The terephthalic acid (PTA) report is published weekly by ICIS in Asia and Europe. Our team of locally based reporters are fully equipped with market intelligence to provide reliable and trustworthy information for you to keep abreast of market movements and allow you to make informed business decisions.
The price assessments cover both the contract and spot markets, and the commentary includes news and analysis about business, demand and supply movements, upstream activity as well as general industry and economic news.
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Terephthalic acid news and market information products from ICIS
We offer the following regional Terephthalic acid analysis and news coverage to keep you informed of factors and developments affecting prices in the Terephthalic acid marketplace.
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Terephthalic acid: Market overview
Updated to Q4 2018
There are few scheduled turnarounds at PTA facilities going forward. The majority of PTA facilities have undergone turnarounds this year, especially in the key China markets. However, this could change drastically, as Chinese PTA facilities have operating rates that are margin sensitive. If the PTA futures market continues to be kept in a backwardation structure, inventories are unlikely to build at a fast pace.
Demand is likely to increase going forward as the downstream markets approach the traditional peak demand season. Towards the end of the third quarter, demand slowed, and this has kept inventories at the end markets relatively low. Thus, if demand were to pick up, this would result in some stock building purchases, further lifting demand for PTA.
PTA from the Indorama Portugal plant in Sines will be a regular sight on the market for the first time in years. It will also provide feedstock to the PET plant EIPET, an Indorama Ventures and Dhunseri joint venture. Indorama Portugal is scheduled for a maintenance shutdown at the beginning of October. PKN Orlen in Poland is also slated for a September/October shutdown.
PTA demand emanates from PET, which usually calms down in quarter four. There may be a spurt of PET pre-buying for the next season, which will result in heightened demand for PTA. Volatility in upstream values could impact on sentiment and on how much buyers are prepared to stock up on.
Supply of PTA is expected to improve in the fourth quarter as production issues from the summer months resolve. A major plant in Mexico will be back on line. Lower demand should help to mitigate any lingering tightness. Asia demand will also wane.
Demand for PTA will wane in the fourth quarter as peak bottle consumption season ends across North America when cooler weather begins. US PET producers will ease rates somewhat on reduced downstream demand. Polyester demand in Asia will also decline, helping to balance supply levels globally.
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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.