Phthalic Anhydride Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Manufacturing Process, 2015-2032

H1 2023: In H1 2023, the price of Phthalic Anhydride fluctuated in the Asia Pacific region. Phthalic anhydride's market price increased in the first three months 2023 in China. The increase in feedstock costs in China was brought about by an increase in the cost of producing phthalic anhydride. Ortho Xylene's short-term price trend is primarily higher, and the fluctuating downstream plasticizer market had an effect on Phthalic Anhydride prices. The product's supply was low due to increased demand from the downstream fertilizer industry. However, Phthalic anhydride prices in the Chinese market began to fall from April 2023. There are various reasons for this price decrease. First, upstream feedstock inputs, the production of Phthalic Anhydride became less expensive in China. The overall operational cost in market was subsequently decreased as a result of declining feedstock and cheaper production costs. Also, high inventory level of phthalic anhydride was caused due to lower use of downstream plasticizer sectors in China. On the other hand, Phthalic anhydride prices were mixed in Europe in H1 2023. The region's poor demand for plasticizers supported the poor pricing in the beginning of 2023. However, prices started to fall and picked up speed near the March as downstream demand declined. Phthalic anhydride inventories increased, and the downstream demand lowered, which affected pricing. Due to declining pricing fundamentals, Phthalic Anhydride price trends saw a little decline at the start of April 2023. Low prices for natural gas and crude oil hurt the petrochemical sector, which in turn caused prices to fall in China. April saw a sharp decline in prices due to a number of factors, including low feedstock O-Xylene prices, deflated freight rates, and a decline in demand from the polymer sectors. The German market's supply chain was impacted. There was an increase in the inventory level of Phthalic Anhydride due to lower consumption from the downstream market, and overstocking of feedstock O-Xylene

 

The global Phthalic Anhydride market stood at approximately 180 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 4.56% during the forecast period until 2032. 

 

Phthalic anhydride is an organic chemical. It is a vital industrial chemical that is employed in the creation of plasticizers. Ortho-Xylene and Naphthalene are subjected to oxidation in the production of phthalic anhydride. Plastics, automotive, paint & coatings, electrical & electronics, and other end-use sectors place a high value on the anhydride-derived goods. Phthalic anhydride is common ingredient in the creation of plasticizers. PVC producers use majority of the plasticizers in their products to change the properties to meet the needs of the consumer. PVC is used to makes pipes & fittings, general use goods, automotive parts, and more. Also, Phthalic anhydride is also used to make alkyd resins, which are used to make paints, insect repellents, polyester polyols, and other products.

 

The global phthalic anhydride market is expected to be driven by the growing need for plasticizers in the production of flexible PVC. PVC demand and production have surged in globe due to the building and construction industry's recent strong growth. Phthalic anhydride demand is also anticipated to soar throughout the projected period due to the increased demand for PVC from the automotive industry for usage in the production of dashboards and vehicle body parts including car doors, sheathing electrical cables, and instrument panels. It is anticipated that the construction and automotive industries' high PVC demand will increase the need for plasticizers, which will therefore have a direct impact on the demand for phthalic anhydride. The main factors contributing to Phthalic Anhydride's rapid rise are its widespread application in a variety of sectors and its affordable availability. Furthermore, alkyd resins based on phthalic anhydride are frequently employed in the manufacturing of solvent-based coatings. Rapid industrialization in emerging nations like China, India, and Brazil has resulted in a sharp increase in the demand for paints and coatings for usage in furniture, fixtures, architecture, and machinery. Because of this, it is projected that during the forecast period, makers of paints and coatings would have a sharp increase in demand for phthalic anhydride. Owing to these reasons, the global Phthalic Anhydride market is likely to reach approximately 420 thousand tonnes in 2032. 

 

In terms of consumption, the Asia Pacific region leads the world market for Phthalic Anhydride. Due to a sharp increase in government spending on the construction of infrastructure and the quick industrialization of nations like China and India. Because phthalic anhydride is used as a raw material for the production of end products, the Asia-Pacific phthalic anhydride market is driven by the rise in demand for phthalic anhydride in various end-user industries, including building & construction, automotive, paints & coatings, electrical & electronics, marine, and agriculture. Furthermore, the region's expanding construction industry is predicted to generate strong demand for PVC products, which is projected to spike demand for phthalic anhydride from PVC product manufacturers. This is likely to drive the growth of the Asia-Pacific phthalic anhydride market. 

 

Based on the end-user industry, the global Phthalic Anhydride market is divided into Plasticizers, Alkyd Resins, Unsaturated Polyester Resins, and Others. Among these sectors Plasticizers is the leading segments and held about 50% of the global Phthalic Anhydride market in 2022. 

 

Major players in the Global Phthalic Anhydride market are LANXESS, Clariant, Avient Corporation, The Lubrizol Corporation, LG Chem, BASF SE, Dow, DuPont, LSB INDUSTRIES,  ADEKA CORPORATION , Chemplast Sanmar Limited, Westlake Chemical Corporation, Mitsubishi Chemical Corporation,, Solvay, Akzo Nobel N.V., Arkema, and Eastman Chemical Company. 

 

Years considered for this report:

 

Historical Period: 2015- 2022

Base Year: 2022

Estimated Year: 2023

Forecast Period: 2024-2032

 

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Objective of the Study: 

 

• To assess the demand-supply scenario of Phthalic Anhydride which covers production, demand and supply of Phthalic Anhydride market in the globe.

• To analyse and forecast the market size of Phthalic Anhydride   

• To classify and forecast Global Phthalic Anhydride market based on end-use and regional distribution.

• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Phthalic Anhydride market in the globe.

 

To extract data for Global Phthalic Anhydride market, primary research surveys were conducted with Phthalic Anhydride manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Phthalic Anhydride market over the coming years. 

 

ChemAnalyst calculated Phthalic Anhydride demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Phthalic Anhydride. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst. 

 

 

Key Target Audience:

 

• Phthalic Anhydride manufacturers and other stakeholders

• Organizations, forums and alliances related to Phthalic Anhydride distribution

• Government bodies such as regulating authorities and policy makers

• Market research organizations and consulting companies

 

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Phthalic Anhydride manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

 

Report Scope:

 

In this report, Global Phthalic Anhydride market has been segmented into following categories, in addition to the industry trends which have also been detailed below: 

 

Attribute	Details
Market size Volume in 2022	180 thousand tonnes
Market size Volume in 2032	475 thousand tonnes
Growth Rate	CAGR of 4.56% from 2023 to 2032
Base year for estimation	2023
Historic Data	2015 – 2022
Forecast period	2024 – 2032
Quantitative units	Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage	Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered	By End-Use: (Plasticizers, Alkyd Resins, Unsaturated Polyester Resins, and Others) By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope	North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Available Customizations:

 

With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.

 

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