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.
