Global Phthalic Anhydride Market
Phthalic Anhydride Market Size And Forecast
According to Verified Market Research, the Global Phthalic Anhydride Market was valued at USD 7.9 Billion in 2018 and is projected to reach USD 11.8 Billion by 2026, growing at a CAGR of 5.03% from 2019 to 2026.
Global Phthalic Anhydride Market Outlook
An increase in the manufacturing of polyvinyl chloride which uses phthalic anhydride as a plasticizer is projected to propel the growth of the phthalic anhydride market. Moreover, increasing demand from paints and coatings industry due to its high durability and resistance also drives the market growth. Furthermore, phthalic anhydride is used to make flame retardants, which finds applications in foams of furniture, electronics products, and car seats among others, are expected to fuel high demand from automotive, home furnishing, and electrical and electronics industry. However, increase in demand for non-phthalates in the manufacturing of PVC compound is a major factor that might hamper the market growth. Furthermore, increased investment in research and development for using phthalic anhydride in manufacturing glass fiber might provide the lucrative opportunity for the market.
Global Phthalic Anhydride Market Competitive Landscape
The Global Phthalic Anhydride Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Aekyung Petrochemical Co. Ltd., I.G. Petrochemicals Ltd., Exxon Mobil Corporation, Mitsubishi Gas Chemicals Co. Ltd., Nan Ya Plastics Corp., C-Chem Co. Ltd., BASF S.E., Koppers Inc., Shandong Hongxin Chemicals Co. Ltd., and Asian Paints Ltd.
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