EINPresswire/ -- The global phthalic anhydride market is driven by the rising use of phthalic anhydride in alkyd resins and plasticizers, growing consumption of alkyd resins in the paints & coatings sector, and the surge in construction activities across Asia-Pacific. However, concerns over the toxicity of phthalates and the development of bio-based alternatives may hamper growth. On the other hand, increasing demand for polyester polyols and the adoption of glass fiber-reinforced polymers are expected to create lucrative opportunities for market expansion.

According to Allied Market Research, the market was valued at $3.7 billion in 2020 and is projected to reach $5.6 billion by 2030, growing at a CAGR of 4.2% (2021–2030).

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

Market Segmentation Highlights

By Application:

- Plasticizers accounted for over half of the market share in 2020.
- Alkyd resins are expected to register the fastest CAGR of 5.5% during the forecast period.

By End-use Industry:

- Building & construction dominated in 2020, contributing to over one-third of the market share.
- Paints & coatings is anticipated to grow at the highest CAGR of 5.2%.

By Region:

- Asia-Pacific led the global market in 2020 with over 50% share and is forecast to record the fastest CAGR of 4.5%.

Key Market Players:-

Major companies operating in the market include:

Nan Ya Plastics Corporation, BASF SE, Asian Paints Ltd., ExxonMobil Corporation, I.G. Petrochemicals Ltd., C-Chem Co. Ltd., Mitsubishi Gas Chemicals Co. Ltd., Koppers Inc., Stepan Company, Polynt Spa, UPC Technology Corporation, and Thirumalai Chemicals Ltd.

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬' 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬:

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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