Isophthaloyl Chloride (ICL) Market Outlook
The global Isophthaloyl Chloride (ICL) market size was valued at USD 1,761.2 Million in 2019 and is projected to reach USD 3,266.1 Million by 2027, expanding at a CAGR of 7.8% during the forecast period.
Isophthaloyl Chloride (ICL) is used in a variety of performance polymers and fibers, where it impacts flame resistance, temperature stability, chemical resistance, and flexibility. In addition, it is an effective stabilizer for urethane prepolymers due to its ability to scavenge water. Physical Properties of the Chemical or Product: Isophthaloyl Chloride is a clear water-white liquid above its freezing point and a white crystalline solid at room temperature.
Isophthaloyl Chloride has a boiling point of 272 °C and a melting point of 45 °C. Isophthaloyl Chloride is non-flammable and non-explosive. Moreover, Isophthaloyl Chloride acts as a crosslinking agent in various polymerization reactions. It can also be used for aromatic fiber raw materials, used as a pesticide, pharmaceutical, and polymer intermediates.
Isophthaloyl Chloride (ICL) Market Dynamics
Major Drivers
Although urbanization continues, global population in regions like India still resides in rural areas. As already noted, the population residing in villages has significantly reduced access to quality treatment and medicines. Many pesticides companies are thinking beyond larger cities and targeting rural sectors.
While urban markets are currently more lucrative and will continue to represent a focus for the industry, the untapped potential of Indian rural markets is now seen as the next volume driver. Rising income levels leading to more affordability, improving health infrastructure, and increasing incidence of lifestyle diseases along with the use of health insurance are fueling the growth in rural areas.
Existing Restraints
Environmental exposure
Based on closed systems operations, no emissions would be expected. The substance itself is of no immediate concern for the environment (aquatic and terrestrial compartment. However, contact with moisture or water will create Hydrochloric Acid within the environment.
Side effects on Human Health
Causes severe skin burns. May cause corrosion with pain, ulceration or blisters, cracking or peeling of skin damage may be permanent. Extremely corrosive and destructive to tissue. Eye Corrosive, may cause permanent eye injury if not promptly treated. May cause tearing, pain, redness, swelling, ulceration, visual impairment or blindness. Respiratory tract may cause irritation of the respiratory system.
Isophthaloyl Chloride (ICL) Market Segment Insights
Types Segment Analysis
Based on types, the Solid Isophthaloyl Chloride segment was the largest product segment in the global Isophthaloyl Chloride (ICL) market in 2019. The segment contributed at 65.8% of the global market value in the same year. The Solid Isophthaloyl Chloride segment is expected to dominate throughout the period, 2020-2027 and also anticipated to expand highest CAGR during the forecast. Solid Isophthaloyl Chloride accounts for the largest segment in terms of value and volume.
Solid isophthaloyl chloride is most commonly used as a laboratory chemical. Whereas it is not used for food, drug, pesticide or biocidal product. Solid Isophthaloyl Chloride has density 1.427g/cm3 with melting point - 43-45℃ and boiling point - 276.7°C at 760 mmHg. The flash point of solid isophthaloyl chloride is 131.9°C. In addition, solid isophthaloyl chloride has reactive water solubility.
Moreover, it is corrosive. It also causes eye and skin burns. It can be harmful if absorbed through the skin. It may cause severe respiratory tract irritation with possible burns. It also may cause severe digestive tract irritation with possible burns. Most probably it is moisture sensitive.
Application Segment Analysis
Based on Application, the Application category is further bifurcated into Fibers & Polymers, Pharmaceuticals, Pesticides, Dyes & pigments. Fibers & Polymers segment holds in the highest value share (35.8%) in 2019. Fibers & Polymers, Pharmaceuticals, and Pesticides together hold majority of the market. Fibers & Polymers category is expected to expand at highest CAGR (7.3%) during the forecast, 2020-2027.
Regional Analysis
In terms of regions, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is a promising region for the market. It constituted a ~58.0% share of the market in 2019. New energy infrastructure and radical changes in current energy production, towards renewable energy sources, creates opportunities for Isophthaloyl Chloride in China which holds majority of the Asia Pacific market.
The market of Asia Pacific is projected to expand at a CAGR of ~7.0% during the forecast period. Europe and North America are expected to register modest growth owing to the growing demand in the chemical sector in North America. Growing industries for chemical helps the Isophthaloyl Chloride (ICL) market to grow in North America region.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Isophthaloyl Chloride (ICL) Market
- Historical, Current and Projected Market Size in terms of Value (USD Million), Consumption (K Kgs)
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Isophthaloyl Chloride (ICL) Market Performance
Segments
Type
- Solid Isophthaloyl Chloride
- Liquid Isophthaloyl Chloride
Application
- Fibers & Polymers
- Pharmaceuticals
- Pesticides
- Dyes & pigments
Region
- North America
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Russia
- Rest of the Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of Middle East & Africa
Key Players
- Dupont
- CABB Chemicals
- Ruiyuan Chemical
- Yantai Yuxiang
- Changzhou Kefeng
- Shandong Kaisheng New Materials
- Qingdao Benzo
- Shandong Zesheng Chemical Co., Ltd.
- Junan Guotai Chemical Co., Ltd.
- Haihang Industry
- Others (On Request)
Competitive Landscape
The prominent manufacturers operating in the Isophthaloyl Chloride (ICL) Market include DuPont, CABB Chemicals, Shandong Kaisheng New Materials, Changzhou Kefeng, Yantai Yuxiang, Qingdao Benzo, Ruiyuan Chemical. The report describes Consumption (K Kgs), Revenue (USD Million), price, recent developments etc.
The China region is expected to be most attractive index in the global Isophthaloyl Chloride (ICL) market. Dense presence of industries and large material processing and manufacturing industries is expected to fuel the demand for Isophthaloyl Chloride.
- In July 2019, CABB Chemicals and Jayhawk formed a strategic partnership to explore additional transatlantic opportunities to combine technologies and optimize processes. This process began in August 2018, when Evonik sold its Jayhawk subsidiary in Galena, Kansas, to the private equity firm Permira, which already owned CABB Chemicals, for a sum said to be in “the high double-digit million dollar range”. CABB and Jayhawk see huge opportunities in speciality chemicals. This is driven by demand for innovative and more complex molecules as a result of new chemical and functional requirements in growth segments like e-mobility, healthcare and personal care, increasing demands on sustainability, increasingly stringent regulation, cost pressure, and the stress of competition, all exacerbated by the unstable supply situation in China.
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