Isophthalic Acid Market: Overview
- Isophthalic acid is a colorless organic compound, which is an isomer of terephthalic acid and phthalic acid. Isophthalic acid is also available in a highly pure form, with a purity of 99% or more, which is referred to as Purified Isophthalic Acid (PIA). Isophthalic acid is extensively utilized in the production of various important polymers. For instance, polybenzimidazole, a high performance polymer, is produced by using isophthalic acid as a precursor.
- Properties of isophthalic acid, such as hydrolytic stability, hardness, stain resistance, glossiness, corrosion resistance and ability to easily process, make it highly useful in a wide range of applications, such as the manufacture of corrosion resistant pipes, tanks, and fiberglass reinforced plastics (FRP), which is utilized in coatings, automotive, and marine industries. Isophthalic acid is highly preferred for coating by these industries, as polyester resins derived from isophthalic acid exhibit high thermal stability and also provide significant resistance against outdoor weathering.
Key Drivers of Global Isophthalic Acid Market
- Demand for isophthalic acid market is anticipated to be driven largely by a rise in the demand for polyethylene terephthalate (PET) bottle resins globally. Isophthalic acid is utilized as a key ingredient in the production of PET resins. Thus, an increase in the global consumption of PET is expected to offer significant opportunity to manufacturers of isophthalic acid in the near future. Additionally, the excellent resistance properties exhibited by isophthalic acid are attracting a large number of customers for global isophthalic acid players.
- Increasing demand from end-use industries such as construction, automotive, and marine is expected to boost the isophthalic acid market during the forecast period
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Coating Segment to Dominate Global Isophthalic Acid Market
- Rising demand for polyesters containing isophthalic acid, which are widely utilized in industrial coatings applications for automobiles, home appliances, aluminum siding, and metal office furniture, is projected to augment the isophthalic acid market. Isophthalic acid is also employed as an intermediate for polyesters, polyurethane resins, and plasticizers.
Global Isophthalic Acid Market: Restraints
- Reduced degradability of isophthalic acid derived resins, due to their high durability and resistance to wear and tear, is a key factor boosting sales of isophthalic acid globally. However, it also raises concerns regarding complicity with various environmental regulations, which are trying to protect the environment and prevent the use of such polymers. Therefore, regulations that limit the use of isophthalic acids in consumer products are expected to hinder the global isophthalic acid market.
Asia Pacific to hold significant share of global isophthalic acid market
- In terms of region, the isophthalic acid market can be split into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- Asia pacific is expected to dominate the global isophthalic acid market. Increasing industrial activities in emerging economies, such as China, is projected to boost the demand for isophthalic acid, as it is extensively utilized in the manufacture of corrosion resistant pipes and tanks.
- Rise in construction activities in the Middle East is also boosting the demand for isophthalic acid from the surface coating and unsaturated polyester resins market.
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Key players operating in global market
Key players operating in the global market include:
- LOTTE Chemical CORPORATION
- The Chemical Company
- Eastman Chemical Company
- G. International Chemical Co. Inc
- KOHAP Corporation
- EMCO Dyestuff
- Marubeni Europe plc
- Hefei TNJ Chemical Industry Co.,Ltd.
- SILVER FERN CHEMICAL, INC
- Tecnosintesi S.p.A.
- Dhalop Chemicals
Global Isophthalic Acid Market: Research Scope
Global Isophthalic Acid Market, by 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
Global Isophthalic Acid Market, by End-use Industry
Global Isophthalic Acid Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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