Top 5 Vendors in the Global Purified Terephthalic Acid Market From 2017 to 2021 | Technavio

December 19, 2017

LONDON–(BUSINESS WIRE)–#Chemicals—Technavio
has announced the top five leading vendors in their recent global
purified terephthalic acid (PTA) market report. This market
research report also lists 16 other prominent vendors that are expected
to impact the market during the forecast period.

Competitive vendor landscape

According to the research analysis, the global
PTA market is fragmented with the presence of both large and small
vendors in the market. Different companies are trying innovative ideas
to develop new methods of producing PTA with superior performance for
different application areas. In addition, vendors are focusing on
emerging countries for untapped market opportunities. The major growth
is from Asia and developing economies such as China, India, Indonesia,
and Vietnam. The MEA and ASEAN countries are the potential markets for
PTA.

According to Mohd Shakeel Iqbal, a lead analyst at Technavio for specialty
chemicals research, “Developing economies are experiencing
significant growth in the industrial market. Large investments from
established vendors are pouring in to increase the production
capacities. New manufacturing units in these regions will cater to the
growing demand in developing economies during the forecast period.”

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Technavio market research analysts identify the following key
vendors:

The company operates globally as an integrated oil and gas company. It
operates mainly in two segments: upstream and downstream. The upstream
segment engages in the development oil and natural gas exploration,
midstream, and transportation. It is also involved in the production and
selling of liquefied natural gas (LNG) and natural gas liquid (NGL). The
company has an annual PTA production capacity of 1.4 million tons.

China Petrochemical

China Petrochemical (Sinopec Group) is an oil and energy company. It
offers household and commercial products, including oil products, fuel
cards, lubricants, liquid petroleum gas, catalyst, asphalt, and natural
gas. The company is involved in the exploration, production,
distribution, storage, and marketing of petroleum oil and natural gas.
It is also involved in oil refining and distribution of petrochemicals,
coal chemicals, and synthetic fiber products. The PTA produced by the
company is used in food and beverages packaging, paints and coating,
fabrics for textiles, and others.

Eastman

Eastman is a global company that produces a broad range of advanced
material and specialty additives products used in everyday life.
Eastman’s specialty business offers innovative products and solutions to
its customers, ensuring safety and sustainability. The PTA produced by
the company is used in automotive, polyester polyols for polyurethanes,
polyester-melamine baking enamels, polyester powder coating resins,
unsaturated polyester resins for fiberglass-reinforced plastics, and
waterborne polyester resins.

Mitsubishi Chemical Holdings

The company offers products and services based on chemistry. Its
business is segmented into electronics applications, designed materials,
healthcare, chemicals, polymers, and others. The company had signed an
agreement to sell 90% stake of its PTA plant in Haldia, India, to the
Chatterjee Group, a New York-based firm engaged in IT, real estate, life
sciences, and petrochemicals.

Reliance Industries

Reliance Industries is involved in various activities such as
hydrocarbon exploration and production, petroleum refining and
marketing, petrochemicals, retail, and telecommunications. The PTA
produced by the company is used in clothing, furniture, upholstery,
containers, and films. The company has an annual PTA production capacity
of 5 million metric tons per annum (MMTPA) out of which 4.4 MMTPA is
produced in India, and the rest is produced in Malaysia.

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