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 Q1 2015
In Europe, PTA is used mainly by the polyethylene terephthalate (PET) bottle industry, with the region closely monitoring the developments in Asia.
PTA has become more of a liquid market as a consequence of the need for imports and low global pricing. The industry is working on the assumption that Portugal’s 700,000 tonne/year Artlant PTA plant will be operational again in January. However, the question of how much it will produce and where the material will go is still open to debate.
New PET capacity in Europe may help absorb any excess PTA supply from Asia, should the PET plants function on time and at healthy rates.
In Asia, demand for PTA is expected to weaken into February due to the Chinese Lunar New Year holiday. Downstream polyester demand is expected to taper down, with end-users adjusting down their operating rates, curbing buying appetite for PTA.
Several market participants are hopeful that demand will start to pick up from end-March in the traditional peak demand season. However, a strong uptrend rally might be capped due to new PTA facilities expected to start up in the second quarter, lengthening supply.
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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.