Unsaturated polyester resins were the second largest application segment with market share of 18.17 % and global demand for 832.9 kilo tons in 2013. The market is expected to witness lucrative growth due to its rising demand in surface coating and manufacturing reinforced laminates.
Further key findings from the study suggest:
Global phthalic anhydride demand was 4,584.0 kilo tons in 2013 and is expected to reach 5,900.1 kilo tons by 2020, growing at a CAGR of 3.7 % from 2014 to 2020.
Asia Pacific was the leading regional market for phthalic anhydride accounting for over 51 % of global market revenue, valued at USD 3.58 billion in 2013. The market is expected to show extensive growth owing to rapid development in transportation and construction sectors, at an estimated CAGR of 6.2 % from 2014 to 2020.
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Europe and Latin America are expected to witness demand growth in phthalic anhydride, at an estimated CAGR of 2.5 % and 4.1 % from 2014 to 2020, respectively.
In 2013, alkyd resins accounted for the third largest application segment with demand of 691.8 kilo tons and revenue of USD 1.1 billion in 2013. The market is expected to be the most attractive due to rising demand for protective coatings in the paint industry.
The global phthalic anhydride market is highly fragmented with top five companies accounting for less than 30 % of the market in 2013. Key participants include UPC Technology Corp., Aekyung Petrochemicals, BASF SE, ExxonMobil Chemical and Polynt SpA.
For the purpose of this study, Grand View Research has segmented the global phthalic anhydride market on the basis of application and region:
Phthalic Anhydride Application Outlook( Volume, Kilo Tons; Revenue, USD Million, 2012- 2020)
Phthalate Plasticizers Unsaturated Polyester Resins
Alkyd Resins
Others
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