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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