Authored By: Sarah
11 Jul 2024

 Phthalic Anhydride Market to grow by USD 908.5 million between 2024-2028

According to a research report “ Phthalic Anhydride Market” by Application (Plasticizers, UPR, Alkyd resins, Others) Type (O-xylene catalytic oxidation, Naphthalene catalytic oxidation) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 908.5 million at a CAGR of almost 3.59% during the forecast period. Phthalic anhydride plays a pivotal role in the production of PVC, a key material in the construction sector. With the expanding demand for PVC-based construction components, such as pipes, fittings, and flooring, the requirement for phthalic anhydride as a primary raw material increases. Additionally, phthalic anhydride is essential in the manufacture of plasticizers, including DOP and DINP, which enhance the flexibility, durability, and workability of various construction materials. The burgeoning construction industry, driven by urbanization, population growth, and infrastructure development projects, fuels the demand for both PVC and phthalic anhydride..

Browse market data tables, figures, and in-depth TOC on “Phthalic Anhydride Market” by Application (Plasticizers, UPR, Alkyd resins, Others) Type (O-xylene catalytic oxidation, Naphthalene catalytic oxidation) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028.

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By Application, the Plasticizers segment is projected to dominate the market size in 2024.

In the realm of chemical manufacturing, the o-xylene catalytic oxidation process holds significant importance as a key production step for phthalic anhydride. This vital intermediate chemical is a primary precursor in numerous industries, with applications spanning plasticizers, coatings, dyes, and resins. The global phthalic anhydride market is poised for substantial expansion in the o-xylene catalytic oxidation segment, driven by the burgeoning demand for plasticizers in sectors such as automotive, construction, packaging, and textiles.

By Type, O-xylene catalytic oxidation  segment is expected to hold the largest market size for the year 2024.

In the global phthalic anhydride market, the plasticizers segment is projected to lead, given its role as a crucial raw material in plasticizer production. Plasticizers, essential additives, enhance plastic's flexibility and longevity. They find extensive application in various plastic products such as PVC, flooring, furniture, and toys. The construction and automotive industries' expansion is anticipated to fuel the demand for plasticizers, thereby driving market growth during the forecast period.

APAC is forecasted to hold the largest market size by region in 2024.

The Phthalic Anhydride market witnesses robust growth, driven by its extensive application in various industries such as polyvinyl chloride (PVC), phthalate esters, and resins. Demand for Phthalic Anhydride is fueled by the increasing production of PVC, which is a primary end-use sector. Additionally, the market is bolstered by the rising demand for phthalate esters in applications like plasticizers and solvents. Overall, the Phthalic Anhydride market is poised for significant expansion due to its indispensable role in numerous industries.

The Phthalic Anhydride Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • AGROFERT AS
  • Anhui Tongua International Trade Group Co. Ltd.
  • Asian Paints Ltd.
  • BASF SE
  • Compania Espanola de Petroleos SA
  • Exxon Mobil Corp.
  • IG Petrochemicals Ltd.
  • Koppers Holdings Inc.
  • Lanxess AG
  • Mitsubishi Corp.
  • Nan Ya Plastic Corp.
  • PETRONAS Chemicals Group Berhad
  • Polynt Spa
  • Proviron Industries NV
  • Shandong Hongxin Chemical Co. Ltd.
  • Specialty Polymers Inc.
  • Stepan Co.
  • Thirumalai Chemicals Ltd.
  • Tokyo Chemical Industry Co. Ltd.
  • UPC Technology Corp.
.

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Research Analysis Overview

Phthalic Anhydride is a crucial component in the production of various resins and plasticizers, including Glyptic resins and Polyester resins. It functions as a monomer in the synthesis of unsaturated polyester resins, which are widely used in the manufacturing of Polyvinyl Chloride (PVC) products, such as pipes, cables, and films. Phthalic Anhydride is also employed in the production of plasticizers, particularly for PVC, to enhance their flexibility. In the agricultural industry, Phthalic Anhydride is used as an intermediate in the production of certain herbicides and fungicides. Anhydrides, including Phthalic Anhydride, are also used in the production of diacids, polyhydric alcohols, and other chemicals. Despite its extensive applications, Phthalic Anhydride has raised concerns regarding its toxicity. Exposure to Phthalic Anhydride can lead to respiratory issues and skin irritation. Therefore, safety measures must be implemented during its production and handling. Phthalic Anhydride is also used in the production of wood stains and other coatings, including paints and coatings for electric vehicles. These applications contribute significantly to the overall demand for Phthalic Anhydride in various industries.

Market Research Overview

The Phthalic Anhydride market plays a significant role in the production of various raw materials and products within the industrial sector. This organic compound, derived from the oxidation of phthalic acid, is a crucial building block in the manufacture of phthalates and phthalate esters, such as orthophthalic acid, phthalylsulfathiazole, and benzoic acid. These compounds are widely used in the production of insulation varnishes, maritime coatings, heat resistant paints, glyptic resins, and polyester resins. Phthalic anhydride is also used as a monomer in the synthesis of unsaturated polyester resins and alkyd resins. In the plastic industry, it serves as a plasticizer in the production of PVC (Polyvinyl Chloride) and other polyvinyl chloride products. The agricultural industry utilizes phthalic anhydride in the manufacture of phthalic anhydride and maleic anhydride, which are used as intermediates in the production of wood stains and other anhydrides. Despite its widespread use, concerns regarding the toxicity of phthalates have led to regulations limiting their use in certain applications, such as electric vehicles and paints and coatings.

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Website: www.technavio.com/

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