Mesitylene, also known as 1,3,5-trimethylbenzene, is an organic compound consisting of a benzene ring substituted with three methyl groups. It is a colorless liquid that is practically insoluble in water but miscible with most organic solvents. Mesitylene is mainly used as an intermediate in organic synthesis for the production of other compounds.
Organic Synthesis is the largest segment driving the growth of the global Mesitylene Market
The global Mesitylene Market is estimated to be valued at US$ 2,814.8 Mn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising demand for mesitylene from the construction industry is expected to be a major factor driving the global mesitylene market over the forecast period. Mesitylene is a key raw material used in the production of polyester resins that are widely used in fiberglass reinforced plastics for various construction applications such as pipes, panels, tanks, etc. The growing construction industry, especially in Asia Pacific region is supporting the growth of fiber reinforced plastics market which in turn is fueling the demand for mesitylene. According to statistics, the global construction industry was valued at over US$ 11 trillion in 2020 and is projected to grow at 4-5% annually until 2025.
SWOT Analysis
Strength: Mesitylene has wide applications in industries like agrochemicals, fragrance, pharmaceuticals, coating, and paints. These varied end-use industries drive its demand.
Weakness: Stringent regulations restrict the use of mesitylene due to potential human health hazards such as eye, skin, and respiratory irritation on exposure.
Opportunity: Growing demand for specialty chemicals and agrochemicals from emerging economies of Asia Pacific presents an opportunity for mesitylene market players.
Threats: Volatility in crude oil prices affects the prices of mesitylene. Additionally, availability of substitute chemicals pose a threat.
Key Takeaways
The global mesitylene market is expected to witness high growth, exhibiting CAGR of 3.8% over the forecast period, due to increasing demand from agrochemical and fragrance industries. The market size for 2023 is US$ 2,814.8 Mn.
Regional analysis
Asia Pacific dominates the global market and the trend is expected to continue owing to the presence of emerging economies like India and China which are witnessing increased agricultural and industrial activities. Moreover, the growing population is propelling the demand for consumer products in the region.
North America is another major market for mesitylene due to vast paints, coatings, and fragrance industries in the US and Canada. Stricter regulations regarding pesticide usage in Europe compared to other regions may slightly hamper the demand.
Key players
Key players operating in the mesitylene market are Mitsubishi Gas Chemical Company Inc., The DOW Chemical Company, Versalis / EniChem, Refinery of Sinopec Jinling (Sinopec), EMD Performance Materials, Toyo Gosei Co., Ltd, Jiangsu Jiuri Chemical Co., Ltd., Nantong Dingji Chemical Technology Co., Ltd. Jurong Anbei Chemical Co., Ltd., and Jinzhou Petrochemical Co., Ltd. These players are focused on capacity expansion plans owing to the rising demand.