The global purified terephthalic acid market revenue is expected to expand at a lucrative CAGR over the forecast period. Growing food & beverage industry in developing economies is expected to drive revenue growth of the global purified terephthalic acid market.

The global purified terephthalic acid market report has been segmented on the basis of application, end-use, and region.

On the basis of application, the global market has been segmented into PET resins, polyester fiber, films, and others (plasticizers and polybutylene terephthalate (PBT)). The PET resins segment is projected to grow at a higher rate in the global purified terephthalic acid market over the forecast period. Growing demand for PET bottles in the beverage sector owing to its properties such as lightweight, easy to handle, non-breakable, and recyclability is expected to drive revenue growth of the segment over the forecast.

On the basis of end-use, the global purified terephthalic acid market has been segmented into textile, packaging & bottling, and home furnishing. The textiles segment is expected to grow at a steady rate over the forecast period. Purified terephthalic acid is used in the textile industry to manufacture curtains, bed sheets, and other clothes.

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On the basis of region, the global purified terephthalic acid market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America purified terephthalic acid market is expected to grow at a moderate rate over the forecast period. Growing food & beverage industry in the region is expected to support revenue growth of the target market in North America.

Key players operating in the global purified terephthalic acid market include BP p.l.c., Eastman Chemical Company, Reliance Industries Limited, China Petrochemical Corporation, MITSUBISHI HEAVY INDUSTRIES, LTD., Indorama Ventures Public Company Limited, Alpek S.A.B. de C.V., Indian Oil Corporation Limited, LOTTE Chemical CORPORATION, and Formosa Petrochemical Corporation.

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