Global Terephthalic Aldehyde Market: Snapshot
The expansion in the demand for terephthalic aldehyde can be attributed to the prosperity of its end-use applications including optical brighteners, pharmaceutical intermediate, and polymers. Additionally, a number of research and development academics have shifted their focus onto devising novel products for molecular biology and genetics, and use terephthalic aldehyde to enhance the functional properties of gelatin membrane. The pharmaceutical industry utilizes these chemicals to combat viruses, fungi, bacteria, and insects. This report on the global terephthalic aldehyde market has projected the demand to expand at a formidable CAGR during the forecast period of 2017 to 2025.
The exponential rise of the Chinese chemical industry is another strong driver of the terephthalic aldehyde market. China is the most prominent producer as well as consumer of the product, and as a result, most of the players are forced to compete on the basis of product pricing. Moreover, the dye industry is opening profitable new opportunities. These products are used as a mixing agent during the manufacturing of dyes, providing for coloring for extended periods of time as well as changing the color. These dyes are now commonly used for the production of inks, textiles, construction, polymers, and tinting.
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This report is a comprehensive assessment of all factors that will determine the demand for terephthalic aldehyde during the period of 2017 to 2025. Not just the analysis of critical factors such as trends, drivers, and restraints, the report also includes figurative representation of various segments and regions, as well as profiles some of the key companies in its featured chapter on the competitive landscape. This business intelligence report, developed using proven market research methodologies, aspires to serve as a decision-making tool for its targeted audiences.
Global Terephthalic Aldehyde Market: Overview
The global terephthalic aldehyde market is expected to gain a sustained and significant, forward thrust from the macroeconomic growth of several end-use industries. Terephthalic aldehyde (the chemical name being terephthalaldehyde) is a white-to-light yellow crystalline powder and has application as an intermediate molecule in the manufacturing industries of pharmaceutical, plastics, and dyes. The compound has also rise in popularity as the linker molecule for the preparation of metal-organic frameworks (MOFs). They are extensively used as intermediates in the synthesis of pigments, medicines, and perfumes, and variety of useful polymers, notably poly (ethylene terephthalate) (PET).
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Global Terephthalic Aldehyde Market: Key Trends
The rising number of their applications of terephthalic aldehyde as intermediate compounds in the synthesis of a range of commercially useful compounds in end-use industries such as pharmaceuticals, plastics, textiles, optics, and dyes and pigments. The staggering demand for dyes and various plastic products world over is a notable factor aiding in the substantial expansion of the market. The growth is also supported largely by the rapid strides being experienced by the pharmaceutical production industries in various developing and developed regions. However, the demand for the compound is hampered by several concerns. The significant human health hazards associated with the accidental inhalation, swallowing, or coming in contact, is a crucial concern. Furthermore, stringent government regulations on waste management facilities has also dampened the spirit of several producers world over in recent years.
Global Terephthalic Aldehyde Market: Market Potential
The report offers a critical assessment of the market potential and untapped avenues expected over the forecast period. It takes a closer look at recent product launches and evaluates their impact on the market potential. A growing number of producers are boosting the capacity of their wastewater treatment infrastructure, in order to adhere to stringent regulatory norms of governments in various countries. They are also focusing on finding alternative methods of production to get over this bottleneck of committing massive funds on waste management technologies at the sites where terephthalic aldehyde are produced. Leading producers such as Merck & Co. are focusing on introducing high-purity terephthalaldehyde, which can have a vast range of application as intermediate compounds.
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Some prominent players have also filed patents on better technologies for the synthesis of the compound. The market has also gained traction for the production of optical brighteners and PET, thus expanding the potential of the market. In recent years, several niche applications have emerged. A number of vendors are making extensive information on products and their safety among buyers, which bodes well for the market potential.
Global Terephthalic Aldehyde Market: Regional Outlook
The study offers an elaborate assessment of current and emerging opportunities and lucrative avenues in various regions. It also evaluates the impact of recent changes in governmental regulations in key regions. On a geographical front, North America and Europe are prominent markets for terephthalic aldehyde. The substantial growth of the North America market can be attributed to the staggering application of the compound in pharmaceutical manufacturing. Meanwhile, Europe is a lucrative market, driven by the widespread demand for the intermediate in the plastic manufacturing. Asia Pacific is also expected to present vast promising avenues for market players to capitalize on.
Global Terephthalic Aldehyde Market: Competitive Outlook
The study offers a detailed profiling of various prominent players and highlights the key strategies adopted by them to gain a better foothold in the market. Furthermore, a number of manufacturers are harping on product research and development, in order to consolidate their positions. Some of the key players operating in the global terephthalic aldehyde market are Rosewachem co. Ltd., Angene International Limited, Suzhou Health Chemicals, Conier Chem, Struchem co. Ltd., Fond Chemicals, Nebula Chemicals, Haihang Industry, Chemindustry, and Jinan Haohua.