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
Asia’s purified terephthalic acid (PTA) industry will be facing a tougher year in 2014, with expected lower operating rates and deteriorating margins, because new plants are due to come on stream in the new year.
The capacity of the new plants totals more than 16 million tonnes/year, or 30% of the existing capacity in Asia. More PTA units are likely to be kept idle in 2014 to balance the expected annual demand growth rate of 6-7%.
Half of the 16 million tonne/year capacity expansion is expected to take place in the coming three months, which has exerted enormous downward pressure on market sentiment and spot PTA prices in Asia amid a seasonal lull of polyester demand in China.
In Europe, PTA monthly contracts adhere to a formula based on upstream paraxylene (PX). When applicable, spot imports arrive from Asia and Mexico. Downstream polyethylene terephthalate (PET) demand is essentially weak, so PTA and PET plants are closing down as a consequence.
Updated to mid-Jan 2014
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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.