Purified Isophthalic Acid: Introduction
- Purified isophthalic acid is an organic and colorless compound. It is an isomer of terephthalic acid and phthalic acid. Isophthalic acid that is available in a highly pure form, with purity of 99% or more, is referred to purified isophthalic acid.
- Purified isophthalic acid is extensively used in the production of various important polymers. For instance, polybenzimidazole, a high performance polymer, is produced by using purified Isophthalic acid as a precursor. Isophthalic acid is produced on the billion kilogram per year scale by oxidizing meta-xylene using oxygen. The process employs a cobalt-manganese catalyst.
- Purified isophthalic acid possesses significant properties such as hydrolytic stability, hardness, stain resistance, glossiness, corrosion resistance, and ability to process easily. This makes it highly useful in a wide range of applications such as manufacture of corrosion resistant pipes, tanks, and fiberglass reinforced plastics (FRP). These are used in coatings, automotive, and marine industries.
- Purified isophthalic acid is highly preferred for coating in the automotive industry, as polyester resins derived from purified Isophthalic acid exhibit high thermal stability and also provide significant resistance against outdoor weathering
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Key Drivers and Restraints of Global Purified Isophthalic Acid Market
- Rise in global demand for polyethylene terephthalate (PET) bottle resins is anticipated to drive the global purified isophthalic acid market during the forecast period. Purified isophthalic acid is utilized as a key ingredient in the production of PET resins. Thus, increase in the global consumption of PET is expected to offer significant opportunities to manufacturers of purified isophthalic acid in the near future. Additionally, excellent resistance properties exhibited by purified isophthalic acid are boosting the purified isophthalic acid market.
- Concerns regarding incompliance with various environmental regulations are adversely affecting the purified isophthalic acid market. Regulations that limit the use of purified isophthalic acids in consumer products are expected to hinder the global purified isophthalic acid market in the near future.
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Purified Isophthalic Acid: Application Segment
- In terms of application, the global purified Isophthalic acid market can be segmented into polyethylene terephthalate (PET) copolymer, polyester surface coating resins, and unsaturated polyester resins
- PET copolymers are widely used in bottle resins and fibers. Purified isophthalic acid decreases the crystallinity of PET, which is used to enhance the clarity and improve the productivity of bottle manufacturers. Purified isophthalic acid is used in unsaturated polyester resins to enhance the mechanical performance and thermal resistance. It is also used as a resistant to water and chemicals. In polyester surface coating resins, purified isophthalic acid increases the resistance to water, and the overall durability.
- The polyethylene terephthalate (PET) copolymer application segment is expected to expand at a healthy CAGR during the forecast period
Asia Pacific to be Key Region of Global Purified Isophthalic Acid Market
- In terms of region, the global purified isophthalic acid market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to dominate the global purified isophthalic acid market. Increase in industrial activities in emerging economies, such as China, India and Japan, is projected to boost the demand for purified isophthalic acid, as it is extensively used in the manufacture of corrosion resistant pipes and tanks.
- Rise in construction activities in the Middle East is also boosting the demand for purified isophthalic acid in Middle East & Africa
Key Manufacturers Operating in Global Purified Isophthalic Acid Market
The global purified isophthalic acid market was highly fragmented in 2019. Major players have prominent presence in developing countries. Key manufacturers operating in the global purified isophthalic acid market include:
- Lotte Chemical
- British Petroleum (BP)
- Total Petrochemicals
- A.G. International Chemical Company Inc (AGIC)
- Koch Chemical Company
- Mitsubishi Gas Chemical
- The Chemical Company
- Eastman Chemical Company
- Hefei TNJ Chemical Industry Co., Ltd.
- SILVER FERN CHEMICAL, INC
Global Purified Isophthalic Acid Market: Research Scope
Global Purified Isophthalic Acid Market, by Purity
- Purity 99%
- Purity 99.5%
Global Purified Isophthalic Acid Market, by Application
- Polyethylene Terephthalate (PET) Copolymer
- Polyester Surface Coating Resins
- Unsaturated Polyester Resins
Global Isophthalic Acid Market, by End-use
Global Purified 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
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.