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Terephthalic Aldehyde Market - Forecast(2023 - 2028)
Terephthalic Aldehyde Market Overview
The
terephthalic aldehyde market size is expected to reach US$3.7 million by 2027 after growing
at a CAGR of 3.2% during the forecast period 2022-2027. Terephthalic aldehyde is an organic compound that is
manufactured by the chlorination of subsequent hydrolysis of p-xylene. The
compound when reacts with chromic acid forms a carbonyl group which makes it
soluble in water having high hydrogen bonds. Besides being majorly used for
optical brightener and photo-polymer, terephthalic aldehyde has various other applications
like the dimethyl ester formed by its carboxy groups are used in manufacturing
industrial plastics, it provides fabric care for synthetic fiber and natural
fiber, and as an intermediary, it is used for medicine, perfumes, dyes etc. The
drivers for the terephthalic aldehyde market are growing consumption of paper,
increase in production volume of textiles, increasing consumption rate of
plastics, and growing medical uses for photopolymer. However, the stringent
environmental regulations imposed by government organizations to restrict the
waste created during the production process of terephthalic aldehyde will
hamper the growth of the terephthalic aldehyde industry
COVID-19 Impact
Terephthalic
aldehyde is mainly used in the production of optical brightener which has high
applicability in end-user industries like textiles, paper, detergents etc., and
also it is used to improve the color of various plastics products. Hence, due
to consequential lockdown, restriction on movement of people and import/export
of raw materials disrupted the functioning of these sectors. For instance, as per the Chinese National Textile
and Apparel Council, the export of apparel items from China to India decreased
by 12.6%. Also, as per the Bureau of Economic Analysis, the value of US textile
output decreased by 21.4% while apparel decreased by 14.9% in the second
quarter of 2020 compared to last year. Moreover, as per PlasticEurope, in 2020,
the production of new plastics was down by 51% at 55 million tons. Such a decrease
in production output by major end-users of optical brightener decreased its
usage in them, which negatively impacted the demand for terephthalic aldehyde
in the production of optical brightener. Hence, this harmed the growth of the terephthalic
industry.
Terephthalic Aldehyde Market Report Coverage
The report: “Terephthalic Aldehyde Market
– Forecast (2022 – 2027)”, by IndustryARC, covers an in-depth analysis of
the following segments of the Terephthalic Aldehyde industry.
By Grade – Technical Grade, Pharmaceutical/ Super Grade.
By Application – Optical Brightener, Intermediates
(Pharmaceuticals, Dyes, Perfumes, Others), Photo-Polymer, Others (Paint
carrier, adhesives, coatings).
By
End Users – Detergents,
Textiles (Woven, Non-Woven), Paper (Laminate, Decorative), Plastic &
Polymer (Thermoplastics, Thermosets).
By
Geography – North
America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherland,
Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, India, Japan,
South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, Rest of
APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South
America), Rest of the World (Middle East, Africa).
Key Takeaways
- Asia-Pacific dominates the terephthalic aldehyde market as the region is the hub to major end-users of terephthalic aldehyde like textile, plastic, paints in countries like India, China, Thailand etc. with China being the major plastic and textile producer
- The uniqueness of terephthalic aldehyde as an optical brightener to maintain brightness and coloring of products creates its demand in niches applications like as paper whitener, detergent brightener and fiber whitener in plastics
- Terephthalic aldehyde as photopolymer has high applicability in the medical sector where it is used for making hearing aids, medical filters, surgical masks and blood analysis sensors.
Figure: Asia-Pacific Terephthalic Aldehyde Market Revenue, 2021-2027 (US$ Million)
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Terephthalic Aldehyde Market Segment – By Grade
Technical
grade held the largest share in the terephthalic aldehyde market in 2021, with
a share of over 40%. Technical grades are the chemicals that are used for
commercial and industrial purposes and are of high purity levels. Hence,
terephthalic aldehyde as a technical grade is used in the paper, fiber,
textile, plastics sector as a brightening agent which improves their coloring
and brightness, thereby improving their appearance and quality. For instance, as per the Bureau of
Economic Analysis, the spending on fashion items majorly including clothing and
footwear increased up to 62.48% in the second quarter of 2021 in the US. Also,
as per Plastic Export Promotion Council, India’s plastic exports grew by 60% in
June 2021. The growing demand for such industrial
products has led to more usage of technical grade terephthalic aldehyde in them
to maintain and improve their brightness and appearance. This will provide a
positive impact on the growth of the terephthalic aldehyde industry
Terephthalic Aldehyde Market Segment – By Application
Optical
brighteners held the largest share in the terephthalic aldehyde market in 2021,
with a share of over 34%. Optical brighteners are the chemical compounds that
provide a whitening effect to the fabric by absorbing light in the ultraviolet
and violet region then re-emitting them in the blue region. Such brightening
agents have high applicability in various sectors like textile, paper, paints,
plastics etc., and in all these sectors they are used for improving the color
and brightness of the products. Hence, the growing production volume of these
sectors on account of encountering rapid developments has positively impacted
the demand for optical brighteners. For instance, as per the Ministry of
Industry and Information Technology, in 2021, China’s garment sector saw a
growth in production, profit, revenue by 9% with US$163.9 billion. Also, as per
the 2021 report of PlasticEurope, plastic production in Europe increased by
11.3% compared to 2020. Such an increase in production output of major end-users
will lead to the high demand for optical brighteners for improving the brightening
of textile and plastic products. This will result in more consumption of
terephthalic aldehyde in the manufacturing of optical brighteners, thereby
having a positive impact on the terephthalic aldehyde industry
Terephthalic Aldehyde Market Segment – By End User
The
textile sector held the largest in the terephthalic aldehyde market in 2021,
with a share of over 35%. The fabrics used in textile consists of impurities
such as dust stuck, pesticides and fabrics sourced from animals containing
animal fat and secretions etc. Such impurities affect the brightness of
textiles, and to maintain the brightness of textile, an optical brightener made
from terephthalic aldehyde is added during fabric finishes. The improvement in
living standards and rapid urbanization has led to an increase in textile
consumption, which has increased the exports and sales of textile items. For
instance, as per Statistics Canada, in 2021, the export of
clothing, apparel and textile products in Canada was US$367.9 million in
November showing an increase of 11% compared to October. Also, as per the Federal
Statistics Office of Germany stated, in March 2021, Germany’s export volume of
textiles stood at an all-time high of 130,604 tones showing a massive increase
of 71% compared to 2008. Such an increase in export and consumption of textile
items will increase the demand for optical brightening agents in the textile
sector, resulting in more usage of terephthalic aldehyde for producing optical
brighteners. This will provide a major boost to the growth of the terephthalic
aldehyde industry in the textile sector.
Terephthalic Aldehyde Market Segment – By Geography
Asia-Pacific held the largest share in the terephthalic aldehyde market in 2021, with a share of over 41%. The region consists of major end-users like textiles, plastic, paper etc. of terephthalic aldehyde in major countries like China, India, Japan, etc. with China being the largest plastic and paper producer. The economical development in these nations has led to an increase in the industrial output of their sectors including end-users of terephthalic aldehyde. For instance, as per the China National Bureau of Statistics, paper production in China increased by 8% in 2020 compared to last year. Also, as per the Ministry of Textiles, total cloth production in India was increased by 9% during April-Jan 2020, and cloth production in the decentralized sector was increased by 9% in 2020. Terephthalic aldehyde is used as an optical brightening agent for providing a brightening effect to textiles and a whitening effect in the paper. Hence, such an increase in productivity of these end-users will lead to an increase in demand for terephthalic aldehyde in them, thereby providing more growth opportunities to the terephthalic aldehyde industry in the Asia-Pacific region
Terephthalic Aldehyde Market Drivers
Growing Production of Textiles Items
In the clothing sector variety of apparels items like sweatshirts, jeans, T-shirts etc., are introduced every year. To maintain the brightness and improve the color of the clothing items, terephthalic aldehyde as an optical brightening agent is used. Hence, the rapid development in the textile sector, growing population, increase in disposable income of consumers has led to an increase in production rate for textiles items like clothing and apparel which has increased their sales and exports. For instance, as per the Office of Textile and Apparel, The exports of textile and apparel from the United States were up by 18.62 per cent year-on-year in the first ten months of 2021 showing an increase of $18.803 billion during January-October 2021 compared to $15.850 billion in 2020. Also, as per the Ministry of Industry and Information technology, China’s garments and textile export rose by 5% YoY to $256.5 billion in 2021, with the exports of clothing products surging by 25.2 per cent to $138.9 billion. Such an increase in the production of clothing and apparel will increase the demand for optical brighteners for maintaining the brightness of clothes, thereby positively impacting the demand for terephthalic aldehyde in the textile sector
Increase in consumption of Paper
The raw material of paper often consists of
impurities such as snippets, bamboos stick and wood chips etc. These impurities
dampen the brightness of the paper, and to maintain and improve the
terephthalic aldehyde is added during the internal coating of papers giving
them a much whiter and brighter appearance. The increase in consumption of
paper especially in developed nations has positively impacted the demand for
terephthalic aldehyde in the paper industry. For instance, as per the 2021
report of the American Forest & Paper Association, U.S. purchases of total
printing-writing papers increased six per cent in May compared to the same
month last year and Uncoated Free Sheet imports and exports both increased
compared to April 2020, up 10% and 25% respectively. Hence, such an increase in the consumption of
paper will increase the demand for terephthalic aldehyde in the paper industry
for paper brightening. This will have a positive impact on the growth rate of the
terephthalic aldehyde industry
Terephthalic Aldehyde Market Challenge
Stringent Government Regulations
The production process of terephthalic
aldehyde involves highly toxic chlorine gas and a large amount of nitric acid
during the oxidation process. The usage of such highly toxic chemicals produces
a large amount of wastewater and the chlorination process creates highly
corrosive hydrogen chloride gas which corrodes chemicals reactors and pollutes
the environment. Hence, to prevent such environmental waste production, certain
regulations have been imposed by the governments or authorized organizations. For
instance, China’s Environment Protection Law 2021, provides authorities to increase fines for illegal discharge
in the waterway, to take direct actions such as equipment seizure, work
stoppage, detention and also in some cases can put criminal charges on
the manufacturers. Hence, such regulation can restrict the usage of chemicals
used in the production of terephthalic aldehyde, resulting in a reduction in
its yield
Terephthalic Aldehyde Industry Outlook
The companies to develop a strong regional presence and strengthen their market position, continuously engage in mergers and acquisitions. Terephthalic Aldehyde top 10 companies include:
- Hunan Astar
Biochemical Technology Co. Ltd
- Hebei Xingyu
Chemical Ltd.
- Haihang Industry
Co. Ltd
- Wuhai Xinye
Chemical Co. Ltd
- Dalian
Richfortune Chemicals Co. Ltd
- Tokyo Chemical
Industry Co. Ltd
- Wynca
- T&W Group
- Nebula Chemicals
- Suzhou Health Chemicals
Recent Developments
- In June 2019, Limin Chemical completed the acquisition of 100% stakes in Veyong (Veyong Pesticide, Veyong Veterinary and New Veyong), therefore, acquiring Veyong’s continuous gas-phase synthesis technology
- In 2021, Wynca acquired a 51% stake in Hefei Xingyu Chemical Co. Ltd, a high-tech firm that is a leading manufacturer of research chemicals and agriculture chemicals, the acquisition will enable Wynca to expand its research chemical product portfolio
Relevant Reports
Aldehydes Market - Forecast
(2022 - 2027)
Report
Code – CMR 0274
Purified Terephthalic Acid
Market - Forecast (2022 - 2027)
Report Code – CMR 0549
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