Global Phthalic Anhydride Market by Derivatives (plasticizers, unsaturated polyester resins, alkyd resins, flame retardant, dyes & pigments), by end-user (automotive, electrical and electronics, construction and Others) and by region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) is expected to reach US$ XX Bn by 2027, at a CAGR of XX% during a forecast period.
Phthalic anhydride is an organic compound with a molecular formula C6H4(CO)2O. It is white, lustrous crystalline flakes or molten form, and has a pungent choking odor. It is a commercial form of phthalic acid. The most significant reaction of Phthalic Anhydride is with alcohols and which will produce esters or polyesters. It is produced by the oxidation of naphthalene in concentrated sulfuric acid in the presence of mercury sulfate. Phthalic anhydride is widely used in the production of phthalate plasticizers for making polyvinyl chloride (PVC). The other major applications of phthalic anhydride consist of unsaturated polyester resins (UPR), alkyd resins, dyes & pigments, flame retardant, and others (rubber scorch inhibitor, insecticide, herbicide, detergent, saccharin).
Plasticizers sector are rapidly increasing during the forecast period.
Plasticizers make PVC soften to make it flexible and bendable. This opens up enormous range of possibilities for new applications. One of the major aids of plasticizers is the durability they confer onto PVC applications, which can ensure high performances for up to 50 years.
Without plasticizers, PVC must be rigid, such as the PVC used in wastewater pipes. The building and construction industry needs to adjust a number of trends, including higher execution, increased strength, enhanced safety, better aesthetics, reduced maintenance, greater energy efficiency, reduced material use and waste, and lower costs. The other growing applications of PA include dyes and pigments, fire retardants and polyester resin cross-linking agents.
Construction sector are rapidly increasing during the forecast period.
The building and construction industry should be with a number of trends, including higher performance, increased durability, greater energy efficiency, improved safety, better aesthetics, and reduced maintenance reduced material use and waste, and lower costs. Automobile and construction controlled the global phthalic anhydride consumption and the positive growth in this industry across the globe is driving the PA market. Rising demand for the product for manufacturing reinforced laminates and surface coating industry is expected to drive growth.
The Phthalic Anhydride Market in Asia-Pacific region is expected to hold the largest share during the forecast period.
Asia Pacific was the largest consumer in 2017 on account of the growth of construction and automotive industries, particularly in China and India. Asia Pacific phthalic anhydride market was valued at USD 3.55 billion in 2017 and is expected witness robust growth over the forecast period due to abundant raw material availability. North America accounted for over 14% of the revenue share in 2017. Recovery of the construction industry in the U.S. post the economic downturn in 2017-18 is expected to promote application scope of specialty polymers.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufactures such as BASF SE, Hongxin Chemical, NAN YA PLASTICS CORPORATION, ExxonMobil Corporation, Aekyung Petrochemical Co., Ltd, I G Petrochemicals Limited, Polynt SPA, Koppers Inc., Mitsubishi Gas Chemicals Co. Inc., UPC Group, Asian Paints, Shandong Hongxin and Cp-Chem Co. Ltd. Key players and manufactures are focusing on entering the new market by producing and launching technically advance and cost-effective products in the market. Production capacity expansion, brand portfolio expansion, mergers, collaborations, joint ventures and acquisitions of innovative businesses is the key trend to foot hold and penetrate market.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about global phthalic anhydride market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for taking in product strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global phthalic anhydride market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global phthalic anhydride market positioning of competitors.
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