Market Trends of Meta-Xylene Industry
This section covers the major market trends shaping the Meta-Xylene Market according to our research experts:
Isophthalic Acid to Dominate the Market
- Isophthalic acid is an aromatic dicarboxylic acid, industrially produced by the oxidation of m-xylene, using the Co–Mn–Br catalyst system. Commercially, it is used as a component of PET (polyethylene terephthalate) copolymer, which is used in bottle resins and to a much lesser extent, for fibers.Itis a white solid with a slightly unpleasant odor and it sinks inwater.
- It has excellent thermal stability for low resin color, weathering, high heat distortion temperature, outstanding boiling, water and stain resistance, outstanding hardness, superior corrosion, and stain resistance.
- Isophthalic acid’s second major use is as a component of high-quality alkyds and polyester resins for industrial coatings and unsaturated polyesters, for fiberglass-reinforced plastics applications.
- Purified isophthalic acid (PIA) is mainly used as an intermediate in theproductionof unsaturated polyester resins, followed by polyester and alkyd resins (mainly for surface coatings) and inks, reinforced plastics, and packaging applications.
- Few other applications of Isophthalic acid are as follows: aerospace coatings, architectural coatings, automotive, building materials, coil coatings, construction chemicals, electronic connectors, equipment and machinery, lubricants, metal coatings, packaging components non-food contact, paints and coatings, polyester (pet), process additives, protective coatings, refrigerator and coolant systems, and sport drinks packaging.
- The above mentioned points are expected to rapidly increase the demand for isophthalic acid. This would, in turn, increase the demand for meta-xylene over the forecast period.
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United States to Dominate the North American Region
- Residential construction spending in the country slightly fluctuated, in 2017. However, the normal pace was restored gradually in 2018 and has been growing since then. With the growing construction industry in the country, there is an increase in the number of new homes.
- In addition, growth is also being witnessed in the housing repair and refurbishment activities.
- The United States is the second-largest producer of automobiles in the world. PET is widely used to replace parts in automobile, in order to reduce weight and wear and tear, by providing trouble-free performance for a longer span of time.
- With the production of automobiles expected to increase over the forecast period, the consumption of PET in the country is likely to increase.
- The United States, being one of the most developed countries in the world, penetration of meta-xylene is extremely high. This trend is expected to continue over the forecast period.
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