Reports and Data’s Global Isophthalic Acid Market research report is an in-depth investigation that provides an industry-wide overview of existing and emerging growth patterns, end-user analysis, and other key data that has been tested and validated by industry experts and professionals. The report examines the market in terms of importance, share, size, demand and supply, patterns, competitive landscape, industrial chain analysis, and other important factors. The report also provides a detailed outlook for the industry’s driving and restraining forces, as well as micro and macroeconomic factors that are expected to influence its development.
The global isophthalic acid market size was USD 2.75 Billion in 2021 and is expected to register a revenue CAGR of 3.9% during the forecast period. Rapid rise in demand for Polyethylene Terephthalate (PET) bottles and increasing adoption of isophthalic acid as thermal and electrical insulation coatings are factors expected to drive market revenue growth during the forecast period. Increasing demand for fibers and films made of copolyester polymers and rising demand for fire-resistant surface coatings among consumers are some other factors expected to boost market revenue growth during the forecast period.
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Leading Players– LOTTE Chemical CORPORATION, The Chemical Company, Merck KGaA, Eastman Chemical Company, International Chemical Co. (ICC), Thermo Fisher Scientific Inc., Mitsubishi Gas Chemical Company, Inc., Formosa Chemicals & Fibre Corp., Beijing Yanshan Petrochemical Company Ltd. (BYPC), and Hefei TNJ Chemical Industry Co.,Ltd.
Market Overview:
Isophthalic acid is a fragrant, colorless organic compound that normally exists as a white crystalline solid. This is an isomer of terephthalic acid and phthalic acid. It is produced by oxidizing meta-xylene in presence of a cobalt-manganese catalyst. One of the most important products of Purified Isophthalic Acid (PIA) is Polyethylene Terephthalate (PET), which is produced by the esterification reaction of a mixture of isophthalic acid and terephthalic acid with ethylene glycol. PET, in turn, is used throughout to make bottles, containers, and utensils.
The adoption of digital technologies by oil, gas, and chemical firms has been fueled primarily by cost savings and greater reliability. Many organizations in these areas saw excellent benefits from advanced market sensing, improved operational optimization, and expanded usage of “in silico” simulations. Companies’ existing digital technologies provided an advantage with the abrupt entrance of COVID-19 and the accompanying shutdown of facilities and work sites, but they were often insufficient for the level of remote working and cybersecurity that was suddenly required.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Isophthalic Acid market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Isophthalic Acid market.
Application Outlook:
- Polyethylene Terephthalate (PET) Resin Production
- Unsaturated Polyester Resin (UPR) Production
- Thermo-resistant Coating
- Thermosetting Fiber
- Copolyester Polymer
- Others
End-Use Outlook:
- Plastics
- Coating
- Fibers
- Packaging
- Lubricants
- Others
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Frequently Asked Questions Addressed in the Report:
- What is the estimated market revenue growth over the forecast period?
- What are the major factors driving the global Isophthalic Acid market revenue growth?
- Which regional market is expected to account for the largest revenue share in the global Isophthalic Acid market over the forecast years?
- Which are the leading players in the global Isophthalic Acid market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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