As per the latest research done by the Fact.MR, over the historical period of 2016-2020, the isophthalic acid industry grew at a fast pace. However, during the forecast period, the demand for isophthalic acid is projected to grow at a moderate to high CAGR and is expected to hold more than 23% consumption share in North American market. This increase is anticipated because, these Isophthalic acid has various applications in the manufacture of a variety of essential polymers.
At present, this acid is used as a base to make polybenzimidazole, a high-performance polymer. Due to these factors, this chemical has significant demand over the market.
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Segmentation Analysis of Isophthalic Acid Market
The global Isophthalic Acid market is bifurcated based on applications, end-use industry and geographic regions.
Based on Applications:
- Production of PET resin (Polyethylene terephthalate)
- Production of UPR (unsaturated polyester resin)
- Thermosetting fiber
- Powder coating
- Aerospace coating
- Process additives
- Production of coating resins
- Others
Based on End-use Industry:
- Coating
- Plastics
- Lubricants
- Packaging
- Automotive
- Others
Based on geographic regions:
- North America
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Germany
- Italy
- France
- Spain
- UK
- BENELUX
- Russia
- Rest of Europe
- East Asia
- South Asia & Oceania
- India
- Malaysia
- Thailand
- Singapore
- Australia and New Zealand (ANZ)
- Rest of South Asia & Oceania
- Middle East and Africa
- GCC Countries
- South Africa
- Turkey
- Other Africa
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Who are the Key Service Providers of Isophthalic Acid Market?
The Isophthalic Acid market is a partially consolidated, hence, the market comprises of moderate number of regional and international players at the market. Some of the leading manufacturers of this market are
- The Chemical Company
- G. International Chemical Co. Inc.
- KOHAP Corporation
- Tecnosintesi S.p.A.
- EMCO Dyestuff
- LOTTE Chemical CORPORATION
- Marubeni Europe plc
- Hefei TNJ Chemical Industry Co. Ltd.
- SILVER FERN CHEMICAL INC
- Eastman Chemical Company
- Dhalop Chemicals
- Interquisa
Key manufacturers are currently working with the aim of gaining a substantial market share, using both organic and inorganic growth strategies. The main goals were product launch, partnership, acquisition, and gradually improving their production capability.
Regional Outlook of global Isophthalic Acid Market:
China is the largest consumer of isophthalic acid, followed by Europe and North America. The isophthalic acids market is projected to see increased demand from Asia Pacific countries like India, Thailand, and Brazil where production and industry growth is accelerating. This indicates that the global isophthalic acid market is expanding significantly.
The rapid urbanization of the Middle East and Africa stimulates business growth, such as increasing demand for surface coating and resins of unsaturated polymers and others, where isophthalic acids are applied.
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The Report Covers Exhaustive Analysis On:
- Isophthalic Acid Market Drivers, Segments and Restraints.
- Isophthalic Acid Market Survey and Dynamics
- Isophthalic Acid Market Size & Demand
- Isophthalic Acid Key Trends/Issues/Challenges
- Isophthalic Acid Sales, Competition & Companies involved
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