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 Q3 2014
While the main output of purified terephthalic acid (PTA) goes into the polyethylene terephthalate (PET) bottle industry in Europe, the overall dominant market is Asia. Much of what happens in Europe depends on the developments in Asia, where polyester is the main application for PTA. Polyester capacity demand tends to track the GDP rate in the key China market.
Asian PTA producers are monitoring developments in the feedstock paraxylene (PX) markets. Operating rates at PTA facilities will continue to be adjusted to improve the spread between PTA and feedstock PX.
In June, the PTA market saw China implementing the cost-linked formula for their term to minimise losses.
However, going forward, the sustainability of such a solution remains unclear, especially with downstream polyester market conditions likely to remain stable-to-soft.
Additional PET capacity coming up in Europe this year may help to absorb excess PTA supply, 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 into Europe will do little to placate concerns over excess PTA availability.
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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.