Global Phthalic Anhydride Market Research Report - Forecast till 2025
発行: Market Research Future
ページ情報: 英文 218 Pages
Global Phthalic Anhydride Market is expected to register a CAGR of 4.2% to reach USD 7,213.7 Million By the end of 2025. Phthalic anhydride is an organic, crystalline compound and is composed through the oxidation of naphthalene or o-xylene. It is the economic form of phthalic acid and used to produce artificial resins and is a chemical median for the production of polyvinyl chloride (PVC). The PVC becoming an ideal selection for building & construction applications such as wiring and cables, flooring, and plumbing due to its strength, moisture & abrasion resistance, non-flammability, dimensional stability, and low cost.
The Global Phthalic Anhydride Market is expected to witness the incredible growth during the review period owing to its adoption in building & construction, automotive, electrical & electronics, other industries, and its use in alkyd resin production. The use of unsaturated polyester resin as a matrix for fiber-reinforced plastics (FRPs) is likely to propel the market as it is applicable in naval construction, offshore, water piping, building & construction, shipbuilding, and automotive applications.
The Global Phthalic Anhydride Market has been classified by Derivative, Application, End-Use Industry, and Region. Based on the derivative, the global market is categorized into phthalate esters, phthalimide, phthalein, phenolphthalein, and others. The phthalate esters are extensively used as plasticizers in PVC manufacturing.
By Application segment, the market has been classified into plasticizers, unsaturated polyester resin, alkyd resin, flame retardants, dyes and pigments, and others. In 2018, the plasticizer segment gripped the largest market share of around 50%. Based on End-Use Category, the market is segmented into building & construction, automotive, electrical & electronics, healthcare, agriculture, and others. The building & construction segment is forecasted to exhibit a CAGR of 4.6% during the forecast period.
The region-specific analysis of Global Phthalic Anhydride Market is spread across Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Asia-Pacific is likely to drive the global Phthalic Anhydride Market owing to growing industrialization and urbanization in growth-centric countries such as India, South Korea, and Malaysia. The region was contributed a 60% share in 2018 and was valued USD 3,439 Million. Europe contributed the second-largest market of the global market and ready to witness substantial expansion due to rising demand for PVC in automobile manufacturing.
The Key Players operating in the Global Phthalic Anhydride Market include BASF SE (Germany), SHANDONG HONGXIN CHEMICAL CO. LTD (China), AEKYUNG PETROCHEMICAL Co., Ltd (South Korea), C-Chem Co. Ltd (Japan), NAN YA PLASTICS CORPORATION (Taiwan), IG Petrochemicals Ltd (India), Exxon Mobil Corporation (US), Mitsubishi Gas Chemical Company, Inc. (Japan), Koppers Inc. (US), and Thirumalai Chemicals Ltd (India).
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