by Mesitylene, also known as 1,3,5-trimethylbenzene, is an organic compound that finds applications in fragrances, extraction solvents, diesel and gasoline additives due to its properties such as high solvency, low surface tension and viscosity. It is a colorless liquid that contributes characteristic odors to fuels and lubricant products. In the agricultural sector, mesitylene is used as an intermediate compound in the production of agricultural chemicals and pesticides such as herbicides and insecticides. 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:
The rising demand for agricultural chemicals from the expanding agriculture sector across the globe is a major driver fueling the growth of the mesitylene market. Mesitylene is extensively utilized as an intermediate in the production of several pesticides and herbicides that are applied on crops to increase farm yields. According to data released by the United States Department of Agriculture, the global value of pesticide sales reached US$58.5 billion in 2020 and is estimated to grow further in the coming years. This high demand for agricultural chemicals is augmenting the consumption of mesitylene during their manufacturing process, propelling the mesitylene market growth over the forecast period.
SWOT Analysis
Strength: Mesitylene has applications as an intermediate in the production of other chemicals. It is mainly used as a solvent. Weakness: Health hazards associated with exposure to mesitylene include irritation to eyes, skin, and respiratory tract. Mesitylene is classified as an environmental hazard. Opportunity: Growing demand for polyester resins from end-use industries such as automotive and construction is expected to drive demand for mesitylene. Threats: Stringent regulations pertaining to emissions and disposal of hazardous chemicals may limit the growth of the mesitylene market. Volatility in prices of raw materials can increase the production cost.
Key Takeaways
The global mesitylene market is expected to witness high growth over the forecast period.
Regional analysis: The Asia Pacific region currently accounts for the largest share in the global mesitylene market. Factors such as rapid industrialization and growth of end-use industries such as automotive and construction in emerging economies of China and India are driving the demand for mesitylene in this region.
Key players operating in the mesitylene market are Mitsubishi Gas Chemical Company, DowDuPont, Versalis, Refinery of Sinopec Jinling (Sinopec), EMD Performance Materials, Toyo Gosei, Jiangsu Jiamai Chemical, Nantong Dingji Chemical Technology, and Jurong Anbei Chemical.
