Big boom by Isophthalic Acid Market 2019 with an impressive double-digit growth rate by 2023
A market study ”Global Isophthalic Acid Market” examines the performance of the Global Isophthalic Acid Market 2019. It encloses an in-depth Research of the Isophthalic Acid Market state and the competitive landscape globally. This report analyzes the potential of Isophthalic Acid Market in the present and the future prospects from various angles in detail.
Global Isophthalic Acid Market Overview:
This report studies the Global Isophthalic Acid Market over the forecast period of 2019 to 2023. The Global Isophthalic Acid Market is expected to grow at an impressive Compound Annual Growth Rate (CAGR) from 2019 to 2023.
As per the market report analysis, the expanding cost of crude material has prompted a retrogressive and forward combination by the related vendors. A large number of these vendors are choosing a vertical combination to rival others. The expanding interests in the changed generation cycles because of the expanding interest for synthetic compounds utilized in making plastic jugs has prompted development in the isophthalic acid market’s offer. The main players in the market are anticipating development to help improve the supply chains related to the Global Isophthalic Acid Market.
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In terms of the regional analysis, APAC accounts for the largest market share in Isophthalic Acid in terms of consumption, particularly China, followed by developed regions such as North America and Europe. China is expected to witness a steady growth in all the end-user market for Isophthalic Acid, followed by Middle East and Brazil. Russia is also expected to rise at an above average rate due to increasing production of PET bottle resins. In Europe, particularly Western Europe, the market for Isophthalic Acid is expected to witness slow growth.
Current Industry News:
Eastman (May 7, 2019) – Eastman welcomes EFSA scientific opinion on sodium formate efficacy – On March 15, the European Food Safety Authority (EFSA) published its opinion on the effectiveness of sodium formate liquid, concluding that it has potential as a hygiene-condition enhancer. This positive conclusion allows for the next step: the European Union (EU) authorization of sodium formate for this use.
If authorized, sodium formate will be the second EU-authorized additive considered a hygiene condition enhancer; formic acid has been authorized for this use since June 2017. Both feed additives have been shown to be effective against specific microbial contamination, such as Salmonella, in feed and feed materials.
Eastman animal nutrition experts believe the authorization of sodium formate liquid will give the EU feed industry more flexibility to offer effective solutions that reduce specific contaminations.
“Within Eastman, we look forward to this additional authorization,” said Irene Quintana, marketing director, animal nutrition, Eastman. “It will enable us to further customize our applications and create solutions that effectively address the challenges of specific microbial contaminations in feeds and feed materials and thus contribute to a safe feed for animals.”
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Top Leading Key Manufacturers are: Eastman, HELM, BASF-YPC, Formosa Petrochemical Corporation, Lotte Chemical, Veritas, SRL Chemical and others. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Region segment: This report is segmented into several key regions, with sales, revenue, market share (%) and growth Rate (%) of Isophthalic Acid in these regions, from 2013 to 2023 (forecast), covering: North America, Europe, Asia Pacific, Middle East & Africa and South America
With the presence of a large pool of participants, the Global Isophthalic Acid Market is displaying a highly competitive business landscape, finds a new research report by Business Industry Reports (BIR). Eastman, HELM, BASF-YPC, Formosa Petrochemical Corporation, Lotte Chemical, Veritas, SRL Chemical, etc. are some of the key vendors of Isophthalic Acid across the world. These players across Isophthalic Acid Market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products.
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Major Points in Table of Contents:
Global Isophthalic Acid Market Report 2019
2 Report Methodology
2.2 Data Source
3 Market Overview
3.1 General Information
3.2 Product Type
3.4 Isophthalic Acid Status & Prospect
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