An Incisive, In-depth Analysis on the Terephthalic Aldehyde Market
This study offers a comprehensive, 360 degree analysis on the Terephthalic Aldehyde market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Terephthalic Aldehyde market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
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.
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
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
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.
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.
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
Parent Market Analysis
Segmental Analysis and Forecast
Subject Matter Experts
The global terephthalic aldehyde market has been segmented into:
Terephthalic Aldehyde Market Reports - Table of Contents
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