Growing polyester fiber & yarn manufacturing industry coupled with increasing demand for packaging from food & beverages industry to drive India purified terephthalic acid market through 2025

According to TechSci Research report, “India Purified Terephthalic Acid Market By Type, By Application, Competition Forecast & Opportunities, 2013 – 2025”, purified terephthalic acid market in India is forecast to reach around $ 7.4 billion by 2025. PTA is used as a precursor in the production of polyester, several high-performance multipurpose plastics such as Polyethylene Terephthalate (PET) and Polybutyl Terephthalate (PBT). As polyester market in the country is anticipated to register strong growth, demand for purified terephthalic acid (PTA) is also expected to grow during the forecast period. Moreover, growth in the market is anticipated to be driven by increasing demand for PET Film Chips from packaging industry (food & beverages), rising demand for PET bottles for medicinal syrup packaging from the pharmaceutical industry, and strong demand for PET based paints and coatings, owing to excellent properties such as waterproofing, high gloss and good finish rendered to the end products.

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Growing textile market and increasing production of yarn with focus on the development of technical textiles is anticipated to propel the demand for PTA in India. Additionally, anti-dumping duties imposed by the Ministry of Finance on the import of PTA from China, Iran, Taiwan, Indonesia and other countries are expected to encourage the domestic production of PTA in coming years. Moreover, India is the second largest textile exporter in the world and the state government of Maharashtra is taking initiatives to establish around nine textile parks, which is expected to positively push the country’s PTA market during the forecast period.

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“West India is the largest demand generating region for purified terephthalic acid in the country, owing to the presence of huge industrial base in Gujarat and Maharashtra. The presence of large base of end use industries and proximity to seaports for better trade opportunities are expected to aid the region’s dominance in India PTA market. Most of the polyester based textile producing companies such as Reliance Industries Ltd. are clustered in the western part of India, primarily in Surat, Vapi and Ahmedabad in Gujarat, Union Territories of Silvassa and Dadra & Nagar Haveli and Nagpur in Maharashtra.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based India management consulting firm.

“India Purified Terephthalic Acid Market By Type, By Application, Competition Forecast & Opportunities, 2013 – 2025” has evaluated the future growth potential of purified terephthalic acid market in India and provides statistics and information on market size, structure and trends. The report intends to provide cutting-edge market intelligence and help decision makers to 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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