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Global Terephthaloyl Chloride (TPC) Market

by Robert Downey about a month ago in business

Global Terephthaloyl Chloride (TPC) Market

Market Outlook:

The global Terephthaloyl Chloride (TPC) market was valued at USD 2,461.2 Million in 2019 and is projected to reach USD 3,266.1 Million by 2027, expanding at a CAGR of 3.6% during the forecast period. Terephthaloyl Chloride is used as an additive in polymers and fibers to improve flame, chemical and weather resistance and flexibility. It is used as a stabilizer for urethane prepolymers. Phthalic Acid, also called Benzenedicarboxylic Acid with formula C6H4(COOH)2, is the name of any of three isomers. The ortho form (1,2-benzenecarboxylic acid) is called simply phthalic acid. It is a white-crystals decomposing at 191°C and slightly soluble in water and ether. This compound is mainly produced and marketed in the form of its anhydride produced by the oxidation of orthoxylene and naphthalene. Its wide application is based on the ortho related carboxylic acid groups as their dehydration is highly reactive with broad processing conditions to produce various downstream products. It is used to make simple esters widely used as plasticizers. It is used as in making unsaturated polyester resins, alkyd resins, polyester polyols, dyes and pigments, halogenated anhydrides, polyetherimide resins, isatoic anhydride and insect repellents. The meta form is isophthalic acid (1,3-benzenecarboxylic acid). It is a white-crystals subliming at 345°C slightly soluble in water, alcohol and acetic acid (insoluble in benzene).

Global Terephthaloyl Chloride (TPC) Market Summary

Market Dynamics

The global terephthaloyl chloride market is primarily driven by the increase in demand for Kevlar, a material formed by combining terephthaloyl chloride and para-phenylenediamine. The automobile industry uses terephthaloyl chloride owing to its chemical, mechanical, and physical properties. This is expected to boost the terephthaloyl chloride market Moreover, use of TLC in wide range of applications, ranging from consumer products to industrial gadgets are projected to create lucrative opportunities for the expansion of the market.

Research & development in improving the utilization of terephthaloyl chloride, is expected to drive the market. Corrosive property of terephthaloyl chloride creates problems in its storage and increases the overall cost. This is anticipated to hamper the market. Based on form, the terephthaloyl chloride market can be segmented into flakes and molten form. The molten form segment accounts for a significant share of the market due to rising demand for manufacturing of chemical-resistant materials. Flakes are utilized in the synthesis of high-performance polymers and is projected to create lucrative opportunities for expansion of the segment.

Segmental Outlook

Based on types, the industrial grade market was the largest product segment in the global terephthaloyl chloride (TPC) market in 2019. The segment contributed over 60.0% of the global market value in the same year. The industrial grade is expected to dominate throughout the period, 2020-2027 and also anticipated to expand highest CAGR during the forecast. Industrial grade accounts for the largest segment in terms of value and volume. Terephthaloyl chloride used across various industrial sectors such as monomer synthesis accounts for major share with utilization for fabrication of aramid fibers and high-performance polymers. Aramid fibers have end use in automotive, marine, defense and aerospace for materials having high strength, light weight and resistance to chemicals and organic solvents. High performance polymers are an attractive segment owing to design flexibility, high dielectric strength and low shrinkage properties.

Food grading basically means involvement of assessment, sorting and inspection of various foods regarding quality, freshness, legal conformity and market value. The term food grade is basically used to describe tools, supplies, and equipment that are of sufficient quality to be used for food production, food storage, or food preparation purposes. Terephthaloyl chloride for food grade segment is expected to grow over the forecast period.

By Application segment id further bifurcated into performance polymers, aramid fibers, water scavenge, other. Performance polymers, aramid fibers, and water scavenge category hold more than 85.0% market share in 2019. Performance polymers was accounted as the market leading category in application segment in 2019 and also anticipated to expand at highest CAGR during the forecast.

Global Terephthaloyl Chloride (TPC) Market By Type

Regional Outlook

In terms of regions, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is a promising region for the market. It constituted a ~29.0% share of the market in 2019. The growing automobile and defense industrial necessities in developing economies such as the United States and Canada. Also, the need for aramid fibers in various industries has driven the terephthaloyl chloride market. The market in the region is projected to expand at a CAGR of 4.2% during the forecast period. Asia Pacific is expected to register highest demand growth owing to the rising utilization of performance polymers in electronics and medical industry which have boosted demand for terephthaloyl chloride. Moreover, rising urbanization and transportation advancements also drive the demand for terephthaloyl chloride in the region.

business

Robert Downey

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