Phthalic Anhydride Market Insights:
Phthalic Anhydride Market was valued at USD 3.92 Billion in 2021 and is anticipated to grow at a CAGR of 4.69% and is expected to reach USD 5.92 Billion by 2030.
The increased adoption of Phthalic Anhydride in the Petrochemicals industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Phthalic Anhydride also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Phthalic Anhydride in many sectors also boosts the market growth during the forecast period.
Phthalic anhydride is an organic compound with the chemical formula C6H4(CO)2O. It is a white, crystalline solid that is widely used as an intermediate in the production of a variety of industrial chemicals, including plasticizers, alkyd resins, and polyester resins. It is also used as a reagent in organic synthesis.
Phthalic Anhydride Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Process (O-Xylene Catalytic Oxidation, Naphthalene Catalytic Oxidation), By Application (Plasticizers, Alkyd Resins, Unsaturated Polyester Resins, Others), By End Use (Paints & Coatings, Automotive, Electrical & Electronics, Building & Construction, Agriculture, Marine, Others), and companies (Mitsubishi Gas Chemical Company, C-Chem Co. Ltd, Thirumalai Chemicals Ltd, Koppers Inc., Basf Se, Shandong Hongxin Chemical Co. Ltd ,IG Petrochemicals Ltd, Exxon Mobil Corporation, Nan Ya Plastics Corporation, Aekyung Petrochemical Co.Ltd), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 4.69%, over the forecast period of 2022–2030.
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||5.92 Billion|
|By Process||O-Xylene Catalytic Oxidation, Naphthalene Catalytic Oxidation|
|By Application||Plasticizers, Alkyd Resins, Unsaturated Polyester Resins, Others|
|By End-Use||Paints & Coatings, Automotive, Electrical & Electronics, Building & Construction, Agriculture, Marine, Others|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||Mitsubishi Gas Chemical Company, C-Chem Co. Ltd, Thirumalai Chemicals Ltd, Koppers Inc., Basf Se, Shandong Hongxin Chemical Co. Ltd ,IG Petrochemicals Ltd, Exxon Mobil Corporation, Nan Ya Plastics Corporation, Aekyung Petrochemical Co.Ltd|
The COVID-19 pandemic has had a substantial negative influence on the Phthalic Anhydride market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Mitsubishi Gas Chemical Company, C-Chem Co. Ltd, Thirumalai Chemicals Ltd, Koppers Inc., Basf Se, Shandong Hongxin Chemical Co. Ltd ,IG Petrochemicals Ltd, Exxon Mobil Corporation, Nan Ya Plastics Corporation, Aekyung Petrochemical Co.Ltd
Market Segment Analysis:
- O-Xylene Catalytic Oxidation
- Naphthalene Catalytic Oxidation
- Alkyd Resins
- Unsaturated Polyester Resins
- Paints & Coatings
- Electrical & Electronics
- Building & Construction
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Phthalic Anhydride industries in the region.
Key Phthalic Anhydride Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Phthalic Anhydride Market segments.
– Largest Market Share Held by Industry to Industry for Phthalic Anhydride
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Phthalic Anhydride Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
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