The Global Phthalic Anhydride Market is Forecast to Reach Approximately 4,837 Thousand Tons by the End of 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 26, 2018--The “The Global Phthalic Anhydride Market” report has been added to ResearchAndMarkets.com’s offering.
According to a recently conducted research about the global phthalic anhydride market, as an overall, it is projected to reach approximately 4,837 thousand tons by the end of 2023, increasing at a CAGR of around 2% per year in the period 2017-2023.
The report focuses on both product and regional breakdown, offering a larger perspective on the market dynamics. Although phthalic anhydride is predominantly used as an important intermediate in the plastics industry, the analysis also considers the application of phthalic anhydride across various other industries.
In particular, the largest share of phthalic anhydride consumption is for the production of plasticizers, which accounted for around 36% of the total in volume terms. Meanwhile, the chemical’s application for UPE resins has been growing with the highest rate of about 4.24% per year.
Regionally, the largest global phthalic anhydride market was North East Asia, which accounted for about 40% of the total in volume terms. In comparison, Africa was the smallest global phthalic anhydride market during the analyzed period and is expected to remain such in the medium term.
The consumption of phthalic anhydride is highly dependent on the growth of PVC, which is sensitive to general economic conditions as it is consumed mainly in the construction and automobile industries. Due to the increasing demand for PVC and DOP in the construction and automobile industries, the global phthalic anhydride market has been also growing over the last several years. The increasing infrastructure expenditure is another reason, which led to higher utilization of phthalic anhydride in plasticizers and hence resulted in higher demand for the chemical.
Regionally, in India PA demand has been growing, owing to the government’s increased focus and expenditure on infrastructure and housing development. In North America, there has been another change, linked with BASF’s decision to exit the market in 2015. In October, the company announced it discontinued production of phthalic anhydride at its Pasadena, Texas, US, plant. In Europe, the market development usually depends primarily on availability of both phthalic anhydride and ortho-xylene and the feedstock prices. In addition, there is geographical growth in Europe, particularly for the polyester products as the resins and plasticizers are now more mature markets.
Some of the main players on the phthalic anhydride market are planning to open up additional production capacities, mainly in Asia. In particular, Asia Pacific is anticipated to witness the fastest-paced capacity increase in the medium term. As far as the balance between supply and demand is concerned, the market is forecast to remain in a state of undersupply in most of the upcoming years.
Key Topics Covered
2. Executive Summary
3. Characteristics of Phthalic Anhydride
4. State of the Global Demographics and Economy
5. Overview and Analysis of the Global Phthalic Anhydride Market
6. Overview and Analysis of the Global Production of Phthalic Anhydride
7. Characteristics and Analysis of the Global Prices of Phthalic Anhydride
8. Overview and Analysis of the Global Imports of Phthalic Anhydride
9. Overview and Analysis of the Global Exports of Phthalic Anhydride
10. Balance Between Supply and Demand on the Global Phthalic Anhydride Market
Companies FeaturedIsegen South Africa Atmosa Petrochimie Rutgers Chemicals Orgachim Deza Arkema Basf Lanxess Kemiplas Polynt State-Russia Uuralkhimprom Krasitel Esfahan Pc Farabi Petrochemical Matin Rang Co. Dor Chemicals Gadiv Pc Ind. Basf Corp. Exxonmobil Chemical Koppers Mexichem Sintesis Organicas Anhui Litian Pc Anhui Tianrun Chemicals Petrochina Jinzhou Pc Shandong Chenxi Pc Shandong Hongxin Chem. Continental Chemical Corp. Varteco Quimica Puntana Elekeiroz Panichem Andercol Carboquimica Oxidor and more...
For more information about this report visit https://www.researchandmarkets.com/research/lj9smp/the_global?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181126005508/en/
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INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Research and Markets
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PUB: 11/26/2018 10:24 AM/DISC: 11/26/2018 10:24 AM