Terephthalic Aldehyde Market

Terephthalic Aldehyde Market: Will the Players be Able to Get Back to Full-fledged Production in Coming Years? : Global Industry Analysis (2013 - 2017) & Opportunity Assessment (2018 - 2028)

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Several research institutes and producers have directed their attention towards the development of novel products for applications in genetics and molecular biology. For instance, terephthalic aldehyde is being used as a non-toxic and non-volatile gelatin membrane cross-linker as it augments the functional properties of the gelatin membrane. Terephthalic aldehyde increases the hydrophobic characteristics of gelatin by substantially increasing the liquid resistance capability (around 15-20 times). Terephthalic aldehyde is also used along with bi-enzyme catalysts as a cross-linker in glucose bio-fuel cells, which leads to stable bonding of the catalytic structure. Moreover, in 2017, the terephthalic aldehyde-based chemo-sensor molecular system was blended and utilized for the florescent sensing of metal ions. The molecular system is highly sensitive to copper ions.

China, being the key regional market is struggling to retain both production and consumption

Terephthalic aldehyde has niche but important applications in the optical brightener and pharmaceutical industry. With the implementation of environmental policies in China, which currently dominates the terephthalic aldehyde production scenario, supply has reduced drastically in the global market. Further, as per industry sources, no significant product alternative or environment friendly commercial production method is available as of yet in market. Though, several clean and eco-friendly processes have been proposed, however their commercialization has become a need of the hour.

Over the past few decades, the chemical industry in China grew almost threefold and China dominated the global terephthalic aldehyde market with a lion’s share. Moreover, China has become a hub for terephthalic aldehyde producers. The implementation of environmental regulations in China has resulted in the creation of volatility in the market – several manufacturers have been compelled to halt/reduce their production capacity for terephthalic aldehyde. The protocols have affected the competitiveness of the domestic industries and have damaged the economic performance of the industry, leading to a rise in the production cost leading to lower productivity or profitability. This is anticipated to lead to a worldwide shortage in the supply of terephthalic aldehyde as China is the main hub for the production of the chemical. Based on the existing scenario of the market, there are two possible future perspectives, predisposed by concerned environmental policies.

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Environment regulation are acting as a major roadblock in the production process

Economically, 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. Hence, the production process of terephthalic aldehyde leads to a large amount of wastewater generation (for production of each ton on terephthalic aldehyde, 40-70 tons of acidic wastewater is generated). Further, the chlorination process produces highly corrosive hydrogen chloride gas, which pollutes the environment and simultaneously corrodes the reactors, resulting in the reduction of terephthalic aldehyde yield.

Strict environmental regulations have hampered the production of terephthalic aldehyde. For instance, the Chinese government has passed the Air Pollution Prevention Action Plan to crackdown pollution, this has deeply affected the production of terephthalic aldehyde in the region. Since China is its main producer and supplier, such developments in the country have flustered the market all across the globe.

Overview of the global terephthalic aldehyde market with reference to the global chemicals industry

Recycle and reuse practices are impacting the sales of virgin materials, resulting into lesser dependency on volume-driven growth. New materials are showcasing potential for driving value-based growth, but chemical companies are still some time away from achieving voluminous production, while maintaining high quality at the same time. Barring few exceptions, a majority of players are still prioritizing short-term volume growth over long-term value growth. Pressure on improving bottom-line is influencing manufacturers to improve efficiency and reduce operational costs. The impact of value-driven growth may not be visible in the short-term, but long-term outlook remains in favor of a balanced approach between value and volume.

Manufacturers are under increasing pressure to incorporate digital solutions in their offerings. Forward-thinking manufacturers are investing in technology to reduce human interference and streamline key operational aspects such as ordering and shipping. Resonating its influence over every industry, Internet of Things (IoT) has the potential to transform and disrupt the chemical sector. Connectivity through IoT devices is gaining traction, whereas product-level sensors on dispensing equipment and barrels are helping manufacturers track their consignments digitally. Through assessment of long-term benefits, chemical companies are capitalizing on digitization by adopting digital platforms & processes that eliminate human error in profit-associated operations.

Manufacturers continue seeking low-priced feedstock in a bid to marginally reduce pre-production costs. Industry leaders are joining forces to replace fossil fuel-derived feedstock with bio-based alternatives. However, concerns related to producing affordable and sustainable feedstock at mass scale remains a challenge. Access to quality and affordable feedstock will continue to remain a focus area for manufacturers. Chemical manufacturing processes are running on limited energy, while volume of feedstock is getting stranded at ports as disapproval from import authorities keeps disrupting supply chains in sectors, such as oleochemicals and petrochemicals industries.

Chemical manufacturers have promised support and adherence to governments & regional authorities that are committing towards green, sustainable initiatives. Development of bio-alternatives is gaining momentum. Research & academic institutes are teaming up with manufacturers to formulate sustainable substitutes for commonly-used chemical substrates. Many companies are keeping a close eye on advancements in “green chemistry.” Shift towards eco-friendly chemicals will gain momentum in the future on the back of government regulations and end-user preference. Rising costs of fossil fuels will also instrument the upsurge for sustainable chemicals manufacturing.

List of factors tracked in the Chemicals and Materials Market Report

  • Chemical Industry Value Add

  • Chemical Sales

  • Per Capita Consumption

  • Standard Capacity Factors

  • Plastics Consumption Outlook

  • Glass Consumption Outlook

  • Policies and Regulations

  • Historical growth of top players

  • Growth in associated markets

  • Net trade scenario

  • Apparent production capacity

Research Methodology

FMI utilizes robust methodology and approach to arrive at market size and related projections. The research methodology for this report is based on 3 dimensional model. We conduct about 45-60 min duration detailed interviews with product manufacturers; apart from this we also collect market feedback from industry experts. To validate this data, we interact with senior panel members having more than 10 years of experience in relevant field. The panel members help in validating the findings and fill the gaps if any.  In addition, we leverage on our existing pool of information, paid database and other valid information sources available in public domain. Usually industry interactions extend to more than 50+ interviews from market participants across the value chain.

Data Collection

FMI collects data from secondary sources including company annual reports, association publications, industry presentations, white papers, and company press releases apart from these we leverage over paid database subscriptions and industry magazines to collect market information and developments in exhaustive manner. After being done with desk research, detailed questionnaire and discussion guide is formulated to initiate primary research with key industry personnel; the discussion aims at collecting key insights, growth perspectives, prevalent market trends and quantitative insights including market size and competition developments. Both of these research approaches help us in arriving at base year numbers and market hypothesis.

Data Validation

In this phase, FMI validates the data using macro and micro economic factors. For instance, growth in electricity consumption, industry value added, other industry factors, economic performance, growth of top players and sector performance is closely studied to arrive at precise estimates and refine anomalies if any.

Data Analysis and Projection

Data analysis and projections were made based on proprietary research frameworks and statistical analysis, which was further validated from industry participants. These frameworks include Y-o-Y growth projections, macro-economic factor performance, market attractiveness analysis, key financial ratios, and others.

For public companies we capture the data from company website, annual reports, investor presentations, paid databases. While for privately held companies, we try to gather information from the paid databases (like Factiva) and based on the information we gather from databases we estimate revenue for the companies. In addition, the team tries to establish primary contact with the companies in order to validate the assumptions or to gather quality inputs.

Standard Report Structure

  • Executive Summary

  • Market Definition

  • Macro-economic analysis

  • Parent Market Analysis

  • Market Overview

  • Forecast Factors

  • Segmental Analysis and Forecast

  • Regional Analysis

  • Competition Analysis

Target Audience

  • Production Companies

  • Suppliers

  • Channel Partners

  • Marketing Authorities

  • Subject Matter Experts

  • Research Institutions

  • Financial Institutions

  • Market Consultants

  • Government Authorities

Market Taxonomy

The global terephthalic aldehyde market has been segmented into:

By Application

By Grade

By Region

  • Optical Brightener

  • Polymers

  • Pharmaceutical Intermediates

  • Others

  • Pharma/Super Grade

  • Technical Grade

  • Asia Pacific Excl. China

  • China

  • Americas

  • EMEA (Europe, Middle East & Africa)

Terephthalic Aldehyde Market Reports - Table of Contents

1. Executive Summary

1.1. Market Overview

1.2. Market Analysis

1.3. FMI Analysis and Recommendations

2. Market Introduction

2.1. Market Taxonomy

2.2. Market Definition

3. Market Background

3.1. Macro-Economic Factors

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Trends

3.3. Opportunity Analysis

3.4. Patent Analysis

3.5. Value Chain Analysis

3.6. Forecast Scenario Analysis

3.7. Demand-Supply Analysis

4. Global Terephthalic Aldehyde Market Analysis 2013–2017 and Forecast 2018–2026, By Grade

4.1. Introduction / Key Findings

4.2. Historical Market Size (US$ Mn) and Volume Analysis By Grade, 2013 – 2017

4.3. Market Size (US$ Mn) and Volume Forecast By Grade, 2018–2026

4.3.1. Technical Grade

4.3.2. Pharma/Super Grade

4.4. Market Attractiveness Analysis By Grade

5. Global Terephthalic Aldehyde Market Analysis 2013–2017 and Forecast 2018–2026, By Application

5.1. Introduction / Key Findings

5.2. Historical Market Size (US$ Mn) and Volume Analysis By Application, 2013 – 2017

5.3. Market Size (US$ Mn) and Volume Forecast By Application, 2018–2026

5.3.1. Optical Brightener

5.3.2. Polymers

5.3.3. Pharmaceutical Intermediate

5.3.4. Others

5.4. Market Attractiveness Analysis By Application

6. Global Terephthalic Aldehyde Market Analysis 2013–2017 and Forecast 2018–2026, By Region

6.1. Introduction / Key Findings

6.2. Historical Market Size (US$ Mn) and Volume Analysis By Region, 2013 – 2017

6.3. Market Size (US$ Mn) and Volume Forecast By Region, 2018–2026

6.3.1. Asia Pacific Excl. China

6.3.2. China

6.3.3. Americas

6.3.4. Europe and Middle East & Africa

6.4. Market Attractiveness Analysis By Region

7. Global Pricing Analysis

7.1. Regional Average Pricing Analysis

7.1.1. Asia Pacific Excl. China

7.1.2. China

7.1.3. Americas

7.1.4. Europe and Middle East & Africa

7.2. Pricing Analysis, By Grade

7.3. Pricing Assumptions

8. Asia Pacific Excl. China Terephthalic Aldehyde Market Analysis 2013–2017 and Forecast 2018–2026

8.1. Introduction

8.2. Historical Market Size (US$ Mn) and Volume Analysis By Market Segments (2013-2017)

8.3. Market Size (US$ Mn) and Volume Forecast By Market Segments (2018-2026)

8.3.1. By Country

8.3.1.1. India

8.3.1.2. Japan

8.3.1.3. ASEAN

8.3.1.4. Rest of APAC Excl. China

8.3.2. By Grade

8.3.3. By Application

8.4. Drivers and Restraints Impact Analysis

9. China Terephthalic Aldehyde Market Analysis 2013–2017 and Forecast 2018–2026

9.1. Introduction

9.2. Historical Market Size (US$ Mn) and Volume Analysis By Market Segments (2013-2017)

9.3. Market Size (US$ Mn) and Volume Forecast By Market Segments (2018-2026)

9.3.1. By Grade

9.3.2. By Application

9.4. Drivers and Restraints Impact Analysis

10. Americas Terephthalic Aldehyde Market Analysis 2013–2017 and Forecast 2018–2026

10.1. Introduction

10.2. Historical Market Size (US$ Mn) and Volume Analysis By Market Segments (2013-2017)

10.3. Market Size (US$ Mn) and Volume Forecast By Market Segments (2018-2026)

10.3.1. By Country

10.3.1.1. U.S.

10.3.1.2. Canada

10.3.1.3. Brazil

10.3.1.4. Mexico

10.3.1.5. Rest of Americas

10.3.2. By Grade

10.3.3. By Application

10.4.Drivers and Restraints Impact Analysis

11. EMEA Terephthalic Aldehyde Market Analysis 2013–2017 and Forecast 2018–2026

11.1. Introduction

11.2. Historical Market Size (US$ Mn) and Volume Analysis By Market Segments (2013-2017)

11.3. Market Size (US$ Mn) and Volume Forecast By Market Segments (2018-2026)

11.3.1. By Country

11.3.1.1. EU-5

11.3.1.2. Eastern Europe

11.3.1.3. Rest of Europe

11.3.1.4. MEA

11.3.2. By Grade

11.3.3. By Application

11.4.Drivers and Restraints Impact Analysis

12. Competition Landscape (Manufactures/Suppliers)

12.1.Market Structure Analysis

12.2.List of Key Market Participants

12.3.Competition Dashboard

12.4.Competition Deepdive

12.4.1. Haihang Industry Co., Ltd.

12.4.2. Wuhai Xinye Chemical Co., Ltd.

12.4.3. Dalian Richfortune Chemicals Co. Ltd.

12.4.4. Alfa Aesar

12.4.5. Hebei Xingyu Chemical Co., Ltd.

12.4.6. Tokyo Chemical Industry Co., Ltd.

12.4.7. Hunan Astar Bio-chemical Technology Co., Ltd.

12.4.8. Sigma-Aldrich Co. LLC.

12.4.9. Daqing New Century Fine Chemical Co., Ltd.

12.4.10. T&W Group

13. Assumptions and Acronyms Used

14. Research Methodology

Terephthalic Aldehyde Market Reports - List of Tables

Table 01: Global Terephthalic Aldehyde Market Value US$ Historical Data (2013–2017) and Forecast (2018–2028) by Grade

Table 02: Global Terephthalic Aldehyde Market Value US$ Historical Data (2013–2017) and Forecast (2018–2028) by Application

Table 03: Global Terephthalic Aldehyde Market Value US$ Historical Data (2013–2017) and Forecast (2018–2028) by Application

Table 04: Asia Pacific Excl. China Terephthalic Aldehyde Market Value (US$) and Volume (Kg) Historical Data 2013 – 2017 and Forecast 2018 – 2028 by Country

Table 05: Asia Pacific Excl. China Terephthalic Aldehyde Market Value (US$) and Volume (Kg) Historical Data 2013 – 2017 and Forecast 2018 – 2028 by Grade

Table 06: Asia Pacific Excl. China Terephthalic Aldehyde Market Value (US$) and Volume (Kg) Historical Data 2013 – 2017 and Forecast 2018 – 2028 by Application

Table 07: China Terephthalic Aldehyde Market Value (US$) and Volume (Kg) Historical Data 2013 – 2017 and Forecast 2018 – 2028 by Grade

Table 08: China Terephthalic Aldehyde Market Value (US$) and Volume (Kg) Historical Data 2013 – 2017 and Forecast 2018 – 2028 by Application

Table 09: Americas Terephthalic Aldehyde Market Value (US$) and Volume (Kg) Historical Data 2013 – 2017 and Forecast 2018 – 2028 by Country

Table 10: Americas Terephthalic Aldehyde Market Value (US$) and Volume (Kg) Historical Data 2013 – 2017 and Forecast 2018 – 2028 by Grade

Table 11: Americas Terephthalic Aldehyde Market Value (US$) and Volume (Kg) Historical Data 2013 – 2017 and Forecast 2018 – 2028 by Application

Table 12: EMEA Terephthalic Aldehyde Market Value (US$) and Volume (Kg) Historical Data 2013 – 2017 and Forecast 2018 – 2028 by Country

Table 13: EMEA Terephthalic Aldehyde Market Value (US$) and Volume (Kg) Historical Data 2013 – 2017 and Forecast 2018 – 2028 by Grade

Table 14: EMEA Terephthalic Aldehyde Market Value (US$) and Volume (Kg) Historical Data 2013 – 2017 and Forecast 2018 – 2028 by Application

Terephthalic Aldehyde Market Reports - List of Figures

Figure 01: GDP Growth Rate (Y-o-Y), 2012-2017 

Figure 02: GDP Growth Rate (Y-o-Y), 2012-2016 

Figure 03: World Pharmaceuticals Market by Region, 2017 A, 

Figure 04: Global Terephthalic Aldehyde consumption, 2017

Figure 05: Global Terephthalic Aldehyde Market Share and BPS Analysis by Grade– 2013, 2018 & 2028

Figure 06: Global Terephthalic Aldehyde Market Share and BPS Analysis by Application– 2013, 2018 & 2028

Figure 07: Global Terephthalic Aldehyde Market Share and BPS Analysis by Application– 2013, 2018 & 2028

Figure 08: Asia Pacific Excl. China Terephthalic Aldehyde Market Share and BPS Analysis by Country – 2013, 2018  & 2028

Figure 09: Americas Terephthalic Aldehyde Market Share and BPS Analysis by Country – 2013, 2018 & 2028

Figure 10: EMEA Terephthalic Aldehyde Market Share and BPS Analysis by Country – 2013, 2018 & 2028