Focus on technical textile
Purified terephthalic acid (PTA) demand in India is projected to grow at a CAGR of 3.44% during 2019-2030 to reach 9,023 thousand tonnes by 2030 from 6,179 thousand tonnes in 2018, according to ResearchAndMarkets report.
As PTA boasts properties such as excellent weathering resistance, outstanding strength and flexibility, its usage is growing in various end-use industries such as food & beverages, electronics, apparel, home textiles, carpets and industrial fiber products.
Moreover, increasing use of PTA in the production of polyester film, cyclohexanedimethanol, terephthaloyl chloride, copolyester-ether elastomers and plasticizers is expected to aid market growth in India.
Growing textiles industry and increasing production of yarn with a focus on the development of technical textiles coupled with rising demand for paints and coatings is anticipated to propel the demand for PTA in India during forecast period, said the report “India PTA Comprehensive Techno-Commercial Market Analysis and Forecast, 2013-2030” released on 20 June 2019.
Leading PTA producers are Reliance Industries, Indian Oil Corp, MCPI and JBF Industries. fiinews.com
