Isophthalic Acid Market Foreacast 2024-2028

The isophthalic acid market is projected to grow by USD 792 billion between 2023 and 2028, with a CAGR of 5.3%. Isophthalic acid, an aromatic dicarboxylic acid, is widely used in the production of polyester resins, making it a critical component across various industries. Its role in manufacturing PET bottles, high-performance polymers, and composite materials is driving demand. The market is further supported by its applications in packaging materials, automotive coatings, and fiberglass plastics, enhancing chemical stability and corrosion resistance in end products.The increasing demand for polyester resins in textiles, aerospace, railway components, and specialty resins is a primary growth driver. Additionally, the adoption of isophthalic acid in 3D printing and electric vehicles (EVs) is expanding its market scope. However, challenges such as inflation, reliance on fossil fuel-based feedstocks, and high carbon emissions persist. The industry is responding with a shift toward bio-based isophthalic acid, which offers sustainable solutions.

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Market Segmentation

By Application

• PET Copolymer

• Unsaturated Polyester Resins

• Surface Coating

• Others

By End-User

• Textile Industry

• Automotive Industry

• Construction

• Marine

• Others

Regional Market Trends

APAC

• China

• India

• Japan

• South Korea

North America

• US

• Canada

Europe

• Germany

• UK

• France

Middle East and Africa

South America

Market Dynamics

Drivers

• Growing demand for polyester resins: Isophthalic acid is essential in manufacturing polyester resins, widely used in lightweight automotive coatings, high-performance polymers, and fiberglass plastics. The demand for PET bottles and packaging materials is also increasing.

• Expanding applications in automotive and construction: The use of corrosion-resistant coatings in infrastructure and auto components is driving market expansion.

Trends

• Surge in automotive component production: The localization of automotive manufacturing in Kazakhstan is increasing demand for composite materials and high-performance polymers. In February 2024, investments exceeding USD 900 million were announced to boost local automotive manufacturing capabilities.

Challenges

• Variable crude oil prices: The cost of isophthalic acid production fluctuates with oil prices, impacting profitability. The Brent crude oil price averaged USD 83 per barrel in 2023, down from USD 101 in 2022, affecting PET and fiberglass plastics manufacturers.

Market Research Overview

The isophthalic acid market is experiencing significant growth, driven by its crucial role in the production of polyester resins, polyethylene terephthalate (PET) resins, and unsaturated polyester. These materials are widely used in industries such as automotive manufacturing, construction, renewable energy, and packaging. The increasing demand for lightweight materials and high-performance polymers in automotive components has led to the expanded use of fiberglass reinforcement and corrosion-resistant pipes. Additionally, the adoption of eco-friendly materials in sustainable packaging and food packaging is driving the market forward. In the renewable energy sector, isophthalic acid is a key component in wind turbine blades and solar panels, ensuring weather resistance and material durability. Furthermore, the demand for industrial coatings and durable coatings in infrastructure components continues to rise, particularly in aerospace interiors and railway components, where corrosion resistance and fuel efficiency are paramount.

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Key Players

• DHALOP CHEMICALS

• Dow Inc.

• Eastman Chemical Co.

• EMCO Dyestuff Pvt. Ltd.

• Formosa Plastics Corp.

• Golden Dyechem

• Groupe Veritas Ltd.

• Hefei TNJ Chemical Industry Co. Ltd.

• Indorama Ventures Public Co. Ltd.

• INEOS Group Holdings S.A.

• Lotte Chemical Corp.

• Merck KGaA

• Mitsubishi Gas Chemical Co. Inc.

• Perstorp Holding AB

• Sisco Research Laboratories Pvt. Ltd.

Research Analysis Overview

Advancements in resin innovation have led to increased applications of isophthalic acid in 3D printing, electric vehicles, and specialty resins. The market is benefiting from the development of composite materials with high-strength composites and glass transition properties, enhancing thermal stability and chemical resistance. The packaging industry is witnessing a surge in the use of PET resins and plastic bottles, driven by a focus on sustainable packaging solutions. Additionally, polymer production for coating applications is expanding, addressing the need for commodity chemicals with corrosion-resistant properties. The construction sector continues to rely on construction materials infused with synthetic fibers to improve material durability. Meanwhile, carbon emissions reduction remains a key priority, pushing industries to adopt eco-friendly materials and reduce reliance on fossil fuel-based chemicals. These trends reinforce the growing importance of isophthalic acid in enhancing infrastructure durability, increasing fuel efficiency, and supporting sustainable innovations across multiple sectors.