Phthalic Anhydride Market – Segmentation Analysis and Forecast by Technavio

October 29, 2017

LONDON–(BUSINESS WIRE)–#PhthalicAnhydride–According to the latest market study released by Technavio,
the global phthalic anhydride market is expected to grow at a CAGR of
close to 6% during the forecast period.

This research report titled ‘Global
Phthalic Anhydride Market 2017-2021’ provides an in-depth analysis
of the market in terms of revenue and emerging market trends. This
report also includes an up to date analysis and forecasts for various
market segments and all geographical regions.

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The market research analysis categorizes the global phthalic anhydride
market into the following type of applications:

Plasticizers
UPR
Alkyd resins
Others

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The top three revenue-generating segments are discussed below:

Global PA market for plasticizers

The growing demand for dioctyl phthalate, the main product of phthalate
plasticizer that is used in the production of PVC, is fueling the growth
of this market segment. The phthalic plasticizers segment holds the
largest share of the PA market in terms of application. In 2016, the
global PA market for plasticizers accounted for around 53% of the total
market share.

The demand for PA is dependent on the growth of PVC, which is sensitive
to general economic conditions as it is consumed mainly by the
construction and automobile industries. In addition, concerns related to
the impact of phthalates on health and environment could hinder the
growth of the PA market in the forecast period.

Global PA market for UPR

The UPR segment in the global phthalic
anhydride market occupied about 20% of the total market share during
2016. UPR is used in fiber-reinforced plastics (FRP), marbles, granites,
artificial stones, and putties. The primary end-user industries of UPR
are marine, construction, transportation, and recreation, and they are
sensitive to changes in economic conditions. The growth of the UPR
segment is driven by the demand for PA from the major end-user segments.

According to Ajay Adhikari, a lead analyst at Technavio for specialty
chemicals research, “UPRs have been used in a wide range of
applications making them a thermosetting system of utmost importance.
These resins are compounded with different fillers and reinforcements
and are treated by free radical initiators to yield thermoset particles
having a broad range of chemical and mechanical properties depending
upon the selection of diacids, cross-linking agents, diols, initiators,
and other additives. This versatile nature of the final thermoset
product, along with comparatively lower cost, has revived the interest
in these resins that are used as a chief matrix material in a wide range
of applications.”

Global PA market for alkyd resins

In 2016, the alkyd resins segment in the global phthalic anhydride
market accounted for around 16% of the total market share. PA-based
alkyd resins are used in solvent-based coatings for machinery,
furniture, architectural, and fixture applications. The use of the level
of volatile organic compounds (VOCs) in surface coatings will impact the
growth of the alkyd resins segment. The preference of consumers to
water-based and powder coating technologies and a shift in preference
toward decorative paints that are based on vinyl acetate and acrylics
will decline the growth of this market segment.

The prominent vendors highlighted by Technavio’s market research
analysts in this report are:

AEKYUNG PETROCHEMICAL
BASF
Exxon Mobil
I G Petrochemicals
MITSUBISHI GAS CHEMICAL

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