New York, NY -- (SBWIRE) -- 12/28/2020 -- The isopthalic acid market is set to attain a valuation of USD 2.10 billion by 2026, registering a CAGR of 6.0%, according to the latest report by Reports and Data. Isophthalic acid is an aromatic colorless organic compound and can be segmented by type as 99% Pure and 5% Pure. The applications of isopthalic acid are widespread in several industries including pet copolymer, surface coating resins, unsaturated polyester resin, and amorphous polyamide resins.

Market Drivers

The major driving force for the development of the isopthalic acid market is the rise in the demand for PET containers and bottle especially among companies manufacturing detergents, soft drinks, cosmetics and pharmaceutical products among others. However, stringent regulations and policies may slow down the market. The key leaders holding the majority of the shares are Lotte Chemical Corporation, Mitsubishi Gas Chemical Company, Total Petrochemicals, British Petroleum, Exxonmobil, Perstorp, and Eastman Chemical Company.

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Regional Analysis

According to reports, the North America region may witness a slow growth rate over the forecast period. Asia Pacific region accounts for the largest market share globally and is anticipated to witness the highest growth rate in the projected period with a CAGR of 6.2%. This can be attributed to a rise in the production of unsaturated polyester resins and PET bottle resins in countries like India and China.

COVID-19 Impact on the Global Isopthalic Acid Market:

The latest report is the first Isopthalic Acid market research document covering the current global economic landscape severely impacted by the COVID-19 outbreak. The global health emergency has resulted in unprecedented changes in the global economy, thereby disrupting the Isopthalic Acid business sphere's functioning. The current scenario of this ever-evolving business vertical has been clearly depicted in the report, with a broad evaluation of the pandemic's present and future effects.

Key Players Profiled in the Report Include:

Mitsubishi Gas Chemical Company, Lotte Chemical Corporation, British Petroleum, Exxonmobil, Perstorp, Total Petrochemicals, Eastman Chemical Company, Koch Chemical Company, AG International Chemical Company Inc. and Versalis S.P.A among others.

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The Isopthalic Acid market is segmented on the basis of product types and applications offered by the market to impart an easy understanding of the Isopthalic Acid market operations and covers:

By Product Type:

· 99% Pure

· 5% Pure

· Others

By Application:

· PET Copolymer

· Unsaturated Polyester Resin

· Surface Coating Resins

· Amorphous Polyamide Resins

· Others

Regional Perspective:

The global Isopthalic Acid market has been categorized into several significant regions, such as North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. This section of the report analyzes the presence of the global Isopthalic Acid market across the major regions. It determines the market share, market size, revenue contribution, sales network and distribution channel, and other key elements of each regional segment.

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Report Highlights:

Sales & Revenue Analysis – The report includes accurate market sales volume and revenue estimations, assessed using useful analytical tools.

Supply and Value Chain Analysis: This section of the report offers a detailed examination of the global supply and value chains, which have been drastically affected by the COVID-19 pandemic.

Competitive Scenario: This section highlights both the emerging and dominant players of the global Isopthalic Acid market and summarizes their company profiles, product portfolios, production capacities, and cost and revenue analyses.

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