Market Our Approach Summary
Further key findings from the report suggest
• Technical grade isopthalic acid is estimated to observe the highest growth rate with a CAGR of 5.9 % in the forecast period due to the extensive use of this grade of isopthalic acid in industries and laboratories .
• Powder form is estimated to have a significant growth rate of CAGR 6.1 % in the forecast period . This can be attributed to the rising application of powder form in various industrial manufacturing process .
• The largest contribution to the market share is by the application segment of PET copolymers with a growth rate of CAGR 6.0 % in the forecast period . The PET Copolymers are used in the manufacturing of PET bottle resins used in the manufacturing of soft drink bottles & packaging of cosmetics and detergents among other applications .
• The packaging industry is projected to hold the largest market share with a growth rate of CAGR 6.1 % in the forecast period owing to a rising application of isopthalic acid in production of material used in manufacturing of packaging items for various industries .
• Asia Pacific holds the largest market and is forecasted to witness the highest growth rate in the forecast period with a CAGR of 6.2 %. This can be attributed chiefly to an increase in production of PET bottle resins and unsaturated polyester resins in countries like China and India .
• Key participants include Mitsubishi Gas Chemical Company , Lotte Chemical Corporation , British Petroleum , Exxonmobil , Perstorp , Total Petrochemicals , Eastman Chemical Company , Koch Chemical Company , AG International Chemical Company Inc . and Versalis S . P . A among others .