Global Phthalic Anhydride Market Propelled at 5.8% CAGR by Increasing Demand From APAC: Transparency Market Research
By Business Wire News
By Business Wire News
Transparency Market Research announces the release of a new research study, titled “Phthalic Anhydride Market for Phthalate Plasticizers, Unsaturated Polyester Resins (UPRs), Alkyd Resins and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019”. According to the report, the global market for phthalic anhydride stands to grow from a value of US$6.46 billion in 2012 to US$9.58 billion in 2019, at CAGR of 5.8% from 2013 to 2019.
The global market for phthalic anhydride is fueled by rising demand for unsaturated polyester resins and plasticizers for the manufacturing of fiberglass-reinforced plastics and polyvinyl chloride, respectively, as well as growing demand for phthalic anhydride from the paints and coatings industry. This market is, however, restricted by the development of non-phthalate plasticizers and strict environmental regulations regarding the use of alkyd resins and phthalates.
Phthalic anhydride finds application in unsaturated polyester resins, phthalate plasticizers, alkyd resins, and others. The demand for phthalate plasticizers led the overall phthalic anhydride market in 2012, with the segment accounting for 56.5% of total consumption. The growth of this segment can be attributed to surging demand for the same from Asia Pacific. Unsaturated polyester resins formed the second largest segment, with an 18.1% share of global consumption in 2012.
Geographically, Asia Pacific dominates the worldwide market thanks to increased demand from emerging economies such as Brazil, China, and India.
The notable players profiled and analyzed in the phthalic anhydride market report are I G Petrochemicals Ltd., Proviron Industries NV, Thirumalai Chemicals Ltd., Aekyung Petrochemical Co. Ltd., UPC Technology Corporation, Stepan Company, Nippon Steel & Sumitomo Metal Corporation, Exxon Mobil Corporation, PolyntSpA, Koppers Inc., BASF SE, and Mitsubishi Gas Chemical Co. Inc.
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Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.