Isophthalic Acid Market Trends, Share, Size, Growth, Opportunity and Forecast till 2029

mangesh

Jan 23, 2023 • 3 min read

The market for isophthalic acid is anticipated to reach US$ 4.62 Bn by 2029 and is predicted to expand at a CAGR of 7.8% over the forecast period.

Isophthalic Acid Market Overview:

The Isophthalic Acid market study gives a comprehensive view of the competition, including the market share and company profiles of the major global competitors. The scope of the research includes a full examination of the Isophthalic Acid Market, as well as the reasons for variations in the industry's growth between regions.

Market Scope:

Following the completion of market engineering, which included market statistics computations, market size estimations, market forecasts, market breakdown, and data triangulation, extensive primary research was done to gather information and verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up tactics, as well as different data triangulation procedures, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all data obtained during the market engineering process in order to provide essential information throughout the report.

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Segmentation:

By application of Isophthalic Acid, coating sector was uppermost driving segment, accounting for over 45% of the market share in 2021. Automobile coating with advanced technology is constantly recording significant growth owing to increasing demand from developing countries such as India and China. Furthermore, rising consumption of the materials in construction and furniture is considered as the major drivers for global isophthalic acid, also huge preference in the metal and wood furniture coating globally owing to growing awareness amongst the population will boost the market growth. On the other hand, new technology and advancement is another factor to propel the market demand in terms of value and volume. Additionally, huge demand of the material as an intermediate in the polyester resins and polyester coating high requirement for the durability and smooth finishing after application is the key factor to attract the consumer is leading the market growth.

Key Players:

• LOTTE Chemical CORPORATION
• The Chemical Company
• Eastman Chemical Company
• G. International Chemical Co. Inc
• Hefei TNJ Chemical Industry Co.,Ltd.
• SILVER FERN CHEMICAL, INC
• Tecnosintesi S.p.A.
• Dhalop Chemicals
• Interquisa
• KOHAP Corporation
• EMCO Dyestuff
• Marubeni Europe plc
• Hanhong Group
• Xiamen Hisunny
• Mitsubishi Chemical
• Zhejiang Kaili
• DVP Chemicals

Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers' annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data.

The biggest players in the Isophthalic Acid market are as follows:

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Regional Analysis:

Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the Isophthalic Acid market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.

COVID-19 Impact Analysis on Isophthalic Acid Market:

Due to a break in operations, end-user sectors where Isophthalic Acid are used suffered a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, and Spain, France, and India. As a result, the revenues of enterprises in these industries fell significantly, as did the demand for Isophthalic Acid manufacturers, impacting the growth of the Isophthalic Acid market in 2020. Lockdowns and a surge in COVID-19 events globally have severely reduced end-user business demand for Isophthalic Acid.

Key Questions Answered in the Isophthalic Acid Market Report are:

In 2021, which segment held the highest proportion of the Isophthalic Acid market?
What is the Isophthalic Acid market's competitive landscape?
What are the primary drivers assisting Isophthalic Acid market growth?
Which region has the most market share in the Isophthalic Acid market?
What will be the Isophthalic Acid market's CAGR throughout the projected period (2022-2027)?

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