Increasing demand for packaging solutions from the food & beverage, e-commerce, personal care & cosmetics, and the pharmaceutical sector should drive the 5-isopropyl-m-xylene market growth, says this report.
SELBYVILLE, Del. – January 11, 2021 – (Newswire.com)
Based on Global Market Insights Inc., report, the global 5-Isopropyl-m-Xylene Market size was estimated at $145 million in 2019 and is slated to surpass $235 million by 2026, registering a CAGR of 7.3% from 2020 to 2026. The report provides a comprehensive analysis of the top winning strategies, wavering industry trends, drivers & opportunities, top investment avenues, competitive scenarios, market estimations & size.
Global 5-isopropyl-m-xylene market share witnessed a consumption of over 2,200 tons from research chemicals applications in 2019. Growing adoption of various chemical processes such as ion exchange reactions, carbonation, Williamson’s ether synthesis, Suzuki coupling, nitration, and carboxylation in the industrial sector should accelerate market growth. These processes are heavily reliant on the ample supply of laboratory chemicals which includes 5-isopropyl-m-xylene.
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Moreover, the significant expansion of the industrial & domestic wastewater treatment, semiconductor, and automotive sectors should drive the adoption of laboratory chemicals to support research & development activities and help companies achieve a competitive advantage.
Organic synthesis applications should register over 4% gains by 2026. A significant innovation in the chemical industry, technological advances, and rising demand for organic chemicals primarily in the biotechnology & fuel cell sectors should trigger 5-isopropyl-m-xylene market growth. Rapid industrialization in China, India, and Indonesia, growing urbanization, and the presence of established food & beverage, agrochemicals, polymers, and automotive companies in the region should drive market growth.
5-isopropyl-m-xylene market size is estimated to surpass USD 135 million in the Asia Pacific by the end of the forecast period. Tremendous population growth, rising disposable income, and changing lifestyles have resulted in the growing demand for processed food in the Asia Pacific which should stimulate 5-isopropyl-m-xylene demand. The product is an ideal raw material for the manufacture of terephthalic acid which is used to produce polyethylene terephthalate (PET) and polybutylene terephthalate (PBT). The lightweight and strong nature of PET makes it well-suited for the packaging of convenience sized juices, soft drinks, and water.
North America is expected to register growth at a CAGR of 4 % between 2020 and 2026. The region is witnessing a growth in investment in downstream petroleum operations along with shale gas extraction. On the other hand, Europe’s business was valued at over USD 15 million in 2019 and should register healthy growth rates.
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The key players in the 5-isopropyl-m-xylene industry include Sigma Aldrich, Toronto Research Chemicals, Spectrum Chemicals, Tokyo Chemicals Industry, Co., Ltd., Santa Cruz Biotechnology, and J&K Scientific Ltd. Major manufacturers are adopting strategic initiatives such as acquisitions and partnerships to achieve market expansion and boost production capacity
Read the latest blog on “Expanding demand for PET packaging streamlines commercialization of 5-isopropyl-m-xylene“: https://justpositivity.com/5-isopropyl-m-xylene-industry/
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5-Isopropyl-m-Xylene Market projected to exceed $235 million by 2026, says Global Market Insights Inc.
