Key Companies Covered in the Phthalic Anhydride and Derivatives Market Research are Shandong Hongxin (China), Nan-Ya Plastics (Taiwan), ExxonMobil Chemical (U.S.), Aekyung Petrochemical (Japan), IG Petrochemicals (India), and other key market players.
Phthalic anhydride is an important compound derived from the oxidation reaction of naphthalene. On the basis of application areas, the market of phthalic anhydride can be broadly segmented into plasticizers, unsaturated polyester resins, alkyd resins, and others. Plasticizer is the main phthalic anhydride application and serves an array of industries due to its various properties and performance advantages. Among the important plasticizers, DOP and DINP are more commonly used phthalate plasticizers.
The Asia-Pacific region is the largest market for phthalic anhydride, consuming more than three-fifth of its total global demand. The region has potential for the product due to increasing demand for its end-user products. However, with the increasing focus on environmental as well occupational safety, the use of phthalic anhydride in its end-user applications is being restricted or banned in some applications. In some cases, phthalic anhydride is also being replaced by suitable substitutes. Thus, the growth in demand of the anhydride is estimated at a slower pace in European and North American markets during the forecast period.
The important end-user industries of phthalic anhydride include construction, automotive, electrical & electronics, and paints & coatings, which are growing at a good pace. The key drivers for the increasing demand of phthalic anhydride is majorly due to increasing demand from Asia-Pacific region and relatively higher estimated growth rate in alkyd resins application.
This study on the phthalic anhydride market estimates its global demand and its market value for 2012, and projects the expected demand and market value of the same by 2031. As a part of quantitative analysis, the study segments the global market by derivatives and geography with current market estimation and forecast till 2031. The countries covered in the report are India, China, Japan, U.S., Italy, Germany, and France. The segmentation by derivatives includes plasticizers, unsaturated polyester resins (UPR), and alkyd resins.
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Further, as a part of the qualitative analysis, the research provides report with a comprehensive review of important drivers, restraints, opportunities, winning imperatives, and key issues in the market. It also includes the company profiling and competitive strategies adopted by various market players including BASF (Germany), Shandong Hongxin (China), Nan-Ya Plastics (Taiwan), ExxonMobil Chemical (U.S.), Aekyung Petrochemical (Japan), IG Petrochemicals (India), Polynt SPA (Italy), and Koppers Industries (U.S.).
The global phthalic anhydride market is estimated to grow at a CAGR of 3.40% over the next five years, to reach a demand of 4,828.80 KT by 2031. The Asia-Pacific region, with its thriving economies and rapidly expanding population, is expected to remain the largest market for phthalic anhydride from 2022 to 2031.
Scope of the report
Phthalic anhydride market on the basis of geography:
- North America
- Rest of the World
Phthalic anhydride market on the basis of derivatives:
- Unsaturated Polyester Resins
- Alkyd resins
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- Plasticizers: Regional analysis with country level breakup
- Unsaturated Polyester Resins: Regional analysis with country level breakup
- Alkyd Resins: Regional analysis with country level breakup
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