Key Players: IG Petrochemicals (India), BASF (Germany), Shandong Hongxin (China), ExxonMobil Chemical (U.S.), Nan-Ya Plastics (Taiwan), Aekyung Petrochemical (Japan), Polynt SPA (Italy) Koppers Industries (U.S.), and others.
(PRWEB) June 03, 2014
The report "Phthalic Anhydride and Derivatives (Plasticizers, Unsaturated Polyester Resins, and Alkyd Resins) Market by Application & Geography – Trends & Forecast to 2018" defines and segments phthalic anhydride market with analysis and forecasting of market volume and value. The report also estimates the demand and value of the derivatives separately. The market of phthalic anhydride is projected to grow from an estimated $6,130.55 million in 2013 to $8,415.89 million by 2018, with a CAGR of 5.24% from 2013 to 2018.
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The most important function of phthalic anhydride is to address the problem of moldability of PVC, curing of coatings, and surface protection. It finds its application in various industries that include dyes & pigments, chemical intermediates, flame retardants, herbicides, and insecticides apart from its use in traditional industries such as plastics, construction, automobile, and paints & coatings. However, due to environmental regulations in European and North American regions, the focus of the end-use applicators is to reduce the leaching of phthalic anhydride into the atmosphere or shift to an alternate feedstock. Although the highest growth is expected in alkyd resins application of phthalic anhydride, plasticizers will be by far its largest application.
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According to the estimates, the Asia-Pacific region leads the market for phthalic anhydride with 64.38% share by volume at the global level in 2012, followed by Europe (14.94%), North America (8.80%), and Rest of the World (11.88%). Around 56.00% of phthalic anhydride has been estimated to be consumed for phthalate plasticizers in 2012. For unsaturated polyester resins and alkyd resins, the share ranged from 14.00% to 18.00%.
The growth of phthalic anhydride market has been studied through in-depth analysis of important factors that drive the market, such as availability of technology and growing economy of the Asia-Pacific region with opportunities in improving the chemistry of end-use products and their increasing demand. However, the toxic nature of phthalates and sourcing of raw materials are proving to be the important restraining factors for the market.
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