Phthalic Anhydride Market - Growth, Trends, and Forecast (2019 – 2024)

The market is segmented by Application (Plasticizers, Alkyd Resins, Unsaturated Polyester Resins, and Other Applications), End-user Industry (Automotive, Electrical and Electronics, Paints and Coatings, Plastics, and Other End-user Industries), and Geography.

Market Snapshot

CAGR (new format
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The market for phthalic anhydride is anticipated to register a CAGR of more than 2%, during the forecast period, owing to an increase in the utilization of plasticizers, which is used in the production of polyvinyl chloride (PVC), in the Asia-Pacific region. The increasing demand for glass fiber-reinforced plastics in various industries is also likely to stimulate the phthalic anhydride market, during the forecast period.

  • Increasing construction activities in Asia-Pacific are augmenting the growth of the market.
  • Harmful effects of phthalates, due to its toxicity, and development of bio-based alternative of phthalic anhydride are likely to hinder the market growth.
  • Increasing use of glass fiber-reinforced polymers and capacity expansion for phthalic anhydride derivatives are projected to act as an opportunity for the market, in the future.

Scope of the Report

The phthalic anhydride market report includes:

Application
Plasticizers
Alkyd Resins
Unsaturated Polyester Resins
Other Applications
End-user Industry
Automotive
Electrical and Electronics
Paints and Coatings
Plastics
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
Russia
France
Spain
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Alkyd Resin to Emerge as One of the Fastest Growing Applications

  • By application, alkyd resins attribute to approximately 20% of the global phthalic anhydride market, by application, in 2018. Phthalic anhydride has been considered as a major reference resin, used for the manufacturing of alkyd resin-based paints and coatings.
  • Alkyd resins are produced by heating polyhydric alcohols with diacids or their anhydrides. The alkyd coatings are the most highly consumed coatings across the world. They can be available as short-oil, medium-oil, long-oil, and ultra-long alkyd resins. Long-oil alkyd resins have good wood penetration properties. Thus, they are suitable for wood stains.
  • Moreover, these resins are widely used for the production of high-performance materials, like solvent-based architectural coatings.
  • Paints and coatings, with excellent anti-corrosive properties, can be prepared by long-oil alkyd resins that are modified with maleic anhydride and phthalic anhydride.
  • Factors, such as growing consumption of alkyd resins in developing economies, due to the rising paints and coatings industry, are, in turn, increasing the demand for the phthalic anhydride market.
segmentation (ne

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Asia-Pacific Region to Dominate the Market

  • China is the largest consumer of phthalic anhydride in the Asia-Pacific region, and the demand is expected to grow further, in the coming years, due to several factors.
  • With decreasing prices of naphthalene and low operating costs involved in the production, the capacity of phthalic anhydride is also increasing in the country.
  • New phthalic anhydride producing facilities were setup by manufacturers, such as Tangshan Risun Chemical and Handan Xinbao Coal Chemical, in China, in 2018.
  • Additionally, China is the largest consumer of plastics in the global scenario. The demand for plastics, like PVC, is expected to grow at a rapid rate in the country, in the near future, owing to the expanding packaging and manufacturing sectors.
  • The Chinese manufacturing industry is expected to grow, on an average, by more than 7-8% every year, with transportation and heavy equipment manufacturing being the major growth segments.
  • Owing to these factors, the demand for plasticizers in China is expected to grow at a significant rate in the coming years, which, in turn, is expected to boost the demand for phthalic anhydride used in plasticizers.
  • Hence, the aforementioned factors are expected to drive the consumption of phthalic anhydride for various applications, during the forecast period.
regional (new fo

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Competitive Landscape

The phthalic anhydride market is fragmented, with the presence of large number of global and local players in the market. The major players in the phthalic anhydride market are BASF SE, ExxonMobil Corporation, LANXESS, I G Petrochemicals Limited, Aekyung Petrochemical Co. Ltd, and Mitsubishi Gas Chemical Company, among others.

Major Players

  1. Aekyung Petrochemical Co. Ltd
  2. Exxon Mobil Corporation
  3. I G Petrochemicals Limited
  4. LANXESS

* Complete list of players covered available in the table of contents below

market concentra

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Construction Activities in Asia-Pacific

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Harmful Effects of Phthalates Due to Its Toxicity

      2. 4.2.2 Development of Bio-based Alternative of Phthalic Anhydride

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Technological Snapshot

    6. 4.6 Import and Export Trends

    7. 4.7 Price Trends

    8. 4.8 Supply Scenario

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Plasticizers

      2. 5.1.2 Alkyd Resins

      3. 5.1.3 Unsaturated Polyester Resins

      4. 5.1.4 Other Applications

    2. 5.2 End-user Industry

      1. 5.2.1 Automotive

      2. 5.2.2 Electrical and Electronics

      3. 5.2.3 Paints and Coatings

      4. 5.2.4 Plastics

      5. 5.2.5 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 Russia

        5. 5.3.3.5 France

        6. 5.3.3.6 Spain

        7. 5.3.3.7 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Aekyung Petrochemical Co. Ltd

      2. 6.4.2 BASF SE

      3. 6.4.3 Exxon Mobil Corporation

      4. 6.4.4 I G Petrochemicals Limited

      5. 6.4.5 Koppers Inc.

      6. 6.4.6 LANXESS

      7. 6.4.7 MITSUBISHI GAS CHEMICAL COMPANY INC.

      8. 6.4.8 NAN YA PLASTICS CORPORATION

      9. 6.4.9 Nippon Steel & Sumikin Chemical Co. Ltd

      10. 6.4.10 Polynt SpA

      11. 6.4.11 Stepan Company

      12. 6.4.12 Thirumalai Chemicals Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Use of Glass Fiber-reinforced Polymers

    2. 7.2 Capacity Expansion for Phthalic Anhydride Derivatives

**Subject to Availability

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