With hasty technological advancement and increasing penetration of terephthalic aldehyde in emerging application areas such as organic synthesis of pesticides and perfumes, the global terephthalic aldehyde market is rapidly escalating. The global terephthalic aldehyde market is driven by the growing investment in dyes and plastic industry. Terephthalic aldehyde is a whitish crystal compound. Commercially, it is manufactured by the utilization of Xylene in the presence of catalysts such as Tungsten, Bismuth and Molybdenum. Terephthalic aldehyde is also known as 1,4-Phthalaldehyde, 1,4-Benzenedicarboxaldehyde and Terephthaldicarboxaldehyde. It is a basic organic chemical employed as an intermediate in various application segments including dyes, plastics and pharmaceutical. Being a chemical intermediate, the global terephthalic aldehyde market has increased with a robust growth over the past few years and the trend is exhibited to continue in the coming future. Strong stability and high purity have been the major factors escalating the demand for global terephthalic aldehyde market.
Terephthalic Aldehyde Market: Drivers & Restraints
Dye industry is the dominant end user industries for the terephthalic aldehyde market. Intensification in the per capita consumption of dyes in the emerging economies is driving the growth of this market. Increasing plastic production is also surging the demand for terephthalic aldehyde. During 2008-2013 global plastic production witnessed a CAGR of 4.1% which is generating strong growth opportunities for the global terephthalic aldehyde market. Xylene is the prime raw material for the production of terephthalic aldehyde and fluctuations in availability and volatile prices pose a challenge to the market. Strong availability of substitutes is also restraining the growth of global terephthalic aldehyde market.
Terephthalic Aldehyde Market: Segmentation
Global terephthalic aldehyde market is broadly classified on the basis of its application in variety of industries. Terephthalic Aldehyde is used as an organic and agrochemical intermediate in dye, plastics and pharmaceutical industries.
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Based on these applications, the global terephthalic aldehyde market is segmented into following end user industries:
Optical Brightener Industry
Terephthalic Aldehyde Market: Region-wise Outlook
Geographically, the global terephthalic aldehyde market analysis focuses on seven key regions: North America, Latin America, Eastern Europe, Western Europe, Japan, and Asia Pacific excluding Japan, and Middle East and Africa (MEA). In terms of market share contribution, Asia Pacific is expected to represent the most lucrative market, followed by Western Europe and North America. Asia Pacific holds strong production base for dyes and plastic industry which in turn driving the consumption growth of terephthalic aldehyde market in this region. Rising growth of the Asia Pacific terephthalic aldehyde market is attributed to rising investments by the companies operating in the market. Western Europe is the second major chunk in the global terephthalic aldehyde market. Companies operating in this region are focusing on the development of innovative products, while complying with regulations for pharmaceutical and dye industry.
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Terephthalic Aldehyde Market: Key Players
Some of the key market players in global terephthalic aldehyde market are Hebei Xingyu Chemical Co., Ltd., Kingchem LLC and BOC Sciences, among many others.
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