Market Size of Phthalic Anhydride Derivatives Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Phthalic Anhydride Derivatives Market Analysis
The market for phthalic anhydride derivatives is expected to grow at a CAGR of more than 4.4% globally during the forecast period. A principal commercial form of phthalic acid is phthalic anhydride. Phthalic anhydride derivatives include unsaturated polyester resins, alkyd resins, and plasticizers. The growing consumption of batteries and increasing use of the phthalic anhydride derivatives as industrial catalysts and solvents have been driving the market growth.
- However, the toxicity related to phthalic anhydride derivatives and the outbreak of coronavirus across the globe is likely to hinder the growth of the studied market.
- The renewable production of phthalic anhydride from biomass-derived furan and maleic anhydride are likely to provide opportunities for the phthalic anhydride derivatives market over the next five years.
- The construction industry is the most dominating end-user industry of the market studied.
- Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China and India.
Phthalic Anhydride Derivatives Industry Segmentation
The phthalic anhydride derivatives market report include:
| Derivatives | |
| Unsaturated Polyester Resins | |
| Alkyd Resin | |
| Plasticizer | |
| Other |
| End-user Industry | |
| Construction | |
| Automotive | |
| Electrical and Electronics | |
| Aerospace | |
| Others |
| Geography | |||||||
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Phthalic Anhydride Derivatives Market Size Summary
The phthalic anhydride derivatives market is poised for significant growth, driven by its application in unsaturated polyester resins, alkyd resins, and plasticizers. These derivatives are increasingly utilized in the production of batteries, industrial catalysts, and solvents, contributing to the market's expansion. The construction industry emerges as the primary end-user, with phthalic anhydride playing a crucial role in the production of dioctyl phthalate, a key plasticizer for PVC used in various construction applications. Despite challenges such as toxicity concerns and the impact of the coronavirus pandemic, the market is expected to benefit from renewable production opportunities and the ongoing demand for high-performance materials in construction.
The Asia-Pacific region leads the global market, with countries like China and India at the forefront due to their robust paints and coatings industry and growing plastic consumption. The region's market growth is further supported by low labor costs, attracting manufacturing companies. China's position as a major consumer of plastics, coupled with significant investments in its construction sector, underscores the increasing demand for phthalic anhydride derivatives. The market's fragmented nature features key players such as BASF SE, Koppers Inc., I G Petrochemicals Ltd, and LANXESS, all contributing to the competitive landscape.
Phthalic Anhydride Derivatives Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Consumption of Plastics in Construction Sector
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Toxicity related to Phthalic Anhydride
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1.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Derivatives
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2.1.1 Unsaturated Polyester Resins
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2.1.2 Alkyd Resin
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2.1.3 Plasticizer
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2.1.4 Other
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2.2 End-user Industry
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2.2.1 Construction
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2.2.2 Automotive
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2.2.3 Electrical and Electronics
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2.2.4 Aerospace
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2.2.5 Others
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 France
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2.3.3.4 Italy
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Phthalic Anhydride Derivatives Market Size FAQs
What is the current Phthalic Anhydride Derivatives Market size?
The Phthalic Anhydride Derivatives Market is projected to register a CAGR of greater than 4.40% during the forecast period (2024-2029)
Who are the key players in Phthalic Anhydride Derivatives Market?
The Chemical Company, Koppers Inc., I G Petrochemicals Ltd, LANXESS and BASF SE are the major companies operating in the Phthalic Anhydride Derivatives Market.
