May 22, 2024

The Mesitylene Market is driven by growing Demand for Agricultural Chemicals

Mesitylene or 1, 3, 5-trimethylbenzene is an aromatic organic compound which is colorless, volatile and soluble in organic solvents. It is an important intermediate in the manufacturing of various agricultural chemicals and additives. Mesitylene finds major applications in the production of agrochemicals such as fungicides, herbicides and insecticides where it is used as a starting material or a solvent. Growing global population has increased the demand for food which has fueled the need for agricultural production and greater use of agrochemicals.

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.

Mesitylene has versatile chemical properties which make it suitable for various end-use applications. It is used as a solvent in automotive, coating and adhesive industries due to its non-polar and non-protic nature. Mesitylene derivatives can act as precursors for the production of synthetic fragrances, pharmaceuticals and specialty chemicals. Due to its aromatic nature, Mesitylene exhibits excellent solvency properties and is sparingly soluble in water making it an important intermediate in agrochemical manufacturing. However, it is toxic to aquatic life and needs to be handled carefully during transportation and storage. Stringent regulations pertaining to the use of hazardous chemicals can limit the growth of the Mesitylene market.

Market key trends:
One of the key trend in the Mesitylene market has been the increasing demand from the agricultural sector. As the global population expands, there is rising pressure on farmers to boost crop yields using advanced agrochemicals. Mesitylene derivatives are used extensively in the production of herbicides, insecticides, fungicides and other agrichemicals. According to estimates, over US$ 60 Billion worth of agrochemicals are consumed annually worldwide. Asia Pacific region currently represents the largest and fastest growing market for agricultural chemicals due to large cultivable land and rising food demand from countries like China and India. The surging requirement of agrochemicals from this region will drive the sales of Mesitylene in the coming years.

Porter’s Analysis
Threat of new entrants: Low barrier of entry in mesitylene market poses threat. However, established brands dominate distribution channels.

Bargaining power of buyers: Buyers have moderate bargaining power. They can choose between key chemical companies for bulk purchases to negotiate competitive pricing.

Bargaining power of suppliers: Few global chemical companies control supply. Integrated production methods give suppliers an edge innegotiations.

Threat of new substitutes: Limited substitutes exist. Research aims to develop substitutes but mesitylene properties are difficult to replace in applications.

Competitive rivalry: Intense competition between Mitsubishi Gas Chemical, Versalis, Dow, Shell, Ketus Minerals, IdLabs, among others. Pricing pressures and new product differentiation strategies impact rivalry.

Key Takeaways
The global mesitylene market is expected to witness high growth.

North America dominates currently owing to strong demand from solvents and additives industries in the region. Asia Pacific is expected to be the fastest growing market due to increasing consumption in painting and coatings applications in developing countries like China and India.

Key players operating in the mesitylene market are Mitsubishi Gas Chemical, Versalis, Dow, Shell, Ketus Minerals, and IdLabs. Mitsubishi dominates global production while Shell and Versalis have strong distribution networks across regions. New plant expansion projects are planned to cater rising demand between 2023-2030.