What is the future of Phthalic Anhydride Market? Know Covid Impact on Size, Share & Forecasts

What is the future of Phthalic Anhydride Market? Know Covid Impact on Size, Share & Forecasts

June 26, 2020

The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Phthalic Anhydride Market.

It was estimated prior to this unanticipated outbreak that the Phthalic Anhydride Market was expected to grow at a CAGR of 5.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.

 

For a more detailed breakdown of the COVID-19 impact on the Phthalic Anhydride Market, request a free sample of the report here:

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Phthalic Anhydride is a crystalline compound that is prepared by oxidization of naphthalene. The compound can act as an intermediate in the process of manufacturing of resins, dyes, and plastics. This crystalline compound is mainly colorless with a needle like structure but at times can appear to be a lustrous white solid. It has a mild odor and is toxic in nature.

Phthalic Anhydride is majorly used in polyester resins production. Also, it is used in alkyd resins production that is used in urethane polyester polyols, insect repellents, lacquers, and paints. Rubber scorch is another area where the compound is used. 

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

 

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Based on the derivates type, the market is segmented as plasticizers, unsaturated polyester resins, and alkyd resins. Plasticizers are the significant application parts for phthalic anhydride, tracked by unsaturated polyester resins and alkyd resins. The growing demand for molding of PVC articles is stimulating its demand majorly in the Asia-Pacific and ROW regions. The increasing application of UPR in reinforced laminates and surface coatings is driving its demand and that for alkyd resins, is primarily propelled by the progress in demand for solvent-borne coatings. However, solvent-borne coatings are exceedingly being substituted by water-borne and powder coatings in their scope of application.

In terms of regions, Asia-Pacific, South America, and the Middle East signify an increasing demand for PA, while in North America and Europe, the development for its demand is estimated to be relatively low. The prime reason is the toxic profile of phthalic anhydride which may reach into the environment by inhalation or leaching. While, noxiousness of phthalic anhydride is the chief reason for limitations on its use, it should be made obvious that not all phthalic anhydride-based products are detrimental or toxic at normal level.

 

Key Players:

Some of the major players in the phthalic anhydride market are Aekyung Petrochemical Co. Ltd., Asian Paints Ltd., BASF S.E., C-Chem Co. Ltd., Exxon Mobil Corporation, I.G. Petrochemicals Ltd., Koppers Inc., Mitsubishi Gas Chemicals Co. Ltd., Nan Ya Plastics Corp., and Polynt Spa.

 

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

 

The Phthalic Anhydride Market analysis report discusses the following heads in great detail:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • COVID-19 Impact Assessment
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
  • Market trend and forecast analysis
  • Market segment trend and forecast
  • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends
  • Strategic growth opportunities for the existing and new players
  • Key success factors 

 

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Author : Emily

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