Phthalic anhydride (PA) is a chemical intermediate and is mainly used as a catalyst in the manufacturing of plasticizers. It is an organic compound produced by the oxidation of orthoxylene or naphthalene. Key application of phthalic anhydride includes production of phthalate plasticizers for making polyvinyl chloride (PVC), which is further used on a large scale in construction and automobile industry. The other significant applications of phthalic anhydride include unsaturated polyester resins (UPR), alkyd resins, pigments and dyes among others.
The revenue generated by the global PA market was USD 6,465.1 million in 2012 which is expected to grow to USD 9,589.8 million by 2019, growing at a CAGR of 5.8% from 2013 to 2019. Phthalate plasticizers are the largest application segment for the PA market followed by unsaturated polyester resins and alkyd resins. The other growing applications of PA include dyes and pigments, herbicides and insecticides, detergents, saccharin, fire retardants and polyester resin cross-linking agents.
Automobiles, construction, land and marine transportation are the major end users of PA. Automobile and construction dominated the global PA consumption and the positive growth in this industry across the globe is driving the PA market. The rise in the consumption of polyvinyl chloride in the automobile and construction industry is driving the demand for phthalate plasticizers which is propelling the growth in PA market. However, alkyd resin market is the most attractive application in the PA market owing to strong growth prospects.
The demand for phthalic anhydride has been driven by strong global demand for phthalate plasticizers. The phthalate plasticizers market dominated the demand for PA and accounted for 56.5% of the global volume consumed in 2012. Growing demand from the phthalate plasticizers market and strong demand from Asia Pacific has remained the major growth driver for the PA market. UPR is another important outlet for PA, 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 and unsaturated polyester resins in the manufacturing of fiberglass-reinforced plastic (FRP) is expected to drive the global PA market in the next six years.
The global PA market is segmented based on geography. Asia Pacific represents the largest and the most important market for the PA industry. In the recent past, PA market was driven by emerging nations such as China, India and Brazil. The PA market witnessed significant decline in demand due to the global economic slowdown during 2008 and 2009. However, the PA market has witnessed steady rise in demand since 2010 due to the upsurge in end user industries following the revival of the global economy. Moreover, ever rising demand for phthalate plasticizers in PVC applications is expected to trigger demand for PA in the automobile and construction industry.
Plasticizers which are produced by using phthalic anhydride as a raw material are known as phthalate plasticizers. Non-phthalate plasticizers are produced from esters based on acids which do not contain impurities of phthalic anhydride. Global consumption of lower-molecular-weight phthalates used for manufacturing of plasticizers is expected to decline in many regions due to replacement, mostly by non-phthalates. The main cause for this replacement can be attributed to the advantages offered by non-phthalate plasticizers over their phthalate counterparts.
The raw materials for manufacturing phthalic anhydride are provided by petrochemical companies. Integration is a striking feature of the market and different large petrochemical companies integrate forward into manufacturing of phthalates and plasticizers. Exxon Mobil Corporation and BASF SE are among the key companies with significant level of integration across the value chain that manufacture phthalic anhydride along with its raw materials and application products. UPC Technology Corporation, Aekyung Petrochemical Co. Ltd., Exxon Mobil Corporation, BASF SE and Polynt SPA are some of the major manufacturers of phthalic anhydride.
Phthalate plasticizer was the largest application segment for the PA market and accounted for largest share of the global PA consumption in 2012. The other growing applications of PA include herbicides and insecticides, dyes and pigments, saccharin, detergents, polyester resin cross-linking agents and fire retardants. The report covers forecast and analysis for the Phthalic Anhydride (PA) market on a global and regional level. The demand forecast is done based on volumes (Kilo tons) and revenue (USD million) for the period ranging from 2012 to 2019. The study includes the drivers and restraints for the PA market along with the impact they have on the demand over the forecast period. In addition, the report includes the study of the opportunities available in the PA market on a global and regional level.
To give the users of this report a comprehensive view on the PA market, we have included a detailed value chain analysis. To understand the competitive landscape in the market, an analysis of the Porters five forces model for the PA market has also been included. The study encompasses a market attractiveness analysis, wherein the applications are benchmarked based on their market size, growth rate and general attractiveness. For the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders.
Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed the key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations and agencies. This has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
The study provides a decisive view on the PA market by segmenting the market based on its applications. All the application segments have been analyzed based on present and future trends and the market is estimated from 2012 to 2019. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific and Rest of the world (RoW). This segment includes the demand for individual applications in all the regions. Inflation is not a part of pricing in this report. Prices of phthalic anhydride vary in each region. Given that different end users use different types of products, pricing for each application varies according to region while estimating and forecasting market revenue on a global basis. Regional average price has been considered while breaking down this market by end application in each region. The market numbers for phthalic anhydride market are also given on the basis of product type in the context of the global as well as regional market. All volumes i.e. Kilogram/Tons/Kilo Tons are expressed as Kilogram/Tons/Kilo Tons of dry polymers. All market revenue has been calculated on the basis of sales and consumption trends. All USD exchange rates are as of 2013.
The report includes a detailed competitive outlook including the market share along with company profiles of the key industry participants operating in the global market. Key players profiled in the report include UPC Technology Corporation, Aekyung Petrochemical Co. Ltd., Exxon Mobil Corporation, BASF SE and Polynt SpA among others. The company profiles include attributes such as company overview, financial overview, business strategy, SWOT analysis and recent developments.
Phthalic Anhydride Market: Application Analysis
- Phthalate Plasticizers
- Unsaturated Polyester Resins (UPR)
- Alkyd Resins
Phthalic Anhydride Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World