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Global Phthalic Anhydride and Derivatives Market InsightApril 24, 2022 Comments
The Phthalic Anhydride and Derivatives is forecast to smooth over the next few years. According to the WK-chem Research “Global Phthalic Anhydride and Derivatives Professional Survey Report 2022, Forecast to 2027”, with the increasing demand of the Industrial catalysts and solvents industry，the Phthalic Anhydride and Derivatives industry is developing at an incredible speed. According to the WK-chem regression analysis model, the compound annual growth rate (CAGR) for the period 2022-2027 is expected to be 4.40%.
The main commercial form of phthalic acid is phthalic anhydride. Phthalic anhydride derivatives include unsaturated polyester resins, alkyd resins and plasticizers. Rising battery consumption and increasing use of phthalic anhydride derivatives as industrial catalysts and solvents have been driving the market growth.
Anhydride-derived products are of great importance in industries such as plastics, automotive, paints and coatings, electrical and electronics. The demand for phthalic anhydride depends on the demand for its downstream products. Because, these products interact directly with customers; any changes in the consumption patterns of these products will be reflected in the consumption of PAs. Renewable energy production of phthalic anhydride from biomass-derived furans and maleic anhydride is likely to provide opportunities for the phthalic anhydride derivatives market over the next five years.
This WK-chem market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Phthalic Anhydride and Derivatives companys that include 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.) .etc.
Segmentation of Phthalic Anhydride and Derivatives Market:
The Phthalic Anhydride Derivatives Market is segmented by Type into Unsaturated Polyester Resins Alkyd Resins, Plasticizers, Others. Plasticizers dominate the market. Plasticizers are an important class of chemical product additives. As additives, they are widely used in plastic products, concrete, marl, cement, gypsum, cosmetics and cleaning agents, especially in polychlorinated products. In vinyl plastic products, in order to increase the plasticity of the plastic and improve the strength of the plastic, it is necessary to add phthalates. By application, it is divided into construction, automotive, electrical and electronics, aerospace, others. The construction industry dominates the market and will be the dominant segment owing to increasing government investments in global infrastructure expansion and growth in the residential sector. Phthalic anhydride is used in the production of dioctyl phthalate, which is further used as a plasticizer for PVC. Growing demand for PVC product molding in many applications in the construction industry such as pipes, windows, floors, and roofs is likely to drive market growth.
Phthalic Anhydride and Derivatives Market: Regional Analysis
In terms of geography, the global Phthalic Anhydride and Derivatives market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Asia Pacific will be the largest and fastest growing market for phthalic anhydride derivatives. Factors such as booming paint and coatings industry, growing plastic consumption in the region, and increasing preference for manufacturing companies due to low labor costs, in turn, drive the demand for terephthalic anhydride derivatives in Asia Pacific. China is the largest paint and coatings producer in the Asia-Pacific region, and the demand for plastics is expected to increase as the country’s packaging and industries develop. Due to these factors, the demand for plasticizers in China is expected to increase, which in turn is expected to increase the demand for phthalic anhydride for plasticizers.
Largest share area：Asia-Pacific
largest share country：China
Product Type：Unsaturated Polyester Resins Alkyd Resins, Plasticizers
Application：construction, automotive, electrical and electronics, aerospaceLeading Company：BASF (Germany), Shandong Hongxin (China), Nan-Ya Plastics (Taiwan), ExxonMobil Chemical (U.S.), Aekyung Petrochemical (Japan)