by Mesitylene, also known as 1,3,5-trimethylbenzene, is an aromatic organic compound. It is a colorless liquid with a mild aromatic odor. Mesitylene is mainly used as an intermediate in the production of various agricultural chemicals such as herbicides, fungicides, and insecticides. It also finds application in the manufacturing of paints, solvents, and fragrance chemicals. The increasing demand for agricultural produce to feed the growing global population is a major factor boosting the production of agricultural chemicals, which in turn drives the demand for mesitylene.
The 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 Dynamics:
Increasing demand for agricultural chemicals:
The global population is expected to reach nearly 10 billion by 2050. To meet the rising food demand of the growing population, agricultural production needs to increase substantially. This amplifies the demand for agricultural chemicals such as herbicides, fungicides, and insecticides that help maximize crop yields. Mesitylene acts as an important intermediate in the manufacture of several agricultural chemicals. Therefore, the growth in agricultural chemical industry directly influences the mesitylene market.
Rising consumption of paints and coatings:
Mesitylene is used as a solvent in paints, coating, and adhesive applications owing to its favorable solvent properties. The architectural paints industry has witnessed steady growth over the years, driven by factors such as increasing residential and non-residential construction activities worldwide. Furthermore, the growing automotive industry has boosted the demand for paints and surface coatings. This, in turn, favors the growth of the global mesitylene market.
Segment Analysis
The mesitylene market is dominated by the solvent segment which holds more than 70% of the total market share. Mesitylene is used as an intermediate and an organic solvent in various industries such as agrochemicals, pharmaceuticals, coatings and others. In the solvent segment, it is used as a co-solvent and diluent for resins, polymers, dyes and pigments. Its high stability, solubility for organic compounds and low volatility makes it suitable for use as a solvent.
PEST Analysis
Political: There are no stringent regulations pertaining to the production and consumption of mesitylene. However, local authorities regulate emission and disposal of industrial waste.
Economic: The global GDP growth along with rise in demand from end-use industries such as agrochemicals, coatings and pharmaceuticals is expected to drive the mesitylene market during the forecast period.
Social: Increased safety awareness and worker welfare policies adopted by manufacturers have led to the use of low toxic solvents like mesitylene replacing benzene and other aromatic hydrocarbons.
Technological: Production technologies are being improved to reduce production costs and minimize environmental footprint. New mesitylene derivatives with enhanced properties are also being developed.
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 pharmaceutical industries. The solvent segment is anticipated to remain the major revenue generating segment owing to high usage of mesitylene as a co-solvent and diluent.
The Asia Pacific region dominated the global market in 2023, accounting for more than 40% of the total demand, with China being the major consumer. This can be attributed to presence of large agrochemical and construction industries in the region.
North America is expected to exhibit rising demand for mesitylene ascribed to increasing shale gas extraction activities and an established pharmaceutical industry in the US.
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. Mitsubishi Gas Chemical is one of the prominent suppliers with an integrated production process.
