Global Phthalic Anhydride Market Trends, Applications, Analysis, Growth, and Forecast to 2028

“Global Phthalic Anhydride Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global phthalic anhydride market report has been segmented on the basis of application, end use industry, and region.

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Global Phthalic Anhydride Market: Overview

Phthalic anhydride is a white solid organic compound with acrid odor and reacts slowly in water. Phthalic anhydride is an anhydride of phthalic acid and the chemical formula of phthalic anhydride is C₆H₄(CO)₂O. It is produced by catalytic oxidation of ortho-xylene in presence of a catalyst. The phthalic anhydride is used as a precursor to phthalate esters and as a plasticizer in polyvinyl chloride. The phthalic anhydride is widely in various end use industries such as construction, automotive, chemical, and others.

Global Phthalic Anhydride Market: Dynamics

Rising application of polyvinyl chloride, surface coatings, and unsaturated polyester resins in automotive, construction, and other industries, is expected to be a major factor driving growth of the global phthalic anhydride market over the forecast period. Increasing demand of alkyd resins in solvent-borne coatings, owing to its properties such as corrosion and thermal resistant is a factor anticipated to drive growth of the target market over the forecast period. Moreover, increasing use of phthalic anhydride in various applications such as flame retardants and dyes & pigments is anticipated to augment growth of potential market. In addition, surging demand for phthalic anhydride in plastic, coating, and other industries is expected to support revenue growth of the phthalic anhydride market over the forecast period.

However, toxicity of phthalate compound is a key factor which may restrain revenue growth of the potential market over the forecast period. Moreover, stringent government regulations regarding environmental exposure is another factor anticipated to restrain the growth of phthalic anhydride market over the forecast period.

Increasing demand for phthalate plasticizers and dyes & pigments from plastic and coating industries is expected to create a lucrative opportunity for manufacturers, which in turn is projected to support growth of the potential market over the forecast period.

Global Phthalic Anhydride Market: Segment Analysis

On the basis of application, the plasticizers segment is expected to register highest revenue share contribution in the target market in the net coming years. On the basis of end use industry, the construction segment is anticipated to witness significant revenue share in the target market over the forecast period.

Global Phthalic Anhydride Market: Regional Analysis

The market in Asia Pacific accounts highest revenue share contribution and is projected to witness fastest growth rate in the global phthalic anhydride market. Increasing demand for plasticizers from various end use industries such as construction, automotive, and others in the region is a factor expected to drive revenue growth of the target market over the forecast period. China and India are expected to hold for major revenue share in the target market over the forecast period. Europe phthalic anhydride market is projected to register moderate revenue growth in the target market over the forecast period.  This can be attributed to growing automotive and construction industries coupled with rapid industrialization in the region. The phthalic anhydride market in North America is anticipated to witness moderate growth rate in the target market over the forecast period, followed by Middle East & Africa.

Global Phthalic Anhydride Market Segmentation:

Segmentation on the Basis of Application:

• Phthalate Plasticizers
• Unsaturated Polyester Resins (UPRs)
• Alkyd Resins
• Others (Flame Retardant and Dyes & Pigments)

Segmentation on the Basis of End Use Industry:

• Construction
• Automotive
• Electrical and Electronics
• Others (Pharmaceuticals, Chemical, and Paints and Coatings)

Segmentation on the Basis of Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa