Terephthaloyl Chloride (TPC) Market by Type (Industrial Grade, Food Grade), By Application (Performance Polymers, Aramid Fibers, Water Scavenge, Other), and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 – 2027
Terephthaloyl Chloride (TPC) Market Outlook
The global Terephthaloyl Chloride (TPC) market size 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, 2020-2027. 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).
Terephthaloyl Chloride (TPC) 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.
Terephthaloyl Chloride (TPC) Market Segment Insights
Type Segment Analysis
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.
Application Segment Analysis
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.
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.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Terephthaloyl Chloride (TPC) Market
- Historical, Current and Projected Market Size in terms of Value (USD Million), Volume (Tons)
- 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 Terephthaloyl Chloride (TPC) Market Performance
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Terephthaloyl Chloride (TPC) Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Terephthaloyl Chloride (TPC) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Terephthaloyl Chloride (TPC) Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Terephthaloyl Chloride (TPC) Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Terephthaloyl Chloride (TPC) Market Size & Forecast, 2017-2027
4.5.1 Terephthaloyl Chloride (TPC) Market Size and Y-o-Y Growth
4.5.2 Terephthaloyl Chloride (TPC) Market Absolute $ Opportunity
4.6 Pricing Analysis & Forecast, By Type, 2017-2027
4.7 Global Terephthaloyl Chloride (TPC) Market: Impact Of Key Regulations
4.8 Global Chemical Industry Outlook
Chapter 5 Global Terephthaloyl Chloride (TPC) Market Analysis and Forecast By Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Type
5.1.2 Basis Point Share (BPS) Analysis By Type
5.1.3 Absolute $ Opportunity Assessment By Type
5.2 Terephthaloyl Chloride (TPC) Market Size & Volume Forecast By Type
5.2.1 Industrial Grade
5.2.2 Food Grade
5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Terephthaloyl Chloride (TPC) Market Analysis and Forecast By Application
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Application
6.1.2 Basis Point Share (BPS) Analysis By Application
6.1.3 Absolute $ Opportunity Assessment By Application
6.2 Terephthaloyl Chloride (TPC) Market Size & Volume Forecast By Application
6.2.1 Performance Polymers
6.2.2 Aramid Fibers
6.2.3 Water Scavenge
6.2.4 Others
6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Terephthaloyl Chloride (TPC) Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Terephthaloyl Chloride (TPC) Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Terephthaloyl Chloride (TPC) Analysis and Forecast
9.1 Introduction
9.2 North America Terephthaloyl Chloride (TPC) Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Terephthaloyl Chloride (TPC) Market Size & Volume Forecast By Type
9.6.1 Industrial Grade
9.6.2 Food Grade
9.7 Basis Point Share (BPS) Analysis By Type
9.8 Absolute $ Opportunity Assessment By Type
9.9 Market Attractiveness Analysis By Type
9.10 North America Terephthaloyl Chloride (TPC) Market Size & Volume Forecast By Application
9.10.1 Performance Polymers
9.10.2 Aramid Fibers
9.10.3 Water Scavenge
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis By Application
9.12 Absolute $ Opportunity Assessment By Application
9.13 Market Attractiveness Analysis By Application
Chapter 10 Europe Terephthaloyl Chloride (TPC) Analysis and Forecast
10.1 Introduction
10.2 Europe Terephthaloyl Chloride (TPC) Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Terephthaloyl Chloride (TPC) Market Size & Volume Forecast By Type
10.6.1 Industrial Grade
10.6.2 Food Grade
10.7 Basis Point Share (BPS) Analysis By Type
10.8 Absolute $ Opportunity Assessment By Type
10.9 Market Attractiveness Analysis By Type
10.10 Europe Terephthaloyl Chloride (TPC) Market Size & Volume Forecast By Application
10.10.1 Performance Polymers
10.10.2 Aramid Fibers
10.10.3 Water Scavenge
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis By Application
10.12 Absolute $ Opportunity Assessment By Application
10.13 Market Attractiveness Analysis By Application
Chapter 11 Asia Pacific Terephthaloyl Chloride (TPC) Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Terephthaloyl Chloride (TPC) Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Terephthaloyl Chloride (TPC) Market Size & Volume Forecast By Type
11.6.1 Industrial Grade
11.6.2 Food Grade
11.7 Basis Point Share (BPS) Analysis By Type
11.8 Absolute $ Opportunity Assessment By Type
11.9 Market Attractiveness Analysis By Type
11.10 Asia Pacific Terephthaloyl Chloride (TPC) Market Size & Volume Forecast By Application
11.10.1 Performance Polymers
11.10.2 Aramid Fibers
11.10.3 Water Scavenge
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis By Application
11.12 Absolute $ Opportunity Assessment By Application
11.13 Market Attractiveness Analysis By Application
Chapter 12 Latin America Terephthaloyl Chloride (TPC) Analysis and Forecast
12.1 Introduction
12.2 Latin America Terephthaloyl Chloride (TPC) Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Terephthaloyl Chloride (TPC) Market Size & Volume Forecast By Type
12.6.1 Industrial Grade
12.6.2 Food Grade
12.7 Basis Point Share (BPS) Analysis By Type
12.8 Absolute $ Opportunity Assessment By Type
12.9 Market Attractiveness Analysis By Type
12.10 Latin America Terephthaloyl Chloride (TPC) Market Size & Volume Forecast By Application
12.10.1 Performance Polymers
12.10.2 Aramid Fibers
12.10.3 Water Scavenge
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis By Application
12.12 Absolute $ Opportunity Assessment By Application
12.13 Market Attractiveness Analysis By Application
Chapter 13 Middle East & Africa (MEA) Terephthaloyl Chloride (TPC) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Terephthaloyl Chloride (TPC) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Terephthaloyl Chloride (TPC) Market Size & Volume Forecast By Type
13.6.1 Industrial Grade
13.6.2 Food Grade
13.7 Basis Point Share (BPS) Analysis By Type
13.8 Absolute $ Opportunity Assessment By Type
13.9 Market Attractiveness Analysis By Type
13.10 Middle East & Africa (MEA) Terephthaloyl Chloride (TPC) Market Size & Volume Forecast By Application
13.10.1 Performance Polymers
13.10.2 Aramid Fibers
13.10.3 Water Scavenge
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis By Application
13.12 Absolute $ Opportunity Assessment By Application
13.13 Market Attractiveness Analysis By Application
Chapter 14 Competition Landscape
14.1 Terephthaloyl Chloride (TPC) Market: Competitive Dashboard
14.2 Global Terephthaloyl Chloride (TPC) Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Dupont
14.3.2 Teijin
14.3.3 Transpek
14.3.4 Changzhou Kefeng
14.3.5 Qingdao Benzo (QDBC)
14.3.6 Shandong Kaisheng New Materials
14.3.7 Yantai Yuxiang
14.3.8 Others (On Request)