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

Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global Isophthalic Acid market. The report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth.

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. Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the report elaborates the market behavior of each vendor operating in the Isophthalic Acid market.

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Key findings of the Isophthalic Acid market study:

• The report provides a present market outlook on Isophthalic Acid. Additionally, the Isophthalic Acid market share is anticipated to grow with a CAGR of 23% in the forecast period.
• Regional breakdown of the Isophthalic Acid market based on predefined taxonomy.
• Innovative manufacturing processes implemented by Isophthalic Acid vendors in detail.
• Region-wise and country-wise fragmentation of the Isophthalic Acid market to grasp the revenue, and growth outlook in these areas.
• Changing preferences among consumers across various regions and countries.
• Factors (Positive and Negative) impacting the growth of the global Isophthalic Acid market.
• Isophthalic Acid price, market share, and Trends forecast for assessment period 2021-2031

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
  • US
  • Canada
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Europe
  • Germany
  • Italy
  • France
  • Spain
  • UK
  • BENELUX
  • Russia
  • Rest of Europe
• East Asia
  • China
  • South Korea
  • Japan
• 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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What makes this Research different from others?

• COVID- Impact analysis- The report includes details of the impact of the pandemic on the Isophthalic Acid market further including insights on the pre-COVID situation. Additionally, this report benefits in terms of post-COVID recovery prospects, changing consumer demands, and buying patterns valuable for Isophthalic Acid companies.
• Industrial trend analysis- The research covers recent trends in the field of Isophthalic Acid which are augmented with the applicable technologies and shifts in industrial processes. The scope for digital and industrial technologies is discussed in order to help client firms to understand the benefits and risks included in light of market trends.
• Isophthalic Acid Sustainability metrics- The rising concerns of environmentally friendly production and consumption are taken to next level in this research, as research is focused on emerging methods of ensuring sustainability. These insights include climate-friendly initiatives adopted by some players in the industry. Furthermore, details of manufacturers’ impact on carbon footprint are evaluated intend to make clients aware of their contribution to sustainable development goals.

Competitive Landscape

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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