Demand in the global PTA market (Purified Terephthalic Acid) is forecast to grow to a total volume of around 66 million tons by the end of 2020. This suggests a CAGR volume growth rate of around 5.3% between 2011 and 2020. Asia-Pacific is expected to account for around 82% of demand in the industry, making it the largest region for PTA. The market will also be driven by North America (6% demand) and Europe (5%), followed by Latin America (4%) and the Middle East and Africa (3%).
The Asia-Pacific region will continue to be the largest market in the world for Purified Terephthalic Acid (PTA) by 2020, thanks to the region's improving living standards, cross-industry usage of PTA products and expanding manufacturing industries.
PTA is a chemical derived from crude oil that is mainly used to produce Polyester Fiber, which textile and home furnishing industries require to produce garments such as clothes, curtains and bed sheets.
China has emerged as a global textile manufacturing hub because production in the country benefits from low-cost labor. With more PTA plants planned for installation in the region, Asia-Pacific is expected to drive and dominate the PTA market for the foreseeable future.
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