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 Q3 2018
Supply within the region is expected to lengthen in Q3. South Korea’s Hanwha General Chemical has resumed normal operations at its previously shut 700,000 tonne/year PTA unit located at Daesan. There are no scheduled turnarounds at PTA facilities in the key China markets, as margins are slightly above the breakeven point.
Demand is expected to slow down in Q3, with the downstream polyester sectors transiting into a seasonal lull period. Operating rates at downstream polyester facilities in the key China markets are expected to gradually dip. On-going environmental checks at polyester units are likely to limit the run rates as well.
PTA supply is expected to remain short for a while still, because of ongoing production difficulties and the time it will take for the situation to normalise. The expected July restart of the Indorama Ventures PTA plant in Portugal, while destined for EIPET in Egypt, may help to alleviate the management of merchant supply flow in Europe. Indorama Ventures would not comment on the sales aspect of the PTA plant.
PTA services the PET market, which hits peak season in the summer, at least for bottlers. Demand for European PTA may start to drop off if Asia shows signs of weakening, but the supply situation has been such that domestic PET producers may need to keep calling off product just to satisfy the highly contracted sector of the market.
US PTA supply is expected to improve during the third quarter amid the impending restart of an upstream acetic acid line, improving acetic supply and easing the pinch on PTA. A restart of an upstream paraxylene (PX) unit will also ease the market.
US PTA demand is expected to remain strong during the third quarter. The restart of the FENC plant in West Virginia will keep demand strong for PTA in the US as it has been muted since last October when the plant went off line.
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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.