Phthalic Anhydride market to grow by USD 1.20 billion from 2022 to 2027

NEW YORK , Aug. 23, 2023 /PRNewswire/ -- The phthalic anhydride market is to grow by USD 1,200.75 million at a CAGR of 4.79% from 2022 to 2027, according to the latest research report from Technavio. Discover Specialty Chemicals industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!

The phthalic anhydride market covers the following areas:

Phthalic Anhydride Market Sizing

Phthalic Anhydride Market Forecast

Phthalic Anhydride Market Analysis

Company Landscape

The phthalic anhydride market is fragmented, and companies are deploying organic and inorganic growth strategies to compete in the market.

Company Offering

Specpoly- The company offers phthalic anhydride.

BASF SE - The company offers phthalic anhydride processed and o Xylene or naphthalene oxidation to phthalic anhydride catalysts which results in products and services for individual customers.

Compania Espanola de Petroleos SA - The company offers phthalic anhydride in the form of plasticizers for vinyl resins. For more insights, buy report!

For the market's company landscape highlights with a comprehensive list of companies and their offerings - View Sample in minutes

Key Market Segmentation

The market is segmented by application (plasticizers, UPR, alkyd resins, and others), and type (o-xylene catalytic oxidation and naphthalene catalytic oxidation)

The market share growth by the plasticizers segment will be significant during the forecast period. Phthalic anhydride is the main raw material used in the production of plasticizers. Plasticizers are additives used to make plastics more flexible and durable. They are used in a wide variety of plastic products. Considering the increase in demand for plastic products, a strong growth in demand for plasticizers is expected during the forecast period.

View Sample Report in minutes for more highlights into the market segments.

Regional Market Outlook

By geography, the market is segmented by APAC, North America, Europe, South America, and the Middle East and Africa.

APAC is estimated to contribute 39% to the growth of the global market during the forecast period. APAC countries, especially China and India, have experienced rapid industrialization and urbanization in the past few years. This has led to an increase in demand for phthalic anhydrides in various sectors including construction, automotive, consumer goods, and packaging. With the development of infrastructure and commercial and residential construction projects, as well as investment in smart cities, the construction sector has witnessed significant growth in the region. Hence, such factors are expected to drive market growth in this region during the forecast period.

For more key highlights on the regional market share of most of the above-mentioned countries.- View Sample Report

Market Dynamics

Key Drivers

The growth of the construction industry is a key factor driving market growth.

Major Trends

Growing demand for green and sustainable resins is a major trend in the market. Environmentally friendly development resins are strongly preferred in developed economies like those in Canada, the US, and Germany. Additionally, growing in popularity are underdeveloped nations. Additionally, in the US the Leadership in Engineering and Environmental Design program promotes the use of environmentally friendly building techniques and materials with fewer synthetic chemicals, opening market prospects for substitute resins. Hence, a shift towards eco-friendly resins is expected to drive the growth of the phthalic anhydride market during the forecast period.

Significant Challenges

Health hazards due to exposure to phthalic anhydride are significant challenges restricting market growth.

Drivers, Trends & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!

Companies Mentioned

AGROFERT AS

Anhui Tongua International Trade Group Co. Ltd.

Asian Paints Ltd.

BASF SE

Compania Espanola de Petroleos SA

Exxon Mobil Corp.

IG Petrochemicals Ltd.

Koppers Holdings Inc.

Lanxess AG

Mitsubishi Corp

Nan Ya Plastic Corp.

PETRONAS Chemicals Group Berhad

Polynt Spa

Proviron Industries NV

Shandong Hongxin Chemical Co. Ltd.

Specialty Polymers Inc.

Stepan Co.

Thirumalai Chemicals Ltd.

Tokyo Chemical Industry Co. Ltd.

UPC Technology Corp.

Gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Related Reports:The hot melt adhesives market is estimated to grow at a CAGR of 7.28% between 2022 and 2027. The market size is forecast to increase by USD 4,396.66 million. Furthermore, this report extensively covers market segmentation by product (ethylene-vinyl acetate (EVA), rubber, polyolefin, polyurethane, and others), application (packaging, nonwoven hygiene products, furniture, and woodworking, automobile, and footwear, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). The high application in sanitary materials is a key factor driving market growth during the forecast period.

The fluorapatite market is estimated to grow at a CAGR of 3.85% between 2022 and 2027. The market size is forecast to increase by USD 151.05 million. Furthermore, this report extensively covers market segmentation by type (pharmaceutical grade and industrial grade), application (dental care, fertilizers, chemicals, and pharmaceutical), and geography (North America, APAC, Europe, South America, and the Middle East and Africa). The growing demand for phosphate fertilizers is a key factor driving market growth during the forecast period.

Table of Contents

Executive Summary

Market Landscape

Market Sizing

Historic Market Size

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

About USTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/phthalic-anhydride-market-to-grow-by-usd-1-20-billion-from-2022-to-2027--the-growth-of-the-construction-industry-to-boost-market-growth---technavio-301907511.html

SOURCE Technavio