Isophthalic Acid Market Growth Powered with Latest Development Scenario and Influencing Trends
Seattle, WA -- (SBWire) -- 11/15/2019 --Isophthalic Acid Market – Insights
A colorless and solid organic compound with a slight unpleasant odor and benzene substituted by carboxy groups at position 1 and 3 is called isophthalic acid. It is used as a component of polyethylene terephthalate (PET) copolymer. Isophthalic acid is non-toxic acid and aromatic dicarboxylic in nature and is used as precursor (in the form of acylchloride) to various commercial polymers. Isophthalic acid offer excellent hardness and high glass transition temperature for enhanced chemical, stain, humidity, and corrosion resistance. The organic compound finds application in the coatings for industrial maintenance, automotive, aerospace, general metal, and coil coating.
The global isophthalic acid market size is expected to register a robust CAGR of 4% over the forecast period (2019 – 2027).
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Isophthalic Acid Market: Drivers
The global isophthalic acid market is majorly driven by high demand and production of PET bottle resins and unsaturated polyester resins. Isophthalic acid is used as an intermediate for unsaturated polyester resins and alkyd and polyester coating resins. Moreover, growing packaged food and beverages industry also contributes to high demand for isophthalic acid. The organic compound is added in unsaturated polyester resins to enhance resistance to heat, chemicals, and water and to increase mechanical performance.
Isophthalic Acid Market: Restraints
Polybasic acids or anhydrides including phthalic anhydride, terephthalic acid, adipic acid, and trimellitic anhydride and secondary diol such as diethylene glycol and cyclohexanedimethanol (CHDM) are some of the alternatives to isophthalic acid, which is expected to hamper growth of the market.
Isophthalic Acid Market: Regional Analysis
On the basis of region, the global isophthalic acid market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Increasing use of PET bottle resin is expected to boost growth of the market in Asia Pacific, Latin America, and Middle East. Moreover, increasing use of adhesives and aramid fiber is also expected to propel growth of the market in Asia Pacific. China is witnessing rapid increase in the production of PET bottle resins and unsaturated polyester resins. However, the country relies on imports to fulfil domestic demand for isophthalic acid. Significant growth in the construction sector and high demand for surface coating and unsaturated polyester resins is expected to contribute to growth of the market in Middle East.
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Isophthalic Acid Market: Competitive Landscape
Major players operating in the global isophthalic acid market include, The Chemical Company, Alfa Aesar, Eastman Chemical Company, and Sigma Aldrich Corporation.
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