PTA, as polyester fibers are essential for apparel, home textiles, and industrial fabrics. Additionally, increased infrastructure and construction activities fuel the need for polyester products in applications such as geo-textiles and reinforcement materials.
India is a major player in the PTA market, with leading companies such as Reliance Industries and Indian Oil Corporation investing in advanced facilities to cater to both domestic and export demands. PTA production relies on paraxylene (PX), a petroleum-derived feedstock, and fluctuations in PX availability and global crude oil prices can impact production costs and market dynamics.
India imports a large portion of its PTA, primarily from China, the Middle East, and Southeast Asia, to supplement domestic production and meet high demand from various end-use industries. Stringent environmental regulations on emissions and waste management require investments in cleaner technologies and compliance measures. Technological advancements aim to improve production efficiency, reduce costs, and lessen environmental impact.
There is also a growing focus on sustainability, with efforts towards recycling and developing bio-based PTA alternatives to minimize ecological impact. The Indian PTA market offers significant growth potential driven by robust domestic industrial demand. Future advancements in technology and sustainability will be pivotal in shaping the market’s development.
Key Market Trends
There is a notable shift towards sustainable packaging solutions that utilize recycled or biodegradable materials. PTA, a crucial raw material for polyester-based packaging, is seeing increased demand for eco-friendly packaging options. In April 2024, UFlex, India’s leading multinational in flexible packaging solutions, began producing poly-condensed polyester chips at its Panipat facility. This plant, with an annual capacity of 168,000 metric tons, focuses on manufacturing polyester chips essential for Biaxially Oriented Polyethylene Terephthalate (BOPET) packaging films. The movement towards reducing plastic waste has boosted the use of recycled PET (rPET) in packaging, which in turn drives PTA demand since PTA is used in creating new polyester products.
In June 2024, Germany’s Coperion and Herbold Meckesheim, known for recycling technology, partnered with India’s Magpet Polymer Pvt. Ltd. to establish a PET bottle-to-bottle recycling facility. Also in June, Coca-Cola India introduced 100% recycled polyethylene terephthalate (rPET) bottles in a 250ml Affordable Small Sparkling Package (ASSP) format in Odisha, India, advancing plastic circularity efforts. Advancements in packaging technologies, including barrier coatings and sophisticated film structures, require specialized PTA formulations to enhance material performance and functionality. The rise of smart packaging solutions, featuring elements like temperature indicators and QR codes, is also driving demand for high-quality PTA to ensure the durability and reliability of these advanced packages.
Customization in packaging to address specific industry needs such as improved protection, extended shelf life, and enhanced aesthetics is on the rise. PTA is used to produce tailored polyester films and coatings that meet these demands. Additionally, the growth of e-commerce has increased the need for durable packaging solutions that protect products during transit, further boosting PTA demand. Emerging markets are experiencing a surge in demand for innovative packaging due to rapid economic development and rising consumer spending. This trend opens new opportunities for PTA producers to broaden their market presence.
Key Attributes:
Report Attribute | Details |
No. of Pages | 85 |
Forecast Period | 2024 – 2030 |
Estimated Market Value in 2024 | 132.67 Million Tonnes |
Forecasted Market Value by 2030 | 190.56 Million Tonnes |
Compound Annual Growth Rate | 6.4% |
Regions Covered | India |
Report Scope:
Key Market Players
- Reliance Industries Limited
- Moradia Brothers Chem Pvt. Ltd.
- Sigma Aldrich Chemicals Private Limited
- Eastman Chemical India Private Limited
- RX CHEMICAL RXSOL RX MARINE
- MCPI Private Limited
- Indorama Ventures Public Company Limited
- Indian Oil Corporation Ltd
- BP India Services Private Ltd.
- GAIL (India) Limited
India Purified Terephthalic Acid Market, By Sales Channel:
- Direct Sales Channel
- Indirect Sales Channel
India Purified Terephthalic Acid Market, By End User:
- Polyester Fiber and Yarn
- PET Resin
- Polyester Film
- Others
India Purified Terephthalic Acid Market, By Region:
- West India
- North India
- South India
- East India
For more information about this report visit https://www.researchandmarkets.com/r/oii1oz
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- Indian Purified Terephthalic Acid Market