ISOPHTHALIC ACID MARKET ANALYSIS

Market News

Key Development

Several key players in the market are focused on developing organic or inorganic growth strategies such as plant capacity expansion, mergers and acquisition in order to enhance their global presence. For instance,

• In April 2018, Indorama Ventures acquired the purified isophthalic acid (PIA), polyethylene terephthalate (PET) and purified terephthalic acid (PTA) facilities of Cepsa Química in Spain, the chemical subsidiary of energy company Cepsa. The acquired assets produce 220,000 MT per year of PIA.
• The company started commercial production of purified isophthalic acid (PIA) plant located at Alabama, U.S. in December 2018.
• In September 2018, Ineos, the chemical company, signed an agreement to acquire Flint Hills Resources’ intermediates business that produces trimellitic anhydride, purified isophthalic acid and maleic anhydride in Joliet.
• In February 2018, Lotte Chemical Corp., the chemical manufacturing company based in Korea, invest US$ 47.1 million to add production facilities for high value-added purified isophthalic acid (PIA).