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Terephthalic Acid Market Size Is Established To Reach USD 81.12 Billion By 2027 | Reports And Data

Reports And Data

Reports And Data

The growing application of the market product in plastics and its usage as a raw material is driving its demand.

NEW YORK CITY, NY, UNITED STATES, November 6, 2021 /EINPresswire.com/ -- Terephthalic Acid Market Size – USD 51.39 Billion in 2019, Market Growth - CAGR of 5.1%, Market Trends – High demand from the APAC region.

A global research report called Terephthalic Acid market was recently published by Reports and Data to provide guidance for business. The report also focuses on global major leading industry players of the Terephthalic Acid market providing information such as company profiles, product picture, and specification, price, capacity, cost, production, revenue, and contact information. The global Terephthalic Acid market is forecast to reach USD 81.12 Billion by 2027. Terephthalic acid is produced by the chemical synthesis of crude oil. The majority of the terephthalic acid is utilized in the production of polyester resin, which is used to manufacture polyester film, polyethylene terephthalate resin, and polyester fiber.

It is employed in the manufacture of terephthaloyl chloride, liquid crystal polymers, plasticizers, cyclohexanedimethanol, and copolyester-ether elastomers. Terephthalic acid is more cost-effective than the dimethyl terephthalate alternative for most grades of polyester used in textiles and food and beverage containers. Terephthalic Acid is used to manufacture polyester coatings resins for usage in the formulation of the appliance, general metal, industrial maintenance, automotive, and coil coatings.

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The major application of the market product is in polyester powder coating resins. Polyester fiber is made up of terephthalic acid blends with natural and synthetic fibers. They are utilized to make fabrics for apparel and home furnishings, such as bedspreads, bed sheets, draperies, and curtains.

Key participants include Sinopec Corporation, British Petroleum, SABIC, Reliance Industries Limited, Eastman Chemical Company, Indorama Ventures Public Company, Indian Oil Corporation, JBF Petrochemicals, Mitsubishi Chemical Corporation, and Lotte Chemical Corporation among others.

For the purpose of this report, Reports and Data have been segmented into the global Terephthalic Acid market on the basis of the manufacturing process, derivative, end-use industry, and region:

Manufacturing Process Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

Amoco Process

Cooxidation

Multistage Oxidation

Henkel Process

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Derivative Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

Polybutylene Terephthalate (PBT)

Dimethyl Terephthalate

Polyethylene Terephthalate (PET)

Polytrimethylene Terephthalate (PTT)

End-Use Industry Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

Packaging

Electrical and Electronics

Construction

Paints and Coatings

Textiles

Furniture

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Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

North America

U.S

Europe

U.K

France

Asia Pacific

China

India

Japan

MEA

Latin America

Brazil

Further key findings from the report suggest

The electric and electronic industry is expected to contribute towards the growth of Terephthalic Acid owing to the expansion of the power grid globally. Rapid urbanization, coupled with rising incomes in developing countries, is expected to impact market growth.

The packaging segment is expected to grow due to the rising demand for bottles and soft drinks. Terephthalic acid is used in baked goods containers, ketchup, take-out containers, jars, frozen foods, household products, juices, and carbonated drinks, bottled water, and cosmetics.

The Amoco process is widely adopted for the production of Terephthalic acid by oxidation of p-xylene using oxygen in the air. The process uses a cobalt-manganese-bromide catalyst.

Polybutylene terephthalate is a thermoplastic engineering polymer that is used as an insulator in the electrical and electronics industries. It is a thermoplastic crystalline polymer and a type of polyester.

It is used for housings in electrical engineering but also in automotive construction as plug connectors and in households. It is also found processed into fibers in toothbrushes, false eyelashes and is also used in keycaps of some computer keyboards.

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