Terephthaloyl Chloride Market 2017 Growth Drivers, Impact Analysis & Industry Opportunities by 2024

Major constraint for terephthaloyl chloride market is its corrosiveness that creates problems in its storage and increases overall cost. These are not capable to impart stress cracking resistance and provide medium hydrolytic stability. Problems namely carcinogenic behaviour of aramid fibres may hinder its consumption. Demand of high performance polymers is limited due to high price and limited availability. Further, limited thermal stability may restrict terephthaloyl chloride market growth in forecast period.

Based on form, terephthaloyl chloride market is classified as flakes and molten liquid. Molten liquid accounts for higher share with demand in fabrication of flame resistant and chemical resistant materials. Flakes have moderate contribution and expected to increase with growing demand of high performance polymers. On the basis of product, it is segmented into 99%-99.8%, 99.8%-99.9% and above 99.9%. 99%-99.8% has major share with its use for synthesis of liquid crystalline thermosets.

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Based on application, terephthaloyl chloride market is classified into monomer synthesis and automobile industry. Monomer synthesis accounts for major share with utilization for fabrication of aramid fibres and high-performance polymers. Aramid fibres have end use in automotive, marine, defence and aerospace for materials having high strength, light weight and resistance to chemicals and organic solvents. High performance polymers are an attractive segment owing to design flexibility, high dielectric strength and low shrinkage properties.

Terephthaloyl Chloride Market size is anticipated witness a significant growth due to increase demand with applications in monomer synthesis and automobile industry. Aramid fibres can withstand over 500° C and has strength five times that of steel at equal weights. These have high heat resistance and used in protective clothing for aerospace, defence and industrial sector owing to light weight and easy manufacturing. Further, these are involved in manufacturing Kevlar and expected to boost terephthaloyl chloride market.

Kevlar requires high strength, resistance and light weight. There has been a growth in defence industry with increasing terrorist activities border tensions between countries. Kevlar has end use in various industries including, automotive and marine. Further, ongoing research and development to enhance its utilization will enhance terephthaloyl chloride market share.

These are consumed in textile industry to impart chemical resistance, flame resistance and provide temperature stability. It improves chemical, mechanical and physical properties in performance polymers and used for manufacturing components for cyclic and continuous load bearing situations to reduce wear and tear. Performance polymers will register a CAGR over 6% with application in mining, oil & gas, water treatment, automobile and anticipated to propel terephthaloyl chloride market.

It is used in manufacturing copolymers as a replacement of tyres material for racing wheels. It reduces wear & tear of wheels and improve their performance. It even reduces overall weight of the vehicle and thus diminishes vehicular emissions. Automotive wheels market was worth more than USD 82 billion in 2016 and expected to surpass 600 million units till 2024. It will provide a positive outlook to terephthaloyl chloride market growth.

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North America, led by the U.S. account for significant share in global terephthaloyl chloride market owing to demand for aramid fibres in automobiles and protective clothing. Further, the U.S. is spending heavily to strengthening its defence industry. Asia Pacific has substantial share with utilization of performance polymers in medical, electrical and electronics industry. Growth in transportation sectors in developing countries including India, China and South Korea will support product penetration in the region.

Europe has moderate share in terephthaloyl chloride market with prevailing automobile industry. Stringent regulations for workers in construction, oil & gas and steel industry will enhance the adoption of aramid fibres in protective clothing. Middle East & Africa and Latin America have nascent share and shall grow in near future with demand for high performance polymers.

Terephthaloyl chloride market is moderately consolidated with prominent players including DuPont, Transpek, QDBC, Yantai Yuxiang and Teijin. Other key players are Shanong Kaisheng, Changzhou Kefeng, Sigma Aldrich, Transpek Industries and TCI Chemicals. Companies are working in forward integrated manner to reduce their overall cost and increase market share. DuPont manufactures Kevlar that uses TPC for manufacturing aramid fibres.

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