For the Quarter Ending June 2025
Asia-Pacific (APAC)
• PTA Price Index in APAC declined by 2.8% quarter-on-quarter amid weak demand and inventory overhang, but prices recovered in June. PTA Ex-Qingdao settled at USD 616/MT by end-June 2025.
• Prices remained volatile through Q2 2025. After dipping in April, prices surged 6.7% in late June, driven by a sharp 7% rise in upstream crude oil and tight spot availability despite weak downstream polyester demand.
• Why did the price of PTA change in July 2025 in China? Prices remained range-bound in early July as supply expanded with new production units restarting, while soft textile and polyester demand limited bullish momentum. Crude oil cost support kept prices from falling further.
• The PTA Production Cost Trend was shaped by rising crude oil prices and improving plant utilization. Restart of major units like Zhongjin and Zhejiang Petrochemical and new capacity from Honggang pushed operating rates to ~83%, easing earlier supply tightness.
• PTA Demand Outlook was soft in Q2. Downstream polyester and textile sectors saw declining operating loads, cautious procurement, and high inventories. A brief demand uptick in May from soft drink bottlers and export orders faded by June amid the Dragon Boat Festival lull.
• Export momentum of PTA was sluggish due to elevated shipping costs and volatile freight rates, prompting foreign buyers to adopt a wait-and-see approach.
• Domestic procurement in China was cautious and inventory-driven, with converters purchasing only essential volumes due to the uncertain macroeconomic outlook and seasonal textile slowdown.
North America
• PTA Price Index in North America increased marginally by 0.8% quarter-on-quarter. However, Prices held steady throughout Q2 2025, with PTA FOB Charleston settling at USD 1289/MT by the end of June. Despite fluctuations in crude oil, overall market sentiment kept pricing neutral.
• Prices remained stable during Q2 amid a muted downstream response. The expected surge in PTA demand during the US beverage season failed to materialize, while downstream polyester run rates hovered near 90% but with limited procurement. A 12-week sideways trend persisted, supported by sufficient supply.
• Why did the price of PTA change in July 2025 in the USA? In early July, PTA prices remained range-bound due to weak demand and ample inventory. While Force Majeure events at DAK Americas and Eastman Chemical caused short-term supply disruption, the lack of downstream momentum and balanced feedstock flows prevented any significant price movement.
• The PTA Production Cost Trend was influenced by falling crude oil prices, ample stored inventories, and stable operations despite port congestion. No major shutdowns occurred, though storms caused temporary logistics delays.
• PTA Demand Outlook remained weak. Domestic converters showed limited buying interest amid macroeconomic uncertainty, high freight rates, and sluggish polyester and packaging sector performance.
• The export momentum of PTA was minimal due to uncompetitive prices and tariff uncertainty.
• Domestic procurement in the USA was conservative, driven by economic caution, inventory reliance, and seasonal off-peak demand.
Europe
• PTA Price Index in Europe decreased by 3.2% over Q2 2025 as compared with Q1. Prices remained stable in late June at USD 785/MT, FD Hamburg.
• Prices remained stable in June amid steady feedstock availability and subdued downstream demand. Converters held sufficient PTA stock (3–4 weeks), dampening fresh procurement.
• Why did the price of PTA change in July 2025 in Europe? PTA prices held flat despite port congestion and delayed deliveries across Northern Europe. The absence of refinery shutdowns and muted downstream orders from the PET, textiles, and automotive sectors offset supply-side constraints.
• The PTA Production Cost Trend was influenced by fluctuating upstream crude oil prices and increased freight rates during May, which surged the price trend. Despite logistical bottlenecks and rising costs, domestic PTA availability remained high due to ample inventories, which kept the overall quarter decline.
• PTA Demand Outlook was bearish. Weak polyester and packaging demand, paired with cautious post-Eid trading behavior and volatile freight rates, kept buyers on the sidelines.
• The export momentum of PTA declined amid high shipping costs and minimal overseas demand.
• Domestic procurement in Europe remained cautious, shaped by economic uncertainty, inflation, and a preference for virgin PET over recycled alternatives.
For the Quarter Ending March 2025
North America
In Q1 2025, the North American PTA prices showcased volatility shaped by shifting demand patterns and external challenges. January began with a rise in restocking activity, driven by optimism and new orders from downstream sectors. However, demand quickly softened once inventories were replenished, especially from the polyester sector. Despite this, PTA prices in the USA held steady during January due to port congestion caused by extreme winter.
By early February, PTA prices began to rise as supply constraints worsened. Several PTA plants in the U.S. declared force majeure due to flooding and severe weather, tightening availability even further. Manufacturing costs stayed high amid rising feedstock costs, particularly for propylene and paraxylene, which added to the strain on PTA margins.
Demand for PTA from the polyester sector remained subdued throughout the quarter amid cold weather in the U.S. slowed weaving operations. Inventories at converter facilities were high, and purchases were mostly limited to immediate production needs. Similarly, the packaging sector faced muted demand due to seasonal slowdowns and tariff uncertainties, with minimal spot market activity.
APAC
The first quarter of 2025 saw PTA prices in the APAC region, characterized by decreasing prices, followed by an uptrend. January began with a rebound in PTA prices in Thailand, driven by tight supply from China and a surge in restocking ahead of the Lunar New Year. Traders were active despite weaker performance in the polyester and packaging industries. The market remained supported by increased manufacturing costs due to rising feedstock prices and limited availability caused by vessel delays and freight disruptions. Quarterly, PTA prices in the USA have increased by 2.2% as compared to the fourth quarter of 2024. In March, the PTA prices in Thailand saw continued softness. Demand from downstream sectors such as polyester and packaging remained weak throughout March. Polyester processors operated at reduced rates, dealing with sluggish orders and high inventories. The packaging industry also showed little improvement, as trade uncertainties and seasonal sluggishness limited buyer interest. Meanwhile, a significant drop in upstream crude oil prices and reduced freight costs made imports cheaper, leading to more competitive market conditions.
Europe
In Q1 2025, the European PTA prices witnessed an increasing trend of 1.1% as compared to the fourth quarter of 2024. In January, despite the soft demand, PTA prices in Germany remained relatively firm, mainly supported by reduced production and limited supply. Several PTA plants in Europe, including Germany, experienced shutdowns due to high production costs and harsh winter weather, tightening the supply. Additionally, delays caused by port congestion and disrupted trade routes, particularly around the Cape of Good Hope, contributed to this supply squeeze. These logistical challenges, combined with increased freight charges, reduced spot market activity and pushed prices up. In February, feedstock costs such as propylene and paraxylene rose sharply, leading to higher manufacturing expenses for PTA producers. Although polyester operating rates remained low and demand did not pick up significantly, the ongoing shortage in raw material availability kept the market tight. Meanwhile, interest in recycled PET (r-PET) showed signs of growth, driven by new EU regulations encouraging the use of recycled content in packaging. This shift brought a slight uplift in PTA demand linked to recycled production chains.
For the Quarter Ending December 2024
North America
In Q4 2024, the North American Purified Terephthalic Acid (PTA) market witnessed a significant decline in prices. During October 2024, PTA prices in the USA experienced a sharp decline despite a high volume of trading activity. A surge in offers at lower price points attracted significant demand from processors, who eagerly sought discounted material. This influx of competitively priced offers boosted market sentiment. Moreover, increasing PTA inventories across the domestic market exacerbated the downward pressure on prices, leading to a decline in market sentiment.
However, any improvement was constrained by supply chain disruption due to labor strikes and high polyester operating rates. These counterbalancing factors ultimately led to stable PTA prices during November.
Henceforth, the overall market was weighed down in December by sluggish demand as several buyers were prompting cautious trading behavior among market participants due to the destocking procedure. Moreover, rising inventories of polyester products such as partially oriented yarn (POY), drawn textured yarn (DTY), and fully drawn yarn (FDY) showcased low demand for PTA.
APAC
The fourth quarter of 2024 has been challenging for the Purified Terephthalic Acid (PTA) market in the APAC region, characterized by decreasing prices. The decline in PTA prices in October was not driven by a decrease in orders but rather by increased supply. Manufacturers, faced with ample inventory, offered significant promotional discounts to stimulate demand. This competitive pricing environment led to lower quoted prices, contributing to the overall price decline of PTA. Moreover, the upstream crude oil prices have continued to decline which lowered the manufacturing costs during this period. While the completion of maintenance activities is expected to increase PTA plant operating rates in mid-to-late November, the overall market remains subdued. Sufficient spot supply and the off-peak season for polyester demand are limiting upward price momentum. Additionally, declining prices for Asian downstream PET resin have eroded the margins of PTA producers. Consequently, the overall market experienced subdued demand as several buyers adopted a cautious trading approach due to ongoing destocking activities.
Europe
In Q4 2024, the European Purified Terephthalic Acid (PTA) market witnessed a decrease in prices. In October, prices plummeted despite high trading activity. A competitively priced offer from sellers enticed processors, driving prices down. While reduced plant operating rates were expected to tighten supply, ample availability and aggressive discounting by manufacturers negated this effect. Furthermore, mounting PTA inventories within the domestic market exerted significant downward pressure. The sluggish Euro economy and tepid end-user demand, a post-summer slump persisted, have further dampened domestic consumption of downstream PET. The intense Asian competition among suppliers has led to steep discounts, further exacerbating the price decline in Europe. Moreover, the market entered a period of sluggishness in December. Destocking activities by buyers instilled caution amongst market participants, leading to subdued demand. This trend was further exacerbated by rising inventories of key polyester products such as partially oriented yarn (POY), drawn textured yarn (DTY), and fully drawn yarn (FDY), indicating weak downstream demand and consequently, a diminished appetite for PTA.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American Purified Terephthalic Acid (PTA) market witnessed a significant decline in prices, reflecting a challenging pricing environment. This decrease was primarily influenced by several key factors. Weak demand from downstream industries, such as plastics and textiles, contributed to the downward pressure on prices.
Additionally, oversupply in the market due to resumed plant operations and excess material from international sources further dampened price levels. Despite the logistical disruptions caused by hurricanes and transportation, the low consumer enthusiasm offset any upward price trajectory during third quarter.
Focusing specifically on the USA, the market experienced the most significant price changes in the region. Moreover, there was a 2% decrease from the previous quarter in 2024, highlighting a continued downward trajectory. The first half of the quarter showed a price comparison with the second half at -2%, demonstrating a consistent decrease in pricing over the period. The quarter-ending price for PTA in the USA stood at USD 1390/MT, reflecting the prevalent negative sentiment.
APAC
The third quarter of 2024 has been challenging for the Purified Terephthalic Acid (PTA) market in the APAC region, characterized by decreasing prices. The monsoon season has somewhat increased the disruption, leading to low inventory levels along with the high production costs due to rise in feedstock Propylene during July 2024 which marginally increased the price trend. However, several significant factors have declined market prices during August 2024, including subdued demand from downstream industries, low consumer spending sentiment, and weak orders from the polyester sector. In addition, a drop in freight rates from high levels significantly offset any possible price hikes during this period. Prices were further pressured by the excess material in the neighbouring countries which created market competitive during September 2024. Japan, in particular, has experienced the most significant price changes during this period. The second half of the quarter saw a further decline of -3% in prices. The quarter-ending price of USD 576/MT of Purified Terephthalic Acid (PTA) FOB Tokyo in Japan reflects the overall negative trend in pricing, with a consistent decrease in sentiment and a challenging market environment.
Europe
In Q3 2024, the European Purified Terephthalic Acid (PTA) market witnessed a decrease in prices, followed by an uptrend. During July 2024, PTA prices increased despite sluggish demand from the downstream polyester industry due to its offseason. While new orders for plastic downstream products remained weak, and most downstream production barely generated profits. However, the European market for the downstream PET market has seen a surprising shift in recent weeks. While sustainability efforts have pushed for increased use of recycled PET, a change in pricing dynamics has caused a swing back towards virgin PET which certainly increased the inquiries for PTA in Europe. Furthermore, PTA's production costs have increased because of rising crude oil prices, putting upward pressure on imported prices. However, PTA prices in Germany dropped in September 2024 due to a decline in the downstream polyester demand at popular export destinations and continued to soften amid a lack of market activity during the summer season. Although Europe has faced transportation issues due to the Red Sea, the supply of PTA was unaffected due to the resumption of operations at several plants, following maintenance shutdowns, which led to an oversupply of PTA in the domestic market.
Frequently Asked Questions (FAQs):
1. What is the current price of PTA in APAC?
By the end of Q2 2025, PTA prices in China stood at approximately USD 616/MT Ex-Qingdao.
2. What is the current price of PTA in North America?
By the end of Q2 2025, PTA prices in the USA stood at approximately USD 1289/MT FOB Charleston.
3. What is the current price of PTA in Europe?
By the end of Q2 2025, PTA prices in Germany stood at approximately USD 785/MT FD Hamburg.
4. Why did PTA prices change in July 2025?
• APAC: Prices remained range-bound as restarts of production units increased supply. However, sluggish polyester and textile demand capped gains. Rising crude oil costs provided downside protection.
• North America: Prices held flat in early July. While Force Majeure events disrupted supply, weak downstream demand, ample inventories, and balanced feedstock availability prevented price hikes.
• Europe: Prices were unchanged due to persistent demand weakness in PET and textiles. Port congestion and logistical issues failed to lift prices as buyers continued to purchase conservatively amid inflation and economic uncertainty.
