Global Phthalic Anhydride Market was valued at US$ 3.65 Bn in 2017 and is expected to reach US$ 6.08 Bn by 2026, at a CAGR of 6.6 % during a forecast period.
Global Phthalic Anhydride Market
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding phthalic anhydride market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in phthalic anhydride market.
Phthalic anhydride is an organic compound which is the anhydride of phthalic acid. It is a white crystalline solid. It is a significant industrial chemical and used for production of plasticizers for plastics. It is also used as an intermediate in organic chemistry. Phthalic anhydride compound is formed by oxidation reaction of ortho-xylene and naphthalene.
Phthalic anhydride has major use in the production of polyester resins and other minor uses in the production of alkyd resins which are used in paints and lacquers, certain guys, insect repellents, and urethane polyester polyols. High demand for PVC in construction and the automotive industry is expected to spur the demand for plasticizers. High concentration of o-xylene in the feed gas results lower investment and operation costs, technology design allows using any suitable commercially available oxidation catalyst are the major driver of the market. Additionally, an increase in the demand for non-phthalates in the manufacturing of PVC compound is a major restraining issue for the growth of the global phthalic anhydride market.4
Based on derivatives, the Plasticizers segment is expected to contribute major revenue share to the global market and is expected to maintain its dominance over the forecast period. The rising demand for plasticizers for the manufacture of flexible PVC is anticipated to drive the plasticizers market during the forecast time frame. The manufacture of flexible PVC consumes about 85% of the plasticizers segment. The necessity to soften plastics for usage in various End users, such as wire & cable, film & sheet, and flooring & wall covering, among others by increasing the flexibility of plastics, have led to high demand for plasticizers. The ease of use of phthalate plasticizers at low-cost rates and wide usage in various industries are the major reasons for the high growth of phthalates in the market.
In terms of end-user, the construction segment accounts for highest share in terms of revenue in the global market. The construction industry is expected to be the largest market for phthalic anhydride due to a wide range of end-use End users of PVC, UPR, and alkyd resin in different products.
However, the transition toward a customer and services-driven economy provides chances for growth in the construction industry with the demand for buildings catering to education, healthcare, and social infrastructure, along with retail and other customer end-markets.
Regionally, in India phthalic anhydride demand has been growing, owing to the government's increased focus and expenditure on infrastructure and housing development. The rising demand for PVC from the automotive and construction industries in APAC, due to increasing investments, is likely to drive the phthalic anhydride market during the forecast period. North America is expected to show a stable demand for phthalic anhydride from the construction & renovation industry during the forecast timeframe. Nevertheless, stringent environmental regulations in Europe and North America are expected to hinder the market to some extent due to the toxicity of phthalic anhydride. The Middle East & Africa is likely to witness a moderate demand for phthalic anhydride from the growing construction industry due to government initiatives to flourish tourism industry.
Scope of Global Phthalic Anhydride Market:
Global Phthalic Anhydride Market, by Derivatives:
• Unsaturated polyester resins
• Alkyd resins
• Flame retardant
• Dyes & pigments
Global Phthalic Anhydride Market, by End user:
• Electrical and electronics
Global Phthalic Anhydride Market, by Region:
• North America
• Middle East & Africa
• Asia Pacific
• Latin America
Key Players Operating In Global Phthalic Anhydride Market:
• 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
• Cp-Chem Co. Ltd.
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