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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