Terephthalic Acid Market Size, Share, Trend, Forecast, & Industry Analysis: 2022-28
May 02, 2023/Industry News Global/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Permanent Magnets Market.
Terephthalic Acid Market report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Market Insights
The Terephthalic Acid Market is estimated to grow from USD 42.5 billion in 2021 to USD 61.38 billion by 2028 at a healthy CAGR of 5.29 % during the forecast period
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Segment Analysis
Application Type
The terephthalic acid market is segmented as PET resins, polyester fiber, and films. The PET resin segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period.
Rising demand for PET resins in water bottles and soft drink bottles is expected to augment the market growth over the forecast period. Rising consumption of PET resins in packaging fresh and prepared foods will increase the market size, which is expected to grow over the forecast period.
End-Use Type
The terephthalic acid market is segmented as textile, bottling & packaging, and home furnishing. The bottling & packaging segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period.
The growth of this segment is due to wide usage of PTA in take-out containers, ketchup jars, baked goods containers, household products, frozen foods, bottled water, cosmetics, juices, and carbonated drinks.
Regional Analysis
Asia Pacific is estimated to be the largest as well as the fastest-growing market for terephthalic acid during the forecast period, followed by North America and Europe, with developing countries such as France, Germany, Spain, and the UK being the major countries with lucrative growth opportunities.
The rise in demand for terephthalic acid and the increase in consumption of PET bottles are anticipated to influence the growth of the terephthalic acid market in the region.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Terephthalic Acid Market analysis report discusses the following heads in great detail:
· Market structure: Overview, industry life cycle analysis, supply chain analysis
· COVID-19 Impact Assessment
· Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
· Market trend and forecast analysis
· Market segment trend and forecast
· Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
· Attractive market segments and associated growth opportunities
· Emerging trends
· Strategic growth opportunities for the existing and new players
· Key success factors
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. It is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
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