Albany, NY -- (ReleaseWire) -- 05/27/2014 -- Phthalic Anhydride Market was valued at USD 6.46 billion in 2012 and is expected to reach USD 9.58 billion by 2019, growing at a CAGR of 5.8% from 2013 to 2019. In terms of volumes, global consumption was over 4.3 million tons in 2012 and is expected to grow at a CAGR of 3.6% from 2013 to 2019.
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Phthalic anhydride (PA) is anhydride of phthalic acid and has a vast range of applications. It is used as a chemical intermediate in the manufacturing of variety of plasticizers and resins. Phthalate plasticizers market is the largest application area for PA followed by market for unsaturated polyester resins (UPR). However, alkyd resins, pigments and dyes are fast growing applications of PA and are expected to gain a significant market share over the next six years. Phthalic anhydride is mainly used in the manufacturing of phthalate plasticizers. The strong global demand for phthalate plasticizers is the major driver for the growing consumption of phthalic anhydride. Phthalic anhydride is expected to grow at a CAGR of 3.6% from 2013 to 2019.
The phthalate plasticizers application dominated the global market and accounted for 56.5% of the overall demand in 2012. Growing demand from the phthalate plasticizers market and strong demand from Asia Pacific were the major growth drivers for PA. Another important market for PA is unsaturated polyester resins, which accounted for 18.1% share of the total PA volume consumed in 2012. The growing demand of phthalate plasticizers in the production of polyvinyl chloride (PVC) and unsaturated polyester resins in the manufacturing of fiberglass-reinforced plastic (FRP) are expected to drive the global PA market in the next six years.
The global PA market is dominated by Asia Pacific, which accounted for 55.2% of global volumes consumed in 2012. Growth of PA in Asia Pacific is principally driven by the extensive use of PVC applications from growing end user industries such as automobile and construction in the region. It is the largest PA market, in terms of both production and consumption. Asia Pacificwas followed by Europe with 17.8% share in total volume consumption. The key players in the PA market are UPC Technology Corporation, Aekyung Petrochemical Co. Ltd., Exxon Mobil Corporation, BASF SE and Polynt SpA among others.
Phthalic Anhydride Market: Application Analysis
Unsaturated Polyester Resins (UPR)
Phthalic Anhydride Market: Regional Analysis
Rest of the world
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