Terephthalic acid Prices, markets & analysis
With a network of price reporters across Asia, Europe and the US, ICIS is fully equipped to keep you updated on everything that happens in the global Terephthalic acid market, whether you buy or sell Terephthalic acid or related products.
From daily and weekly reports containing price assessments obtained by our network of local reporters, to the news and analysis that put the market into focus, we provide the tools you need to make confident business decisions.
Terephthalic acid Overview Transcript
Terephthalic acid or PTA is made by oxidising paraxylene or PX, nearly all the pta is consumed in polyester production including fibre and yarn, polyethylene terephthalate (PET), bottle resin or polyester film.
The textile and garment industry consumes a large proportion of global PTA output.
China is the most important import market for PTA due to its huge polyester capacity, over half of the world’s total. What happens in China, sets the tone across Asia and the world.
Sentiment plays an important role in driving Asia’s PTA spot prices. It fluctuates in line with the change in PTA futures pricing traded on the Zhengzhou commodities exchange, which in turn takes its cue from crude futures prices, equity markets, Chinese economy and financial policies and the worlds economic and political environment.
While PTA futures drive sentiment and daily trading, market fundamentals of demand and supply form the basis for longer term market outlooks. PTA Supplies have generally been tight in recent years and are expected to remain snug due to fast growing polyester expansion, especially in China.
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Terephthalic acid news and market information products from ICIS
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Terephthalic acid: Market overview
Updated to Q4 2014
Asia remains the major user of purified terephthalic acid (PTA), with the main application in the polyester industry. However, due to largely weak global macroeconomic conditions, polyester demand in Asia is likely to remain flat in the fourth quarter, which will affect the demand for PTA.
Whether controlling PTA operating rates, particularly in the key China market, is sustainable remains a question, especially as Chinese producers are facing cash-flow restrictions. The current oversupply in Asia may worsen if operating rates are not maintained properly as downstream demand is expected to remain weak.
In Europe, PTA is used mainly by the polyethylene terephthalate (PET) bottle industry, with the region closely monitoring the developments in Asia. Additional PET capacity starting up in Europe this year may help absorb excess PTA supply from Asia, should the PET plants function on time and at healthy rates. However, a free trade agreement (FTA) with South Korea as well as the threat of cheap PET and PTA imports to Europe will do little to placate concerns over surplus PTA. There is also a question mark over the future of Artlant PTA plant in Sines, Portugal and when it is likely to restart.
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Terephthalic acid news & analysis
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Purified terephthalic acid Methodology
About Terephthalic acid
Purified terephthalic acid (PTA) occurs as a white, crystalline powder with a slightly acidic odour. PTA is a low-risk hazard to health but prolonged exposure should be avoided.
In addition, PTA dust can be explosive, and it reacts strongly with oxidants. The substance can irritate the eyes and skin.
Nearly all PTA is consumed in polyester production including polyester fibre, polyethylene terephthalate (PET) bottle resin and polyester film.
Modern technologies produce purified terephthalic acid by the catalytic liquid phase oxidation of paraxylene (PX) in acetic acid, in the presence of air. The process uses manganese or cobalt acetate as a catalyst.