World Analysis – PTA, DMT & Isophthalic Acid

  • Market Overview
  • Key Benefits
  • Service Features
  • Annual Table of Contents

Market Overview

Duration: Long-term outlook to 2050

The global terephthalic acid (TPA, or PTA in its purified form) and dimethyl terephthalate (DMT) markets are primarily the upstream raw materials for the downstream polyethylene terephthalate (commonly referred to as PET or polyester) fiber market (the most significant demand segment) and PET packaging resin markets. Polyester fibers account for almost two-thirds of total polyester production and resulting PTA demand, while the remainder is driven mainly by the packaging segment, where PET bottle resin represents a significant share. The collection of and demand for recycled polyester bottles has grown enormously. Globally, most of the collected recycle is used in the fiber industry as a low-cost substitute for virgin resin/raw materials in staple fiber – primarily fiberfill applications. There has also been substantial growth in using recycled PET packaging resin for food and beverage packaging in the West. Recycled PET (rPET) packaging resin consumed in fiber production typically has less stringent quality requirements than packaging, especially for beverages, and, therefore, requires less cleaning and is less costly than virgin materials.

The developments in PTA technology, which introduced scale and competitive costs to the product, have been instrumental in the phenomenal growth of not just PTA, but of the polyester industry as a whole. However, the recent decade will be remembered for mainland China’s complete industry domination and what we have defined as “The Rise of the Megaton” (= assets with 1 million metric tons or more capacity). Globally, most polyester is now being made from PTA. With the decline in the availability of DMT, consumers have been shifting towards PTA wherever possible. PTA has lower capital costs and better manufacturing economics and, therefore, is the preferred feedstock for nearly all terephthalate applications.

Key Benefits

Duration: Long-term outlook to 2050

The World Analysis – PTA/DMT and Isophthalic Acid provides a comprehensive analysis and key insights into critical market developments as they shape the future outlook for the global PTA and DMT markets.

The following reports, data files, analytical tools and visualization modules are available online and can be downloaded from our website:

  • Direct Access to the Subject Matter Experts
  • In-depth exploration of present market strategic insights, recognition of key challenges, and presentation of our experts’ forecasts and analysis
  • Explanatory Notes detailing data sources, methodologies, unit and conversion factors, and World Analysis deliverables.
  • Energy and Economy assumptions
  • Price, cost and margin base assumptions forecast and sensitivities analysis, including price assessment methodology, including price definitions across all regions.
  • Excel data files with standard supply/demand graphics and price forecasts extended to 2050, trade grids with country and regional trade flows Data appendix (Excel) with supply/demand, capacity and trade tables.
  • An online dashboard visualization of capacity, supply/demand, trade grids, and price, cost and margin forecasts
  • Supply/demand and capacity database access via data browser
  • Data Appendix (Excel) with supply/demand and capacity tables
  • Capacity by company/shareholder, capacity integration, top producer/consumer and surplus/deficit capacity ranking, and ownership/subsidiary information

In addition to the main products, PTA and DMT, capacity is provided for the following products:

  • Polyester polycondensation
  • Purified isophthalic acid (PIA)
  • Phthalic anhydride (PAN)

This World Analysis contains detailed information on capacities, production, demand, and trade for all significant producing and consuming countries and regions. Although data gathering is essential for understanding history and potential future trends, we believe that the interpretation and analysis of the data is the most valuable information to our clients.

Service Features

Duration: Long-term outlook to 2050


Frequency: Bi-annual
Format: Excel
Timeframe: 10-year forecasts available from periods 1990 – 2050
Area Coverage: By country/region; include “hypothetical” capacity changes in the forecast period
Chemical Coverage: DMT, PTA, Polyester Polycondensation, Purified Isophthalic Acid, Phthalic Anhydride


Frequency: Updated daily
Format: Excel
Timeframe: 10-year forecasts available from periods 1990 – 2050

  • Nameplate capacity on individual plant location by producer and by the shareholder for main study products + key derivatives
  • Integration table and top producer and consumer ranking tables (includes net surplus/deficit)
Chemical Coverage: DMT, PTA, Polyester Polycondensation, Polybutylene Terephthalate (PBT), Polytrimethylene Terephthalate (PTT), Purified Isophthalic Acid, Phthalic Anhydride


Frequency: Quarterly
Format: Excel
Timeframe: up to 2050
Area Coverage: Forecasts for US, Europe & Asia w/ qualitative sensitivities
Chemical Coverage: PTA, DMT


Frequency: Bi-annual
Format: Excel
Timeframe: 1 year of history, up to 10 years of forecast
Area Coverage: Between partner countries and by region
Chemical Coverage: PTA, DMT, Purified Isophthalic Acid, Phthalic Anhydride


Frequency: Annual
Format: PDF/HTML
Timeframe: 5-year history, forecast to 2050
Coverage: Regional market summaries

  • Production economics/snapshots for selected regions/processes
  • Production process/technology overview
Chemical Coverage: PTA, DMT


  • Access to our global team of subject matter experts
  • Interactive data visualization module (dashboard)
  • Standard supply/demand graphs
  • Data appendix with supply/demand and capacity tables
  • Supply/demand and capacity database access via data browser

Annual Table of Contents

  • Introduction 4
  • Executive Overview 5
  • Strategic Insights 10
  • Economic Forecast Update 10
  • European polyester industry faces threat of more rationalizations 10
  • Capacity overbuilding will lead to rationalization 11
  • Polyester production will drive PTA demand growth though recycling will continue to grow 12
  • Global profitability expected to be limited 12
  • North America 14
  • South America 18
  • Europe 21
  • CIS & Baltic States 26
  • Africa 29
  • Middle East 31
  • Indian Subcontinent 35
  • Mainland China 38
  • Other Northeast Asia 41
  • Southeast Asia 44
  • Production Process Overview 46
  • Purified Terephthalic Acid 46
  • Dimethyl Terephthalate 47
  • Introduction 47
  • Oxidation 48
  • Esterification 49
  • Crystallization, Centrifugation, Washing, Remelt 49
  • Production Process Economics 50
  • Explanatory Notes 50
  • Terephthalic Acid 51
  • Dimethyl Terephthalate 54
  • Price Forecast 57
  • Methodology 57
  • North America 58
  • West Europe 59
  • Asia 61
  • Price Forecast Tables 63
  • Supply/Demand Forecast Methodology 65

Market Coverage

Paint & Coating




Ashish Pujari

Ashish Pujari Vice President, Asia Aromatics & Fibers Chemical Market Analytics by OPIS

Ashish Pujari is the Vice President of Aromatics and Fibres at Chemical Market Analytics in Singapore. Ashish Pujari is the Vice President for Aromatics and Fibers in Asia. He has over 30 years of experience in the petrochemical industry, mainly focused on the polyester and raw material value chain, which stretches from project design, operations, sales & marketing and business development. Over the past 15 years, he has focused on market research and consulting for the polyester and raw material industry. He is responsible for providing thought leadership to the sector and guiding our long-term forecasts. Ashish works with the Asian petrochemicals industry and coordinates support across the value chains. His current products of focus are Paraxylene, terephthalic acid (PTA) and Polyester, covering the regional dynamics and guiding the global outlook. He also actively continues to focus on sustainability developments in the polyester sector. Ashish has also been instrumental in launching several reports, including the pricing reports for Aromatics in Asia and the Global Polyurethanes & Feedstock report. Ashish joined CMAI in 2009, with a responsibility to cover the Asian PX and polyester markets and has taken additional responsibilities through our transition to Chemical Market Analytics. Before joining CMAI, Ashish worked for Reliance Industries Ltd. (RIL) in India and was leading the M&A activity in the polyester sector at the time of his exit in 2009. Ashish joined RIL as a fresh engineer in 1994 in the project design and construction group and later progressed to operations. He also worked in sales & business development, becoming the North India regional sales lead for raw materials. Ashish holds a Bachelor of Engineering (Polymers & Chemical) from the University of Pune, India, as well as an Executive Management diploma from the Indian Institute of Management, Bangalore.  
Duncan Clark

Duncan Clark Vice President, Global Aromatics & Fibers Team Lead Chemical Market Analytics by OPIS

Duncan Clark is the Vice President of the Global Aromatics and Fibers business at Chemical Market Analytics. Duncan Clark is the vice president of Global Aromatics and Derivatives, based in Chemical Market Analytics’ London office. Duncan joined the company in 2013 as the EMEA Aromatics Director, taking over the global Aromatics team leadership in 2017. Duncan has 40 years of experience working in the global petrochemical and chemical industries in various Sales, Marketing, Corporate Business Development, Business Management and Consultancy roles. Duncan maintains a view of global developments in all major aromatics markets and works closely with petrochemical producers, consumers and financial institutions worldwide, providing insight and future expectations. He has specific expertise in the polyester feedstocks markets. He is a regular speaker at Chemical Market Analytics’ regional conferences. He leads a global team of Aromatics consultants and analysts. He is responsible for the commercial strategy and client support for a broad portfolio of Aromatics services focused on individual aromatics value chains. He also regularly forms part of the project team for Chemical Market Analytics’ single client studies. Before this, Duncan spent ten years working in an ExxonMobil / Shell joint venture company involved in fuel and lubricant additives and visited refineries worldwide. He also spent 12 years working for Air Products in various chemical and industrial gas businesses in the UK, U.S., and Netherlands. He now provides insights into the global aromatics and derivative markets, including paraxylene, purified terephthalic acid, ethylene glycols, polyurethane feedstocks, and the global benzene, toluene, and xylenes markets. Mr. Clark has a Bachelor of Science in Chemical Engineering from University College London and a Master of Business Administration from Manchester Business School.  
Marcelo Wasem

Marcelo Wasem Director, Americas Purified Terephthalic Acid | Polyethylene Terephthalate Chemical Market Analytics by OPIS

Marcelo Wasem is the Director of Americas Purified Terephthalic Acid (PTA) and Polyethylene Terephthalate (PET) at Chemical Market Analytics. Marcelo Wasem is the director of PET and PTA in North America at Chemical Market Analytics. Throughout his tenure with the company, he has shouldered diverse responsibilities spanning various product categories. With more than 20 years of industry experience, Marcelo is a pivotal asset within the organization, offering invaluable understanding and insights into the aromatics sector of the petrochemical industry. In the North America region, Marcelo collaborates closely with the petrochemical and plastic industries and brand owners, providing support and guidance across the entire petrochemical chain. His primary focus is managing the Global PET Stream reports, which delve into the Purified Terephthalic Acid (PTA) and Polyethylene Terephthalate (PET) markets. Additionally, he plays a role in developing World Analyses for PTA/DMT and Polyester, conducting supply and demand analyses, and offering price forecasts for both the short and long term. At Chemical Market Analytics, Marcelo previously covered the orthoxylene market and polyurethane feedstocks, such as propylene oxide and polyether polyols. Throughout his career, Marcelo has held various roles within the petrochemical industry, encompassing work with feedstocks, energy, and the commercialization of petrochemical products. He also worked on a project to recycle waste tires using a pyrolysis process. Marcelo holds a bachelor’s degree in plastics engineering and specializes in business finance.  

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