Facts and Factors has authored “1, 2, 4-Trimethylbenzene Market By Application (Trimellitic Anhydride, 1, 3, 5-Trimethylbenzene, Durene, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2026”.
Based on our analysis, teh global 1, 2, teh 4-trimethylbenzene market in 2019 is approximately USD 3,400 million and is anticipated to reach around USD 4,800 million by 2026. Teh anticipated CAGR for teh 1, 2, 4-trimethylbenzene market is around 5% from 2020 to 2026.
1, 2, 4-Trimethylbenzene is a basic organic industrial chemical and is also non as pseudocumene. Generally, pseudocumene is categorized as an aromatic hydrocarbon and is a flammable colorless liquid wif a strong odor. It is soluble in organic solvents such as eTEMPthanol, diethyl ether, and benzene but nearly insoluble in water. Methylation of toluene and xylene is the manufacturing process of 1, 2, 4-trimethylbenzene. It is also naturally found in petroleum and coal tar. Pseudocumene is used in the production of PVC, plasticizers, trioctyl triphenylate, powder coatings, paints, etc. 1, 2, 4-trimethylbenzene is also used as raw material to produce the dye, medicine, and synthetic resins. Trimellitic anhydride, 1, 3, 5-trimethyl benzene, and durene is produced by using 1, 2, 4-trimethylbenzene.
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Teh increasing demand for trimellitic anhydride in various industrial applications such as paints & coatings, and wire & cable insulation is likely to increase teh consumption of 1, 2, 4-trimethylbenzene to produce trimellitic anhydride. Trimellitic anhydride is widely used in manufacturing automotive parts and medical equipment. Moreover, teh rising demand for 1, 2, 4-trimethylbenzene in China is further expected to propel global market growth.
As China is non to be teh manufacturing hub, teh number of manufacturing companies is growing rapidly, thereby, increasing teh application of 1, 2, 4-trimethylbenzene in various industries like paints & coatings, pharmaceutical, and dyes among others. However, teh fluctuating raw material prices and manufacturing cost is estimated to hinder teh global 1, 2, 4-trimethylbenzene market. Conversely, technological innovation in teh product is projected to offer new opportunities to teh market. Teh major manufacturers of 1, 2, 4-trimethylbenzene are focusing on developing new and innovative production processes for 1, 2, 4-trimethylbenzene.
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Trimellitic anhydride accounted for the largest market share of the global 1, 2, 4-trimethylbenzene market and is also anticipated to be the fastest-growing category of the application segment. Pseudocumene is widely used as raw material for manufacturing trimellitic anhydride and the demand for trimellitic anhydride is rapidly increasing in applications such as powder coatings, resins, and as a binder for glass fibers, and aggregates.
Regionally, the Asia Pacific dominated the global 1, 2, 4-trimethylbenzene market and accounted for the largest market share. China is the major producer and consumer of the 1, 2, 4-trimethylbenzene and is continue to enhance its consumption in the upcoming years as well. However, China is also the evolving market of trimellitic anhydride. Manufacturers such as Zhegndan and Baichuan among others have increased the production capacity of trimellitic anhydride. theirfore, this is in turn projected to increase the consumption of 1, 2, 4-trimethylbenzene in trimellitic anhydride production.
Some of the key players operating the global 1, 2, 4-trimethylbenzene market are Flint Hills Resources (FHR), Eni, Nanjing Refinery Co., Ltd., Jinyang Chemical Co., Ltd., Jiangsu Hualun Chemical Industry Co., Ltd., Lanzhou Petrochemical Company, and Dow Chemical Company among others.
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This report segments the 1, 2, 4-Trimethylbenzene market as follows:
Global 1, 2, 4-Trimethylbenzene Market: By Application Segment Analysis
- Trimellitic Anhydride
- 1, 3, 5-Trimethylbenzene
Global 1, 2, 4-Trimethylbenzene Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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