Phthalic Anhydride Market Growth | Size, Business Opportunities, Competitive Landscape, Revenue, 2030

The global phthalic anhydride market, as reported by Allied Market Research, attained a valuation of $3.7 billion in 2020 and is anticipated to reach $5.6 billion by 2030, exhibiting a CAGR of 4.2% from 2021 to 2030. This report provides an extensive analysis of market dynamics, trends, and growth opportunities.

Phthalic Anhydride: Properties and Applications:
Phthalic anhydride, a white organic crystalline compound, is extensively utilized in various industries for the manufacturing of alkyd resins, plasticizers, and paints. It acts as a vital intermediate in chemical processes, especially in the production of plastics from vinyl chloride.

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Market Drivers and Challenges:
Growth drivers include increased usage in alkyd resin production, rising demand in paints and coatings, and surge in construction activities, particularly in the Asia-Pacific region.
Challenges include concerns over the harmful effects of phthalates and the development of bio-based alternatives, impacting market growth.

Key Benefits for Stakeholders:
In-depth analysis of major industry participants.
Porter's five forces analysis for strategic insights.
Revenue contribution mapping of major countries.
Detailed market forecast for 2021-2030.
Comprehensive coverage of market trends and future scenarios.

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Segment Analysis:
Plasticizers segment dominated the market in 2020, while the alkyd resins segment is projected to witness the highest CAGR during the forecast period.
Among end-use industries, paints & coatings are expected to register the highest CAGR, with the building & construction segment leading the market in 2020.

Regional Insights:
Asia-Pacific held the largest market share in 2020 and is expected to maintain dominance, with the highest CAGR anticipated during the forecast period.
Other regions analyzed include North America, Europe, and LAMEA.

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Key Players and Strategies:
Major market players include Nan Ya Plastics Corporation, BASF SE, Exxon Mobil Corporation, and others. These players are employing strategies such as partnerships and product development to strengthen their market position.

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