Phthalic Anhydride Market Analysis, Share, Size, Emerging Trend and Region – Forecast to 2023

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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