The Isophthalic Acid Market is being driven by Growing demand for polyester resins
The Isophthalic Acid Market is expected to grow at a CAGR of 5.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 792 million. The isophthalic acid market is witnessing a notable trend due to the increasing localization of automotive component production, particularly in Kazakhstan. This trend is driven by significant investments from both local and foreign entities, totaling over USD900 million, to establish auto component manufacturing facilities. The strategic initiatives aim to reduce reliance on imported parts, make vehicles more affordable for consumers, and foster a robust local supply chain. The conference in Astana in February 2024 underscored these efforts, emphasizing the importance of enhancing local manufacturing capabilities in the automotive sector. This localization is poised to have a substantial impact on the regional isophthalic acid market, as isophthalic acid is a crucial raw material in the production of automotive components.
Get more information on Isophthalic Acid Market by requesting a sample report
Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Application (PET copolymer, Unsaturated polyester resins, Surface coating, Others) End-user (Textile industry, Automotive industry, Construction, Marine, Others) Geography (APAC, North America, Europe, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
Rich Experience: 20+ years leading global market research, trusted insights across industries.
Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.
Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.
Key Features in Isophthalic Acid Market Research Report
Find out which segment is leading the market by accessing the free PDF report
Isophthalic acid, a crucial aromatic dicarboxylic acid, serves as a significant raw ingredient in the production of various polymers. Its primary applications include unsaturated polyester resins for use in composites, coatings, and corrosion-resistant construction materials. In the realm of renewable energy, isophthalic acid is employed in wind turbine blades and solar panels, enhancing their fuel efficiency. As a feedstock, it contributes to the manufacturing of textiles, aerospace interiors, railway components, and specialty resins. Furthermore, it finds applications in 3D printing, electrical vehicles, food packaging, and plastic bottles, such as those made from polyethylene terephthalate (PET). Isophthalic acid's high glass transition temperature makes it a valuable component in various industries, providing resistance to inflation and contributing to reduced carbon emissions.
The Isophthalic Acid market is a significant segment of the global commodity chemicals industry, with key applications in the production of unsaturated polyester resins, used extensively in the manufacturing of resins for composites, coatings, and corrosion-resistant materials. These materials find extensive use in various sectors, including construction, renewable energy, and wind turbine blades. The increasing demand for lightweight, durable, and corrosion-resistant materials, particularly in the packaging industry, is driving innovation and growth in the Isophthalic Acid market. This trend, in turn, is fueling the expansion of the global commodity chemicals market, which encompasses manufacturers of industrial and basic chemicals, such as plastics, synthetic fibers, films, and commodity-based paints and pigments. Technavio projects that this market will experience significant growth due to the rising demand for these materials in various end-use industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
