FEATURED COMPANIES
- British Petroleum
- Eastman Chemical Company
- Exxonmobil
- Koch Chemical Company
- Perstorp
- Total Petrochemicals
The surging demand for polyethylene terephthalate PET bottle resins, excellent resistance properties of isophthalic acid, and the growing industrialization are driving the market demand.
Market Size ‒ USD 1.37 Billion in 2019, Market Growth ‒ CAGR of 6.0%, Market Trends ‒ Increased requirements from end-use industries
The Global Isophthalic Acid market is presumed to garner a revenue of USD 2.22 Billion by 2027, with a CAGR of 6.0% throughout the estimated timeframe. The industry growth can be credited to the extensive requirement for PET bottles and containers from various end-user industries, explicitly manufacturing detergents, cosmetics, pharmaceutical products, and soft drinks. The increased demand for isophthalic acid can also be accredited to its extensive use in the manufacturing of commercially important polymers. For instance, isophthalic acid is used as a precursor for polybenzimidazole production, a high-performance polymer.
A pure form of isophthalic acid is also available in the market, with a 99% or more purity ratio, and is generally called Purified Isophthalic Acid PIA. Vital properties of isophthalic, such as corrosion resistance, stain resistance, hydrolytic stability, and glossiness, among others, have increased its application in a broad spectrum of industries such as corrosion-resistant tanks, pipes, the coatings industry, the automotive sector, and the marine industry. However, stringent policies and regulations set by REACH and EPA are anticipated to restrain the market's growth.
The Asia Pacific region is projected to show substantial growth during the estimated timeframe and is presumed to be the critical revenue-generating region on a global scale. The market in APAC is presumed to proliferate at a CAGR of 6.2%, majorly boosted by the expanding production of PET bottle resins in APAC regions such as China and India. North America is predicted to witness a steady growth rate due to the massive production of PET bottle resins in the United States.
Further Key Findings From the Report Suggest:
For the purpose of this report, the Global Isophthalic Market has been segmented based on type, physical state, grade, application, end-user industry, and region:
Type Outlook Volume, Kilo Tons; Revenue, USD Million; 2017-2027
Physical State Outlook Volume, Kilo Tons; Revenue, USD Million; 2017-2027
Grade Outlook Volume, Kilo Tons; Revenue, USD Million; 2017-2027
Application Outlook Volume, Kilo Tons; Revenue, USD Million; 2017-2027
End-User Industry Outlook Volume, Kilo Tons; Revenue, USD Million; 2017-2027
Regional Outlook Volume, Kilo Tons; Revenue, USD Million; 2017-2027
Reasons to Buy the Report
Market Size ‒ USD 1.37 Billion in 2019, Market Growth ‒ CAGR of 6.0%, Market Trends ‒ Increased requirements from end-use industries
The Global Isophthalic Acid market is presumed to garner a revenue of USD 2.22 Billion by 2027, with a CAGR of 6.0% throughout the estimated timeframe. The industry growth can be credited to the extensive requirement for PET bottles and containers from various end-user industries, explicitly manufacturing detergents, cosmetics, pharmaceutical products, and soft drinks. The increased demand for isophthalic acid can also be accredited to its extensive use in the manufacturing of commercially important polymers. For instance, isophthalic acid is used as a precursor for polybenzimidazole production, a high-performance polymer.
A pure form of isophthalic acid is also available in the market, with a 99% or more purity ratio, and is generally called Purified Isophthalic Acid PIA. Vital properties of isophthalic, such as corrosion resistance, stain resistance, hydrolytic stability, and glossiness, among others, have increased its application in a broad spectrum of industries such as corrosion-resistant tanks, pipes, the coatings industry, the automotive sector, and the marine industry. However, stringent policies and regulations set by REACH and EPA are anticipated to restrain the market's growth.
The Asia Pacific region is projected to show substantial growth during the estimated timeframe and is presumed to be the critical revenue-generating region on a global scale. The market in APAC is presumed to proliferate at a CAGR of 6.2%, majorly boosted by the expanding production of PET bottle resins in APAC regions such as China and India. North America is predicted to witness a steady growth rate due to the massive production of PET bottle resins in the United States.
Further Key Findings From the Report Suggest:
- The packaging industry is presumed to contribute to the market's largest share, reporting a CAGR of 6.1% throughout the projected timeframe. This can be accredited to the widespread application of isophthalic acid in manufacturing polymers used for packaging in various end-use verticals.
- Based on applications, the PET copolymers segment is estimated to hold a substantial share of the market attributed to their increasing use in the development of PET bottle resins used for producing soft drink bottles and packaging of detergents cosmetics. Moreover, the rising consumption of PET is speculated to create lucrative opportunities for the industry's key manufacturers.
- Based on the grade, technical grade isophthalic acid is projected to register the fastest growth with a CAGR of 5.9% during the projected timeline. This is due to its extensive application in various industries and laboratories.
- Based on the physical state, the powder form is presumed to register significant growth during the estimated timeframe owing to the surging application of the powder form of isophthalic acid in several industrial and manufacturing processes. The segment is forecast to report a CAGR of 6.1% throughout the estimated timeline.
- Key players operating in the industry include ExxonMobil, Mitsubishi Gas Chemical Company, Versalis S.P.A Lotte Chemical Corporation, Koch Chemical Company, British Petroleum, Perstorp, Total Petrochemicals, AG International Chemical Company Inc., and Eastman Chemical Company, among others.
For the purpose of this report, the Global Isophthalic Market has been segmented based on type, physical state, grade, application, end-user industry, and region:
Type Outlook Volume, Kilo Tons; Revenue, USD Million; 2017-2027
- 99% Pure
- 5% Pure
- Others
Physical State Outlook Volume, Kilo Tons; Revenue, USD Million; 2017-2027
- Liquid
- Powder
- Crystal
Grade Outlook Volume, Kilo Tons; Revenue, USD Million; 2017-2027
- Industrial
- Reagent
- Technical
- Others
Application Outlook Volume, Kilo Tons; Revenue, USD Million; 2017-2027
- Amorphous Polyamide Resins
- Unsaturated Polyester Resin
- Surface Coating Resins
- PET Copolymer
- Others
End-User Industry Outlook Volume, Kilo Tons; Revenue, USD Million; 2017-2027
- Automotive
- Paint
- Packaging
- Coating
- Chemical
- Plastic
- Others
Regional Outlook Volume, Kilo Tons; Revenue, USD Million; 2017-2027
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Latin America
- Brazil
- Middle East & Africa
Reasons to Buy the Report
- A robust analysis and estimation of the Isophthalic Acid Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
- A holistic competitive landscape of the all the major players in Isophthalic Acid market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
- Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
- Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
- Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- British Petroleum
- Eastman Chemical Company
- Exxonmobil
- Koch Chemical Company
- Perstorp
- Total Petrochemicals
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Isopthalic Acid Market Segmentation & Impact Analysis
Chapter 5. Isopthalic Acid Market Type Insights & Trends
Chapter 6. Isopthalic Acid Market Physical State Insights & Trends
Chapter 7. Isopthalic Acid Market Grade Insights & Trends
Chapter 8. Isopthalic Acid Market Application Insights & Trends
Chapter 9. Isopthalic Acid Market End-use Industry Insights & Trends
Chapter 10. Isopthalic Acid Regional Outlook
Chapter 11. Competitive Landscape
Chapter 12. Company Profiles
Note: Product cover images may vary from those shown
- Mitsubishi Gas Chemical Company
- Lotte Chemical Corporation
- British Petroleum
- Exxonmobil
- Perstorp
- Total Petrochemicals
- Eastman Chemical Company
- Koch Chemical Company
- AG International Chemical Company Inc.
- Versalis S.P.A
Note: Product cover images may vary from those shown