According to TechSci Research report, “India Purified Terephthalic Acid Market By End Use (Polyester Fiber and Yarn, PET Resin, Polyester Film, Others), By Sales Channel (Direct Company Sale, Direct Import, Distributors/Traders), By Region (North, East West, South), Competition, Forecast & Opportunities, 2016-2035F” The India purified terephthalic acid market demand was assessed at USD5458.38 million in 2022 in the forecast period. Consumption of food and beverages, clothing, pharmaceuticals, alcohol, and other products has increased in India because of expanding urbanization, industrialization, rising disposable income, and changes in people’s lifestyle. Furthermore, higher demand for packaging and textile materials results from increased fashion sales via e-commerce platforms. The packaging and bottling sectors’ increasing need for polyethylene terephthalate is expected to enhance purified terephthalic acid sage, propelling the India purified terephthalic acid market to new heights through 2035.
Polyester powder coating resins, manufactured from pure terephthalic acid (PTA), are used to make general metal appliances, cars, industrial maintenance, and coil coatings. Polyester fibers can be found in many products, including clothes and home furnishings such as bedsheets, bedspreads, curtains, and draperies. Purified Terephthalic Acid is used to make polyester fibers and yarn. Polyester fibers are man-made fibers that are gaining popularity in the textile business due to their recyclability, versatility, and cheaper cost than other fibers. However, fluctuating crude oil prices (paraxylene), poisonous nature and certain impositions by government on purified terephthalic acid are major factors that are negatively affecting purified terephthalic acid market.
Browse over 12 market data Figures spread through 88 Pages and an in-depth TOC on “India Purified Terephthalic Acid Market”
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Key Market Segments
By End-Use
- Polyester Fiber and Yarn: Dominates the market with a share of 59.60% in 2022.
- PET Resin
- Polyester Film
- Others
By Sales Channel
- Direct Company Sale
- Direct Import
- Distributors/Traders
By Region
- North
- East
- West: Held over four-fifths of the market share in 2022.
- South
Recent Trends
Increasing E-commerce Influence
The rise of e-commerce platforms has significantly increased the demand for packaging materials. Polyester fibers and yarns, essential for packaging and textiles, are experiencing higher demand due to the convenience and extensive reach of online shopping.
Technological Innovations
Technological advancements in polyester production and recycling processes have led to increased efficiency and reduced costs. The development of advanced polyester powder coating resins for metal appliances, automotive, industrial maintenance, and coil coatings exemplifies such innovations.
Growing Environmental Awareness
The textile industry is increasingly focusing on sustainability. Polyester fibers, being recyclable and versatile, align with these sustainability goals, driving their popularity.
Market Drivers
Urbanization and Industrialization
Rapid urbanization and industrialization are key drivers of market growth. These factors contribute to increased consumption of consumer goods, thereby escalating the demand for packaging and textile materials.
Rising Disposable Incomes
Higher disposable incomes allow consumers to spend more on clothing, food, beverages, and pharmaceuticals, directly impacting the demand for PTA.
Healthcare Industry Expansion
The healthcare sector’s expansion, especially during the COVID-19 pandemic, has increased the demand for PTA for producing personal protective equipment (PPE) and other medical textiles.
Challenges
Fluctuating Crude Oil Prices
The volatile nature of crude oil prices affects the production costs of PTA, as paraxylene, a derivative of crude oil, is a primary raw material.
Environmental Regulations
Stringent environmental regulations concerning the production and disposal of PTA pose challenges for market growth.
Regional Analysis
West India
West India dominated the market in 2022, largely due to the presence of major e-commerce packaging, textile industries, and other manufacturing sectors. This region is expected to maintain its dominance through the next five years.
Competitive Analysis
The India purified terephthalic acid market is highly competitive, with several key players:
- Reliance Industries Limited
- Indian Oil Private Limited
- MCPI Private Limited
- Indorama Ventures Public Company Limited
- INEOS Aromatics Limited
These companies are focusing on expanding their production capacities and investing in research and development to maintain a competitive edge.
Benefits of the Research Report
- Comprehensive Market Insights: Provides detailed information on market size, structure, and future growth potential.
- In-depth Analysis: Offers a thorough analysis of market trends, drivers, challenges, and opportunities.
- Competitive Landscape: Includes detailed profiles of major market players and their strategies.
- Segmentation Analysis: Breaks down the market into various segments for a clearer understanding.
- Regional Insights: Provides detailed regional analysis and forecasts.
- Technological Trends: Highlights recent technological advancements and innovations in the market.
- Regulatory Environment: Discusses the impact of environmental regulations on the market.
- Market Forecasts: Provides forecasts up to 2035, helping stakeholders make informed decisions.
- Investment Opportunities: Identifies potential investment opportunities in the market.
- Customization: Offers customization options for the report to meet specific requirements.
Major market players operating in the India purified terephthalic acid market are:
- Reliance Industries Limited
- Indian Oil Private Limited
- MCPI Private Limited
- Indorama Ventures Public Company Limited
- INEOS Aromatics Limited
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The India purified terephthalic acid market is poised for significant growth, driven by factors such as rapid urbanization, rising disposable incomes, and expanding industrial sectors. Despite challenges like fluctuating crude oil prices and stringent environmental regulations, the market’s future looks promising due to technological innovations and increasing demand from various end-use industries. Strategic investments and continuous R&D efforts by major market players will further bolster market dynamics.
“Purified Terephthalic Acid Market – India Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027Segmented By Sales Channel (Direct Company Sale, Direct Import, Distributors/Traders), By End User (Polyester Fiber and Yarn, PET Resin, Polyester Film, Others), By Region (West, South, North, East), By Company”, has evaluated the future growth potential of India purified terephthalic acid market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India purified terephthalic acid market.
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