The Global Phthalic Anhydride market is forecast to reach USD 13.18 Billion by 2027, according to a new report by Reports and Data. Phthalic anhydride [PA] is a white solid organic compound having the molecular formula of C6H4(CO)2O. It appears as colorless to white lustrous solid with a mild distinctive odor, in the form of needles. It has a Flash point of 305°F and Melting point 64°F. It finds various applications ranging from plasticizer, and artificial resins, among others, which acts as one of the mentionable factors propelling the growth of the market. Factors like high demand for PVC in the Asia Pacific, the rising demand for Polyester Polyols, and the growing demand for Alkyd Resins are supporting the overall growth of the market. Various initiatives taken by the market players are also positively impacting the market growth.
Key participants include BASF SE, AEKYUNG PETROCHEMICAL Co.,
Ltd, Exxon Mobil Corporation, Koppers Inc., I G Petrochemicals Ltd., MITSUBISHI
GAS CHEMICAL COMPANY INC., LANXESS, NAN YA PLASTICS CORPORATION, Stepan
Company, and Polynt.
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As an instance, in September 2019, Polynt-Reichhold Group, one
of the mentionable market players, had announced that it had decided to expand
its strategic integration initiative to America, which it had employed in Asia
and Europe. In order to expand its strategic integration initiative, it would
invest in the local production of Phthalic Anhydride and Maleic intermediates.
Thus, such initiatives by market players would also support the overall growth
of the market. In context to region, Europe can be seen to occupy a significant
share of the market. The market share held by the region is attributed to the
continuous expansion of the automotive and healthcare sector in this region.
The continuous expansion of the healthcare sector results in extensive use of
PVC in various medical applications, including infusion, and medical tubing for
IV, among others, which also positively impacts the expansion of the market in
this region.
For the purpose of this report, Reports and Data have
segmented the global Phthalic Anhydride market according to Form, Derivatives,
End-user, and Region:
Form Outlook (Volume, Kilo Tons; Revenue, USD
Billion; 2016-2027)
- Molten
- Flake
Derivatives Outlook (Volume, Kilo Tons; Revenue,
USD Billion; 2016-2027)
- Unsaturated
Polyester Resin (UPR)
- Phthalate
plasticizers
- Alkyd
Resins
- Others
End-user Outlook (Volume, Kilo Tons; Revenue,
USD Billion; 2016-2027)
- Electrical
and Electronics
- Automotive
- Plastics
- Paints
& coatings
- Others
Application Outlook (Volume, Kilo Tons;
Revenue, USD Billion; 2016-2027)
- Wire
& Cable
- Flooring
& Wall Coverings
- Consumer
Goods
- Film
& Sheet
- Coated
Fabric
- Adhesives
And Glues
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD
Billion; 2016-2027)
- North
America
- Europe
- Asia
Pacific
- MEA
- Latin
America
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Key
Highlights of the Competitive Landscape of the Global Phthalic Anhydride
Market:
- The latest report is inclusive of the industry
share, production facilities, development prospects, and geographies
served by each market player.
- It offers actionable insights into the
competitive spectrum of this business sphere. It goes on to enlist the
detailed profiles of each market competitor.
- The study highlights the extensive product
portfolios of the prominent market contenders and offers critical data and
information about the application scope, as well as specifications of
these products.
- Moreover, it provides crucial insights into the
competitive scenario of the market, focusing on the gross profits and
losses experienced by these players.
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