Global Terephthaloyl Chloride (TPC) Market Expected to Reach USD 3,266.1 Million by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Terephthaloyl Chloride (TPC) Market by Type, Application and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 2,461.2 Million in 2019 and is expected to grow at a healthy growth rate of 3.6% by the year 2027.

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The global Terephthaloyl Chloride (TPC) market is segmented into different segments that are type, application and Region. Based on type, the global Terephthaloyl Chloride (TPC) market is segmented into the following categories: Industrial Grade, Food Grade. Based on application, the global Terephthaloyl Chloride (TPC) market is segmented into Performance Polymers, Aramid Fibers, Water Scavenge, Other. Based on the region, the global Terephthaloyl Chloride (TPC) market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America region is further bifurcated into countries such as the U.S., and Canada. The Latin America region is further segmented into Brazil, Mexico, and the Rest of Latin America, the Asia Pacific is further segmented into, India, China, South Korea, Australia, Japan, and Rest of Asia Pacific. The European region is further categorized into the U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa (MEA).

In the year 2020, the Terephthaloyl Chloride (TPC) market is expected to witness a lower sale due to the adverse effect COVID 19 pandemic on business across the world. The COVID-19 pandemic has had a rapid and serious impact on the global manufacturing and financial sectors. Global disruptive supply chain, lack of raw material availability, temporary shutdown of production units is the reason for lower production output. Moreover, global demand from the customer’s side has also fallen due to the spread of the pandemic.

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As per GMR industry analyst Vidya Yadav, “The global Terephthaloyl Chloride (TPC) market is anticipated to witness significant growth during the forecast period 2020-2027 driven by the growing demand for Kevlar. The increasing use in automobile industry has also boost its demand in the sector. Chemical, mechanical, and physical properties of terephthaloyl chloride (TPC) has attracted automobile manufacture’s attention for the chemical compound. Moreover, a wide application area of TLC has also pushed its sales further into consumer products, industrial gadgets market. High investment & advancement in manufacturing technology also help in utilization of terephthaloyl chloride production.”

Key Takeaways from the Study:

• North America market is expected to remain highest market share holder in the globe. Aramid Fibers segment is accounted to have a larger market size. Also, Performance Polymers segment is expected to grow high during forecast period.
• The growing demand for aramid fibers has highly impacted the growth of terephthaloyl chloride in North America market. In addition, demand from end user industries like marine and aerospace for high strength and lightweight materials, have also increased in past years in the region.
• Asia Pacific accounted for almost one fourth of the global market in 2019 and expected to expand at highest CAGR during the forecast owing to rising utilization of performance polymers in electronics and medical industry.
• Due to the governmental interventions and regulations for workers in multiple industries will accelerate the adoption of aramid fibers for protective clothing in Europe. Also, growing automobile industry uplifts the terephthaloyl chloride market in the region.

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Report Scope:

Target Audience:

• Supply-side: Terephthaloyl Chloride (TPC) manufacturers, raw material suppliers, primary respondents, and distributors.
• Demand Side: Food processing companies, water scavenge companies, performance polymers end use companies.
• Regulatory Side: American Chemical Society, Chemical Sector Regulatory Authorities and Eos, The Environmental Protection Agency (EPA), Chemicals Regulation Division (CRD), European Chemicals Agency.
• Associations and Industry Bodies: Association of International Chemical Manufacturers(AICM), JCIA Japan Chemical Industry Association, Society of Chemical Manufacturers and Affiliates, International Council of Chemical Associations, The Chemical Industries Association (CIA), Chemical Manufacturers Association, Alliance of Chemical Associations, The National Association of Chemical Distributors.

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