Albany, NY -- (SBWIRE) -- 04/20/2015 -- Phthalic anhydride is an organic compound that is primarily used as a catalyst in the production of plasticizers. These plasticizers are eventually used on a large scale in the construction and automobile industries, which, as market studies indicate, have been performing remarkable well in recent years.

By application, phthalic anhydride can be divided into unsaturated polyester resins (UPR), phthalate plasticizers, alkyd resins, and others such as fire retardants, detergents, dyes and pigments, saccharin, herbicides and insecticides, and polyester resin cross-linking agents. These various applications can be seen in end-use industries such as construction, automobiles, and marine as well as land transportation.

The market for phthalic anhydride is primarily driven by the surging demand for phthalate plasticizers. In 2012 alone, the demand for the same was 56.5% of the overall demand for phthalic anhydride. Phthalate plasticizers are used for the production of polyvinyl chloride and the maximum demand comes from Asia Pacific. However, these plasticizers are being met with stiff competition from their non-phthalate counterparts owing to the many benefits presented by the latter.

The demand for unsaturated polyester resins is another growth booster and these are used mainly in the manufacture of fibreglass-reinforced plastics. This segment is projected to fuel the market for phthalic anhydride over the next few years.

Phthalic Anhydride Market Recovers Post Global Economic Slowdown

Geographically, the global phthalic anhydride market can be divided into North America, Europe, Asia Pacific, and Rest of the World. Presently, Asia Pacific dominates the worldwide market for phthalic anhydride and has been doing so for the last few years. In 2012, the region held a 55.2% share in overall PA consumption. Emerging economies such as China, Brazil, and India have been showing tremendous growth in the recent past and reports suggest that these countries will continue to play a significant role in the development of the phthalic anhydride market.

According to a report published by Transparency Market Research, the global market for phthalic anhydride stood at US$6.46 billion in 2012 and is projected to grow to US$9.58 billion by the end of 2019. If these values hold true, the market is forecast to register a CAGR of 5.8% from 2013 to 2019. Volume-wise, the phthalic anhydride market is estimated to witness a CAGR of 3.6%, with global consumption figures rising from the 2012 figure of 4.3 million tons.

However, the market for phthalic anhydride hasn't always been on the path of smooth development. After the economic meltdown of 2008-2009, this sector – like almost every other market – bore the brunt of the global crisis with demand dipping by a great degree. 2010 brought with it the winds of change and the market began picking up. Growth of end-use industries had a considerable impact on the demand for phthalic anhydride. Phthalate plasticizers deserve a special mention as its use in PVC applications gave a major boost to the phthalic anhydride market, thanks to the upsurge in the automobile and construction industries.

Integration of Phthalic Anhydride Manufacturers with Petrochemical Sector Fuelling Growth

On one hand, the global phthalic anhydride market is rather fragmented, with a handful of companies enjoying meagre power over the market. In 2013, the five leading manufacturers of phthalic anhydride held less than one-third of the overall market.

On the other hand, the integration of petrochemical companies with phthalic anhydride manufacturers is a remarkable characteristic of this market, which has continued to give it a major boost. Petrochemical companies provide raw materials for the production of phthalates and plasticizers. BASF SE and Exxon Mobil Corporation are classic examples of companies that have benefited from such integration across the value chain.

Other key players in the phthalic anhydride market are Nippon Steel & Sumitomo Metal Corporation, Koppers Inc., Thirumalai Chemicals Ltd., Polynt SpA, I G Petrochemicals Ltd., Mitsubishi Gas Chemical Co. Inc., Aekyung Petrochemical Co. Ltd., UPC Technology Corporation, Proviron Industries NV, and Stepan Company.

Browse Full Global Phthalic Anhydride Market Report With Complete TOC @ http://www.transparencymarketresearch.com/phthalic-anhydride.html

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