British Petroleum (UK) and Reliance Industries Limited (India) Key Players in the Purified Terephthalic Acid (PTA) Market

November 26 16:32 2021
British Petroleum (UK) and Reliance Industries Limited (India) Key Players in the Purified Terephthalic Acid (PTA) Market
Browse 90 market data Tables and 40 Figures spread through 139 Pages and in-depth TOC on “Purified Terephthalic Acid (PTA) Market”
Purified Terephthalic Acid (PTA) Market by Application (Polyester, Polybutylene Terephthalate, Plasticizers), and Region (Asia Pacific, North America, Europe, Middle East & Africa, South America)

The Purified Terephthalic Acid (PTA) market is estimated to be USD 48.14 Billion in 2018 and is projected to reach USD 61.78 Billion by 2023, at a CAGR of 5.1% from 2018 to 2023. PTA is an organic compound produced commercially through the oxidation of paraxylene. A majority of PTA is consumed in the development of polyester resins, such as polyester films, polyester fiber & yarn, and PET material bottles. 

The increase in demand for polyester resins to manufacture polyester fiber & yarn is fueling the growth of the purified terephthalic acid market. However, the overcapacity of PTA in China is acting as a restraint to the growth of the purified terephthalic acid market.

Reliance Industries Limited (India), Sinopec Corporation (China), British Petroleum (UK), Indorama Ventures Public Company (Thailand), SABIC (Saudi Arabia), and Jiaxing Petrochemical Co., Ltd. (China) are key players operating in the purified terephthalic acid market. These companies are focused on expanding their product portfolios to compete with other key market players.

To know about the assumptions considered for the study, download the pdf brochure

British Petroleum (BP) is one of the major oil & gas companies worldwide. The company operates in all areas of the oil & gas industry that include refining, exploration & production, distribution & marketing, power generation, petrochemicals, and trading. It has its operations in Europe, the Americas, Asia, Australia, and Africa. More than 70% of its revenue is generated from Europe and the US.

In July 2015, BP Zhuhai, a joint venture between BP and Zhuhai Port Co., established a new PTA plant in China. This plant will have an annual PTA production capacity of more than 1.25 MT. In November 2014, BP invested USD 200.0 million in its PTA plants located at Cooper River (South Carolina) and Geel (Belgium). This expansion strategy enabled BP to address the increasing demand for PTA from the polyester industry in the US and Belgium.

Reliance Industries Limited, another key player in the purified terephthalic acid market, operates through the following business segments that include refining & marketing, petrochemicals, oil & gas exploration & production, retail, and others. The petrochemicals segment of the company carries out marketing operations and is involved in the production of polypropylene, polyethylene, polyvinyl chloride, polyester fibers, polyester yarn, polybutadiene rubber, purified terephthalic acid, paraxylene, ethylene glycol, aromatics, linear alkyl benzene, olefins, acrylonitrile, caustic soda, and polyethylene terephthalate.

In April 2015, Reliance Industries Limited expanded its purified terephthalic acid plant in Dahej, Gujarat.  The plant with a capacity of 1,150 KTA is built with INVISTA technology. This expansion strategy enabled the company to increase its PTA capacity by 3.2 MMTPA and the global capacity share by 4%.

Request for Sample Report:

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States