Market Scenario
Phthalic anhydride is white, crystalline, organic compound known by the
formula C6H4(CO)2O. It is used to synthesize plasticizers, unsaturated
polyester resins, alkyd resins, flame retardants, and dye & pigments among
other. High demand for phthalic anhydride-based products from the construction,
automotive, electrical & electronics, paints & coatings, and plastic
industries is expected to drive the global phthalic anhydride market over the
forecast period 2017-2023.
Market Segmentation The global phthalic anhydride market is
segmented based on application, end-use industry, and region.
On the basis of the application, the global phthalic anhydride market is
segmented into plasticizers, unsaturated polyester resins (UPR), alkyd resins,
flame retardant, dyes & pigments, and others (urethane polyester polyols,
rubber scorch inhibitor, insecticide, herbicide, detergent, saccharin).
Plasticizers are accounted to have the largest market share in 2017 due to
growing demand for PVC in the construction industry for applications like pipes
& fittings, profile & hoses, wires & cables, and floorings among
others. Plasticizers are used to address the problem of moldability of PVC,
curing of coatings, and surface protection. Moreover, UPR is expected to
witness rising demand over the forecast period due to its application in
reinforced composites and surface coatings.
On the basis of the end-user industry, the global phthalic anhydride
market is categorized into construction, automotive, electrical and
electronics, and others. The construction industry is expected to be the
largest market for phthalic anhydride due to a wide range of end-use
applications of PVC, UPR, and alkyd resin in different products.
Regional Analysis The global
phthalic anhydride market is spanned across five regions namely Asia Pacific,
North America, Europe, Latin America, and the Middle East and Africa.
Asia Pacific is expected to hold the major market share over the forecast
period. Europe and North America are expected to witness steady demand for the
phthalic anhydride during the forecast period. The Middle East & Africa is
expected to witness moderate demand for phthalic anhydride during the forecast
period. Latin America is expected to show sluggish growth due to the slow
growth of the region
Competitive Analysis Some of
the key players in the global phthalic anhydride market are BASF SE (Germany),
Hongxin Chemical (China), NAN YA PLASTICS CORPORATION (Taiwan), ExxonMobil
Corporation (U.S.), AEKYUNG PETROCHEMICAL Co., Ltd (Republic of Korea), I G
Petrochemicals Limited (India), Polynt SPA (Italy), Koppers Inc. (U.S.),
Mitsubishi Gas Chemicals Co. Inc. (Japan), and UPC Group (Taiwan).
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