Market Overview, Global Phthalic Anhydride Market is Projected to Register a CAGR of 4.2% to Reach USD 7,213.7 Million By 2025. , Phthalic anhydride is the commercial form of phthalic acid. It is a white, organic, crystalline compound and is formed through the oxidation of naphthalene or o-xylene. It is used to manufacture artificial resins and is a chemical median for the production of polyvinyl chloride (PVC)., The Global Phthalic Anhydride Market is primarily driven by its use as a plasticizer in PVC production, further used in building & construction, automotive, electrical & electronics, and other industries. The use of phthalic anhydride in PVC production enhances the flexibility of PVC. The demand for PVC is increasing on account of its properties such as strength, moisture & abrasion resistance, non-flammability, dimensional stability, and low cost. This makes PVC an ideal choice for building & construction applications such as wiring and cables, flooring, and plumbing. Rapid industrialization and urbanization across the globe is driving the demand for PVC, which in turn, is driving the demand for phthalic anhydride as a plasticizer. , Another key driver of the global phthalic anhydride market is the use of unsaturated polyester resin as a matrix for fiber reinforced plastics (FRPs). FRPs are used in naval construction, offshore, water piping, building & construction, shipbuilding, and automotive applications., The global market is also driven by its use in alkyd resin production, which is an important ingredient in many synthetic paints, varnishes, and enamels due to its versatility and low cost., Global Phthalic Anhydride Market Revenue, by End-use Industry, 2018 (USD Million) , Sources: MRFR Analysis, Segmentation, The Global Phthalic Anhydride Market has been segmented on the basis of Derivative, Application, End-Use Industry, and Region., On the basis of derivative, the global market is classified into phthalate esters, phthalimide, phthalein, phenolphthalein, and other

Market Overview

Global Phthalic Anhydride Market is Projected to Register a CAGR of 4.2% to Reach USD 7,213.7 Million By 2025.

Phthalic anhydride is the commercial form of phthalic acid. It is a white, organic, crystalline compound and is formed through the oxidation of naphthalene or o-xylene. It is used to manufacture artificial resins and is a chemical median for the production of polyvinyl chloride (PVC).

The Global Phthalic Anhydride Market is primarily driven by its use as a plasticizer in PVC production, further used in building & construction, automotive, electrical & electronics, and other industries. The use of phthalic anhydride in PVC production enhances the flexibility of PVC. The demand for PVC is increasing on account of its properties such as strength, moisture & abrasion resistance, non-flammability, dimensional stability, and low cost. This makes PVC an ideal choice for building & construction applications such as wiring and cables, flooring, and plumbing. Rapid industrialization and urbanization across the globe is driving the demand for PVC, which in turn, is driving the demand for phthalic anhydride as a plasticizer.

Another key driver of the global phthalic anhydride market is the use of unsaturated polyester resin as a matrix for fiber reinforced plastics (FRPs). FRPs are used in naval construction, offshore, water piping, building & construction, shipbuilding, and automotive applications.

The global market is also driven by its use in alkyd resin production, which is an important ingredient in many synthetic paints, varnishes, and enamels due to its versatility and low cost.

Global Phthalic Anhydride Market Revenue, by End-use Industry, 2018 (USD Million)

Sources: MRFR Analysis

Segmentation

The Global Phthalic Anhydride Market has been segmented on the basis of Derivative, Application, End-Use Industry, and Region.

On the basis of derivative, the global market is classified into phthalate esters, phthalimide, phthalein, phenolphthalein, and others. The phthalate esters segment is the dominating segment with a value of USD 3,909 million in 2018. This is because they are extensively used as plasticizers in PVC production.

Based on Application, the market has been segmented into plasticizers, unsaturated polyester resin, alkyd resin, flame retardants, dyes and pigments, and others. The plasticizers segment held the largest market share of around 50% in 2018.

By End-Use Industry, the market is categorized into building & construction, automotive, electrical & electronics, healthcare, agriculture, and others. The building & construction segment is projected to exhibit a CAGR of 4.6% during the forecast period.

Global Phthalic Anhydride Market Share, by Region, 2018 (%)

Sources: MRFR Analysis

Regional Analysis

The Global Phthalic Anhydride Market has been studied across five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. The market in Asia-Pacific held the largest market share of over 60% in 2018, with a market value of around USD 3,439 Million. The high growth in this region can be attributed to the rapid industrialization and urbanization in growth-centric countries such as India, South Korea, and Malaysia. For instance, the implementation of the ‘Make in India’ initiative with a target of Net Zero Imports by 2020 is expected to boost the manufacturing sector. The European market is likely to witness significant growth on account of the high demand for PVC in automobile manufacturing.

Key Players

Key Players operating in the Global Phthalic Anhydride Market include BASF SE (Germany), SHANDONG HONGXIN CHEMICAL CO. LTD (China), AEKYUNG PETROCHEMICAL Co., Ltd (South Korea), C-Chem Co. Ltd (Japan), NAN YA PLASTICS CORPORATION (Taiwan), IG Petrochemicals Ltd (India), Exxon Mobil Corporation (US), Mitsubishi Gas Chemical Company, Inc. (Japan), Koppers Inc. (US), and Thirumalai Chemicals Ltd (India).

Companies such as BASF SE, Mitsubishi Gas Chemical Company, Inc., NAN YA PLASTICS CORPORATION, Exxon Mobil Corporation, and IG Petrochemicals Ltd. are the dominant players in the market owing to their global reach and large production capacities.

Capacity expansion is the key strategic initiative followed by the players with an aggressive approach. For instance, in August 2018, IG Petrochemicals aimed to double its turnover by 2021 after completion of its brownfield expansion, adding another 53,000 MT per annum phthalic anhydride production unit.

Market Segmentation

Global Phthalic Anhydride Market, by Derivative



Phthalate Ester



Phthalein (pH)



Phthalimide



Others



Global Phthalic Anhydride Market, by Application



Plasticizer



Unsaturated Polyester Resin



Alkyd Resin



Flame Retardant



Dyes & Pigments



Others



Global Phthalic Anhydride Market, by End-Use Industry



Building & Construction



Automotive



Electrical & Electronics



Healthcare



Agriculture



Others



Global Phthalic Anhydride Market, by Region



North America



US

Canada











Europe



Germany

UK

Russia

France

Spain

Italy

Poland

Belgium

Netherlands

Rest of Europe











Asia-Pacific



China

Japan

India

Australia & New Zealand

Indonesia

South Korea

Thailand

Malaysia

Rest of Asia-Pacific











Latin America



Mexico

Brazil

Argentina

Rest of Latin America











Middle East & Africa



Turkey

GCC

Egypt

South Africa

Rest of Middle East









Available Additional Customizations



Customer Analysis of Major Consumers



Additional Company Profiles



Intended Audience



Phthalic Anhydride Manufacturers



Suppliers and Traders of Phthalic Anhydride and Related Products



Government, Associations, and Industrial Associations



Investors and Trade Experts



Consulting in Chemical Experts



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