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Phthalic Anhydride Market Poised for Strong Growth | Projected CAGR of 4.2%
Rise in use of phthalic anhydride in manufacturing of alkyd resin and plasticizers, increase in consumption of alkyd resin in the paints and coatings industry, and surge in construction activities in Asia-Pacific region drive the growth of the global phthalic anhydride market. However, harmful effects of phthalates due to their toxicity and development of bio-based alternative of phthalic anhydride hinder the market. On the contrary, increase in need for polyester polyols and rise in use of glass fiber-reinforced polymers are expected to open lucrative opportunities for the market players in the future.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ : https://www.alliedmarketresearch.com/request-sample/12468
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.
On the basis of end-use industry, the paints & coatings segment is expected to register the highest CAGR of 5.2% during the forecast period. However, the building & construction segment dominated the market in 2020, contributing to more than one-third of the market.
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The global phthalic anhydride market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2020, accounting for more than half of the market. Moreover, the region is anticipated to portray the highest CAGR of 4.5% during the forecast period.
The global phthalic anhydride market includes an in-depth analysis of the prime market players such as Nan Ya Plastics Corporation, BASF SE, Asian Paints Ltd., Exxon Mobil Corporation, I.G. Petrochemicals Ltd., C-Chem Co. Ltd., Mitsubishi Gas Chemicals Co. Ltd., Koppers Inc., Stepan Company, Polynt Spa, UPC Technology Corporation, and Thirumalai Chemicals Ltd.
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