According to the report, the global terephthalic aldehyde market is expected to witness -a 3.8% CAGR from 2018 to 2028. While the market currently values worth US$ 16,129,832.3 it has been projected to go down and reach US$ 4,342,866.7 by the end of 2028.
The leading companies functioning in the global terephthalic aldehyde market are Haihang Industry Co., Ltd., Wuhai Xinye Chemical Co., Ltd., Dalian Richfortune Chemicals Co. Ltd., Alfa Aesar, Hebei Xingyu Chemical Co., Ltd., and Tokyo Chemical Industry Co., Ltd.
Future Market Insights (FMI) has published a new report on terephthalic aldehyde, which has been titled, “Terephthalic Aldehyde Market: Global Industry Analysis 2013-2016 and Opportunity Assessment 2018-2028.” According to the report, the global market for terephtahlic aldehyde is on the verge of downfall owing to the amount wastewater being generated from the production of only one tonne of terephthalic aldehyde.
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It has been considered uneconomical by a handful of players in the market owing to its expensive nature as well as the lack of proper infrastructure to treat the colossal amounts of wastewater. Moreover, owing to government regulations across the globe, the production of terephthalic aldehyde has been halted by a majority of key companies in the global marketplace.
The world is observing an insufficient supply of terephthalic aldehyde, principally caused by the enforcement of ‘The Environmental Protection Tax Law’ in 2016 in China. The policy required producers to install proper waste management facilities and levied heavy punishments and penalties on the companies, wanting to comply with the mandated regulatory standards.
These regulations interrupted the production facilities of terephthalic aldehyde, resulting in abridged productivity, and creating a huge variation between demand and supply. This has led to high vulnerability in the global market, leaving the end users obligated to look for other alternate materials or production technology to meet the industry demand.
The scope of application and use of terephthalic aldehyde has expanded over the years to various end-use industries. It is mainly used for the production of optical brighteners and photo-polymers. It is also an important intermediate in the synthesis of medicines, dyes, and perfumes.
Though terephthalic aldehyde is a small-volume product, it is projected to profit from macroeconomic industrial growth, predominantly in end-use sectors where it finds its niche applications. The macroeconomic factors are projected to underpin end-user industries, such as textile, personal care, paper and pulp, and pharmaceutical, which in turn would create the demand for terephthalic aldehyde.
Further, the uniqueness of terephthalic aldehyde in niche applications proves to be a vantage point. As per various industrial sources, the dearth of alternatives in optical brightener applications is the main factor driving its demand globally.
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Use in Other Applications along with Optical Brightener to Open Future Prospects
The scope of application and use of terephthalic aldehyde has expanded over the years to various end-use industries. It is mainly used for the production of optical brighteners and photo-polymers. It is also an important intermediate in the synthesis of medicines, dyes, and perfumes.
Though terephthalic aldehyde is a small-volume product, it is projected to profit from macroeconomic industrial growth, predominantly in end-use sectors where it finds its niche applications. The macroeconomic factors are projected to underpin end-user industries, such as textile, personal care, paper and pulp, and pharmaceutical, which in turn would create the demand for terephthalic aldehyde.
Further, the uniqueness of terephthalic aldehyde in niche applications proves to be a vantage point. As per various industrial sources, the dearth of alternatives in optical brightener applications is the main factor driving its demand globally.
Market Taxonomy
The global terephthalic aldehyde market has been segmented into:
By Application
- Optical Brightener
- Polymers
- Pharmaceutical Intermediates
- Others
By Grade
- Pharma/Super Grade
- Technical Grade
Economically, the terephthalic aldehyde is mainly manufactured by the chlorination and subsequent hydrolysis of p-xylene; the production process involves highly toxic chlorine gas for chlorination and requires a large volume of nitric acid during the oxidation process.
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Frequently Asked Questions
- How is the Terephthalic Aldehyde Market Growing?
- Which Region Holds the Highest Revenue Potential in the Terephthalic Aldehyde Market?
- What is the Future Scope of Growth for the Terephthalic Aldehyde Market?
- What is the Current Terephthalic Aldehyde Market Size?
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Ortho Phthalic Aldehyde Market: Global Ortho Phthalic Aldehyde demand is anticipated to be valued at US$ 5.3 Billion in 2022, forecast to grow at a CAGR of 5.2%to be valued at US$ 8.8 Billion from 2022 to 2032.
Anisic Aldehyde Market: Global Anisic Aldehyde demand is anticipated to be valued at US$ 5.3 Billion in 2022, forecast to grow at a CAGR of 5.2% to be valued at US$ 8.8 Billion from 2022 to 2032.
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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.
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