The global 1,4-Benzenedicarboxylic acid market is expected to reach USD 1,185.9 Million by 2028, according to a new report by Reports and Data. The growth of the 1,4-Benzenedicarboxylic acid market is primarily owing to the increasing application of this organic compound, especially in the production of polyethylene terephthalate.

1,4-Benzenedicarboxylic acid is the essential monomer utilized in the production of polyethylene terephthalate and polybutylene terephthalate polymers. It has properties like low response temperature, high virtue, astounding warm obstruction, and high added substance scattering. Accordingly, 1,4-Benzenedicarboxylic acid is an optimal material in the assembling of terephthalate-based polymers. Moreover, 1,4-Benzenedicarboxylic acid is in many cases utilized in the production of modern plastics. It is likewise utilized as a halfway in the production of herbicides, paints, inks, and cements.

1,4-Benzenedicarboxylic acid is ordinarily delivered by oxidation and esterification of paraxylene. Methanol, one more unrefined substance, is likewise utilized in the production of 1,4-Benzenedicarboxylic acid.

  • Key participants include SK Innovation Co. Ltd., Artenius Turkpet, Cepsa Quimica, AB Enterprises, Eastman Chemical Company, Teijin Ltd., Oxxynova GmbH, Sinopec Limited, SASA, Bongaigaon Refinery & Petrochemicals Ltd., and Petrocel SA, among others.

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Further key findings from the report suggest

  • By product type, solid 1,4-Benzenedicarboxylic acid contributed to the largest market share in 2020.
  • By application, polyethylene terephthalate (PET) held the largest market share in 2020 and is estimated to grow at a rate of 3.6% in the forecast period. Polyethylene terephthalate (PET) is the thermoplastic with the most extensive application across the globe, and it is the most preferred solution for the packaging of consumable products. Moreover, fabrics made from PET are durable and flexible, and when combined with materials such as cotton, can decrease shrinking, wrinkling, and makes it tear-resistant.
  • By distribution channel, online sales channel dominated the market in 2020 and is forecasted to grow at a rate of 4.8% in the period 2019-2026. Online sales channel helps the market players to have access to a broader market irrespective of whether they have physical presence in that region or not.

Product Type Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)

  • Solid 1,4-Benzenedicarboxylic acid
  • Liquid 1,4-Benzenedicarboxylic acid

Application Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)

  • Polyethylene Terephthalate (PET)
  • Polybutylene Terephthalate (PBT)
  • Others

Distribution Channel Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)

  • Direct Sales
  • Indirect Sales

Regional Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)

  • North America
    • U.S
  • Europe
    • U.K
    • France
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
  • MEA

 

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