Anthracene Market to Reap Excessive Revenues by 2023

Anthracene is a colorless, polycyclic aromatic hydrocarbon (PAH) and a product of coal tar, a by-product formed by carbonization of coal. It is used in the production of dyes. Anthracene is converted into anthroquinone, which is used in the manufacture of dyes. Anthracene being an organic semiconductor is used as a luminescent material in the detection equipment of high-energy photons, alpha particles, and electrons. Polyvinyltoluene and other plastics are doped with anthracene to create plastic luminescent material, which is ideal for usage in dosimetry radiation therapy. Anthracene is also used in the production of wood preservatives, coating materials, and insecticides.

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Anthracene, like most PAHs, is used to make luminescent material crystals and smoke screens. Subsequently, it is also used in the production of dyes, plastics, and pesticides. These luminescent material crystals are known as scintillators. The function of a scintillator is to produce luminescence when energized by ionizing radiations. Major end-use industries involved in the consumption of anthracene include electronic devices, textiles, coatings, and chemicals. Dyes and coatings was a major end-user industry of the anthracene market, accounting for substantial share in 2014. A similar trend is expected to continue during the forecast period due to rising demand for anthracene in the textile industry for the production of textile dyes. Anthracene, which is used as a luminescent material in scintillators, is expected to grow into a major market owing to its utility in identifying situations such as radiation leaks. Post the radiation leak in Japan, demand for proper radiation leak checking equipment has been rising in nuclear reactor sites across the globe. This is expected to propel the market for anthracene, which is used as a luminescent material in scintillators. Unlike most PAHs, anthracene is not a carcinogen. However, health advisories have issued multiple notifications in support of avoiding direct exposures. The European Union has issued a sanction for ban on all PAHs in the region. This has been the only restraining factor for anthracene in the past few years.

North America is expected to be the strongest market for anthracene, accounting for substantial share of the global demand. Growing research and development activities related to anthracene applications have proved to be a critical market driver in North America. Europe was the second-largest market for anthracene in terms of regional segmentation in the past few years. The market is likely to stagnate in the region, exhibiting sluggish growth during the forecast period due to recent sanctions imposed on PAHs by the European Union. Asia Pacific is anticipated to witness extensive growth in the next few years due to increasing demand for anthracene in end-use industries such as textiles and chemicals. Furthermore, presence of growing economies such as China and India is expected to boost the market due to increased research in electronics in the region. The market in Latin America is expected to witness steady growth due to high demand for anthracene in end-user industries in the region. The market in Middle East and Africa (MEA) is also anticipated to witness growth, especially in growing economies such as South Africa and countries in GCC.

Some of the key companies involved in the anthracene market include Fisher Scientific, Anward, CHEMOS GmbH & Co. KG, Santa Cruz Biotechnology, Inc., Amadis Chemical, Haihang Industry Co., Ltd., Vitas-M Laboratory Ltd, RÜTGERS Group, and Tokyo Chemical Industry Co., Ltd.

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