A concerted effort towards the commercialization of PET packaging has triggered growth in 5-isopropyl-m-xylene industry value. Not to mention, mixed xylenes have found traction in the production of ethylbenzene as solvents in products, including paints and coatings.
Expanding penetration of 5-isopropyl-m-xylene compound in organic synthesis, terephthalic acid and research activities has stimulated investments in the industry. According to an estimate, 5-isopropyl-m-xylene market size will witness a considerable gain by 2026.
Novasep has infused funds in organic synthesis to conduct demanding reactions which can produce pure organic compounds in a time efficient and cost-effective manner. The company has upped its focus towards cryogenic reactions to use highly reactive compounds such as organolithium reagents. Similar developments will highlight the potential of 5-isopropyl-m-xylene industry.
Notable panic buying of PET products in North America and Europe amidst COVID-19 pandemic fared well for prominent companies vying to boost their portfolios. Penetration of downstream polyethylene terephthalate (PET) in Europe became noticeable in 2020, the trend will continue in 2021 and beyond.
An unprecedented surge in demand for products made of PET, including certain foods and water bottles has got the industry moving. It appears that the fear of contagion and growing awareness towards hygiene in the food industry have prompted people to go back to buying pizzas in PET trays.
The chemical business of the Indian conglomerate—Reliance Industries—has picked pace as profit margins for PET used in beverage bottles witnessed a substantial gain in 2018/19.
While Sigma Aldrich came up with Corning PET storage bottles, Amcor rolled out OmniPack stock PET bottles for e-commerce-ready packaging in April 2020. Amcor believes the launch will help them minimize or eliminate the requirement for secondary packaging and will bolster the capacity. Sigma Aldrich is also a provider of 5-isopropyl-m-xylene.
Amcor had also launched a PET container using apparently 100% post-consumer recycled content resin. Precursors for PET—purified terephthalic acid and p-xylene—are likely to be sought-after among the end-users.
Companies have also upped their investments in plant tissue culture on the heels of trend towards high scale production. Research activities in tissue culture have increased in the past several years as development in techniques has led to surmount the downsides of low concentrations of secondary metabolites in whole plants.
Mergers and acquisitions are a key part of the market when it comes to sustain competition. While Toronto Research Chemicals was acquired by LGC in August 2019, a consortium led by Astorg and Cinven acquired LGC in November 2019.
Currently, LGC has furthered its investments in research and development activities through end-to-end offerings and CDMO capabilities. Leading companies are touted to invest in research activities and PET bottles, with suppliers are expected to appear on a positive track as buoyancy is likely to be witnessed in 2021 and beyond.
Forward-looking companies will potentially infuse funds in PET resins—bottle-fiber or film grade—with its penetration in container packaging through thermoforming and moulding setting the trend. With tissue culture methods garnering industrial importance among businesses vying to enhance efficiency, stakeholders in 5-isopropyl-m-xylene industry are likely to boost their business strategies.
