Global Phthalic Anhydride Market 2017-2021
About Phthalic Anhydride
PA is an organic compound with the formula C6H4(CO)2O. PA is a white, lustrous, needle-shaped solid that is slightly soluble in water and is produced by the oxidation of either orthoxylene (OX) or naphthalene. This anhydride of phthalic acid is important for industrial applications, especially for the large-scale production of plasticizers. PA is used for manufacturing alkyd resins for paints and varnishes, and unsaturated polyester resins (UPRs). PA finds applications as a dye intermediate, and in the production of pigments.
Technavio’s analysts forecast the global phthalic anhydride market to grow at a CAGR of 5.52% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global phthalic anhydride market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Phthalic Anhydride Market 2017-2021
Technavio recognizes the following companies as the key players in the global phthalic anhydride market: AEKYUNG PETROCHEMICAL, BASF, Exxon Mobil, I G Petrochemicals, and MITSUBISHI GAS CHEMICAL.
Other Prominent Vendors in the market are: C-Chem, Koppers, Polynt, Proviron, Stepan Company, Thirumalai Chemicals, and UPC.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is surge in pricing margin. The price margin of PA surged to a five-year high in 2016, after a year-end increase in the demand for PA to produce DOP. The margin has been negative since 2012 and turned positive only last year. Market participants attributed to the flip from negative to strong demand for PA in late 2016 to make downstream DOP despite the price rise in DOP at the end of the year.”
According to the report, one driver in the market is growth of the construction industry. The demand for PA in most downstream markets is greatly influenced by the general economic conditions. Consequently, the demand principally follows the patterns of the leading economies of the world. The consumption of PA depends heavily on construction and remodeling activity of residential and non-residential areas. China, one of the major regional construction markets, is expected to witness a decline in housing. However, the transition toward a consumer and services-driven economy provides opportunities for growth in the construction industry with the demand for buildings catering to education, healthcare, and social infrastructure, along with retail and other consumer end-markets.
Further, the report states that one challenge in the market is health hazards due to the exposure to PA. There is no specific technique to determine the exposure to PA. However, PA, in the form of vapor, fume, or dust, is a primary irritant to the mucous membranes and upper respiratory tract. Workers exposed to combinations of phthalic acid and PA develop conjunctivitis, hoarseness, cough, bloody nasal discharge, atrophy of the nasal mucosa, occasional bloody sputum, bronchitis, and emphysema. Several cases of bronchial asthma have resulted in skin sensitization with occasional urticaria and eczematous response. Clinical sensitization of PA occurred in a worker who developed symptoms of rhinorrhea, lacrimation, and wheezing after chronic exposure to PA.
AEKYUNG PETROCHEMICAL, BASF, Exxon Mobil, I G Petrochemicals, MITSUBISHI GAS CHEMICAL, C-Chem, Koppers, Polynt, Proviron, Stepan Company, Thirumalai Chemicals, and UPC.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook