Purified Terephthalic Acid (PTA) Price Trend

Purified Terephthalic Acid (PTA) Prices December 2023

The price trend in the USA was 1365 USD/MT. In Q4 2023, the North American purified terephthalic acid (PTA) market experienced initial price surges due to supply shortages and robust demand from the packaging and polyester sectors. However, by December, declining demand and efforts to minimize year-end inventories led to a market downturn.

The price trend in Japan was 583 USD/MT. The Japan purified terephthalic acid (PTA) market in Q3 of 2023 was bearish with a large price fall. This was caused by oversupply, destocking policy, and weak consumption in the downstream. PTA price in Japan has dropped -7% YOY and -9% from the previous quarter.

The PTA market of Turkey saw a divergent price trend in Q4 2023. At first, prices shot up in October and November because of tight supply and growing input costs, causing manufacturers to slash operational rates as a strategy to protect profit margins. Destocking by market participants resulted in a price process by December and settle at 1065 USD/MT CFR Izmir.

Purified Terephthalic Acid (PTA) Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Purified Terephthalic Acid (PTA) Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of purified terephthalic acid (PTA) pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of purified terephthalic acid (PTA) at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of purified terephthalic acid (PTA) price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing purified terephthalic acid (PTA) price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Purified Terephthalic Acid (PTA) Market Analysis

The global purified terephthalic acid (PTA) market size reached US$ 91.6 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 138.1 Billion, at a projected CAGR of 4.60% during 2023-2032.

The growing adoption of polyethylene terephthalate (PET) in packaging, textiles, and bottles is catalyzing the demand for purified terephthalic acid (PTA) worldwide. For instance, China exported textiles, apparel, and clothing accessories worth US$ 323.344 billion in 2022, registering a slight growth of 2.53% compared to the previous year. Garment and clothing accessories exports reached US$ 175.396 billion in 2022, which was 3.2% higher than the same period of last year. China's textile exports, including yarn, fabrics, and others, registered a growth of 2% year-on-year to reach US$ 145.079 billion in 2022. Moreover, the development of textile industries in developing countries is increasing the PTA demand as a prime raw material for polyester fiber production. For instance, according to the International Labour Organization (ILO), more than 60% of world clothing exports are manufactured in developing countries. Asia is the major world supplier, producing more than 32% of the world's clothing exports. In addition to this, the food and beverage industry is expanding at a rapid pace, thereby increasing the usage of PET packaging which, in turn, is propelling the growth of the PTA market. In 2021, according to Statista, worldwide edible grocery sales of supermarkets and neighborhood stores amounted to approximately US$ 1.2 trillion. Hyper-stores were the second-largest channel with a total of around 544 billion in sales. By 2026, all channels will have seen an increase in sales, with e-commerce featuring the highest growth. Apart from this, innovations involving PTA in different applications, such as automotive and electronic industries, are leading the market toward growth. The use of purified terephthalic acid (PTA) is increasing due to the adoption of eco-friendly PET, facilitated by government policies that support sustainable materials, further creating a positive market outlook globally. Furthermore, advanced recycling technologies and increasing attention to the environment have increased the recycling rate of PET products, thus supporting the market growth of purified terephthalic acid (PTA).

Purified Terephthalic Acid (PTA) News

The report covers the latest developments, updates, and trends impacting the global purified terephthalic acid (PTA) market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in purified terephthalic acid (PTA) production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the purified terephthalic acid (PTA) price trend.

Latest developments in the purified terephthalic acid (PTA) industry:

• In August 2022, Reliance Industries Ltd., the Indian multinational conglomerate company, made an announcement about its intention to invest in increasing the capacity of the polyester value chain within the next five years. As a part of this approach, the company will put in place the world’s biggest single-train PTA (purified terephthalic acid) plant of 3 MMTPA capacity at Dahej, Gujarat.
• In March 2022, Ineos Aromatics finalized the upgrading of its PTA plant in Merak, Indonesia, by the installation of a big oxygen reactor and the re-arrangement of the heat recovery system to reduce the carbon emissions from the site. In addition, the PTA capacity was enhanced from 500 000 tons per annum to 575 000 tons per annum as part of the upgrading.

Product Description

Purified terephthalic acid (PTA) is a white crystalline organic compound mainly used in PET production for making clothes and plastic bottles. PTA, which is noted for its chemical stability and moisture resistance, is produced mostly by the catalytic liquid-phase oxidation of paraxylene in acetic acid, in the presence of air. It is characterized by a very high purity level, which is important for manufacturing good-quality polyester fibers and resins. TA's water insolubility and its properties in forming combined polyesters with glycols make it extremely useful in the textile and packaging industries. The adverse effect of this product on the environment is minimized through improvements in the manufacturing processes that reduce the emission and improve the recyclability of the end products.

Regional Coverage

The report provides a detailed analysis of the purified terephthalic acid (PTA) market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the purified terephthalic acid (PTA) price trend. 

Global Purified Terephthalic Acid (PTA) Price

The report offers a holistic view of the global purified terephthalic acid (PTA) pricing trends in the form of purified terephthalic acid (PTA) price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of purified terephthalic acid (PTA) but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed purified terephthalic acid (PTA) demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Purified Terephthalic Acid (PTA) Price

In Europe, the PTA market witnessed a subdued environment with a moderate balance between supply and demand. The market was bearish as it had stable production and availability of raw materials. Eventually, high container freight prices and the Red Sea crisis had an impact, and supply shortages were followed by higher PTA prices. Those tensions were reinforced by the increase in feedstock propylene price, but the demand for PTA was stabilized.

This analysis can be extended to include detailed purified terephthalic acid (PTA) price information for a comprehensive list of countries.

North America Purified Terephthalic Acid (PTA) Price

The North American purified terephthalic acid (PTA) market was volatile mainly due to the weak demand from the downstream polymer industry and inexpensive imports that were competitive. First market woes were worsened by falling manufacturing orders. On the other hand, the growing freight costs, and incidents of force majeure at major plants resulted in supply disruption worsening the already tight market situation and forcing PTA prices upward.

Specific purified terephthalic acid (PTA) historical data within the United States and Canada can also be provided.

Middle East and Africa Purified Terephthalic Acid (PTA) Price

The report explores the keyword pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on purified terephthalic acid (PTA) prices for countries can also be provided.

Asia Pacific Purified Terephthalic Acid (PTA) Price

Initially, in the Asia Pacific region, the purified terephthalic acid (PTA) market was characterized by a bullish trend as regional trade increased and demand from the plastics sector also rose. The market had a lower surplus supply hence prices stabilized with increased trading activity and shipping conditions. Altogether, these factors led to a swift comeback of the PTA market with surging transactions and bullish market moods.

This purified terephthalic acid (PTA) price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Purified Terephthalic Acid (PTA) Price

The analysis of purified terephthalic acid (PTA) prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of purified terephthalic acid (PTA) pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting purified terephthalic acid (PTA) price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The purified terephthalic acid (PTA) price charts ensure our clients remain at the forefront of the industry.