Market Size of Phthalic Anhydride Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 4.39 Million tons |
| Market Volume (2029) | 4.95 Million tons |
| CAGR (2024 - 2029) | 2.46 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Phthalic Anhydride Market Analysis
The Phthalic Anhydride Market size is estimated at 4.39 Million tons in 2024, and is expected to reach 4.95 Million tons by 2029, growing at a CAGR of 2.46% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, nationwide lockdown around the globe, disruption in manufacturing activities and supply chains, and production halts negatively impacted the market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory during the forecast period.
- In the medium term, the increasing construction activities in Asia-Pacific are likely to stimulate the phthalic anhydride market in the forecast period.
- On the other hand, the harmful effects of phthalates due to their toxicity and the development of bio-based alternatives to 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.
