USD 4.52 Billion
Global Phthalic Anhydride Market Size, Share, Growth Analysis, By Technology (Naphthalene Catalytic Oxidation, O-xylene Catalytic Oxidation), By Application (Phthalate Plasticizers, Unsaturated Polyester Resins (UPRs)), By End-use Industry (Automotive, Electrical & Electronics), By Region -Industry Forecast 2025-2032
Report ID:
SQMIG15E2563 |
Region:
Global |
Published Date: January, 2025
Pages:
157
|Tables:
90
|Figures:
66
Phthalic Anhydride Market Insights
Global Phthalic Anhydride Market size was valued at USD 4.52 Billion in 2023 and is poised to grow from USD 4.69 Billion in 2024 to USD 6.32 Billion by 2032, growing at a CAGR of 3.8% in the forecast period (2025-2032).
Phthalic anhydride is extensively used in the creation of phthalic plasticizers, which is expected to bolster its demand in the future. Rapidly surging demand for plasticizers in the polymer industry and growing investments in infrastructure development activity are forecasted to primarily augment the sales of phthalic anhydride over the coming years. Increasing use of alkyd resins in coatings is also expected to bolster phthalic anhydride market growth going forward owing to its ability to provide a glossy finish to coatings. Rising use of phthalic anhydride in the manufacturing of unsaturated polyester resins (UPRs) is also expected to create new opportunities for phthalic anhydride suppliers in the long run. On the contrary, fluctuations in raw material pricing, availability of substitute chemicals, and stringent environmental regulations are anticipated to be key constraints limiting the demand for phthalic anhydride across the study period and beyond.
Market snapshot - (2025-2032)
Global Market Size
Largest Segment
Naphthalene Catalytic Oxidation
Fastest Growth
O-xylene Catalytic Oxidation
Growth Rate
3.8% CAGR
Global Phthalic Anhydride Market ($ Bn)
Country Share for North America Region (%)
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Phthalic Anhydride Market Segments Analysis
Global phthalic anhydride market is segmented based on technology, application, end-use industry, and region. Based on the technology, the market is segmented into O-Xylene catalytic oxidation and naphthalene catalytic oxidation. Based on end-use industry, the market is segmented into automotive, electrical & electronics, paints & coatings, and others. Based on the application, the market is segmented into phthalate plasticizers, unsaturated polyester resins (UPRs), alkyd resins, and other applications. Based on the Region, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
Analysis by Technology
Naphthalene catalytic oxidation technology is estimated to account for a dominant share of the global phthalic anhydride industry going forward. Use of high purity naphthalene ensures better outcomes and quality of phthalic anhydride by minimizing impurities and maximizing final output, which is why this segment is estimated to hold sway over others in the future. Reduced emissions caused by this technology allow phthalic anhydride manufacturers to comply with stringent environmental regulations and also be able to manage disposal with ease as well. Lower costs of feedstocks and low operational costs of this technology allow it to further the cement the share of this segment in the long run
On the other hand, the use of O-xylene catalytic oxidation technology is slated to rise at a notable pace across the study period and beyond. Energy savings and cost savings offered by this technology by reducing the burning of phthalic anhydride and removal of unnecessary byproducts are slated to create new opportunities via this segment in the future. The liquid state of O-xylene also makes the feeding system straightforward and reduces complications in the phthalic anhydride manufacturing processes. Investments in advancements of O-xylene catalytic oxidation technology are also estimated to make this segment more opportune over the coming years.
Analysis by Application
Phthalate plasticizers are forecasted to account for the largest global phthalic anhydride market share over the coming years. Rapidly surging polymer manufacturing activity around the world and the growing use of plasticizers in the same are also cementing the dominance of this segment going forward. Use of phthalate plasticizers provides flexibility, bendability, and durability to plastics thereby making it essential in plastic manufacturing. Phthalate plasticizers are slated to play a vital role in manufacturing of PVC pipes, medical devices, cables & wire insulations, the automotive industry, and synthetic leather.
Meanwhile, the demand for phthalic anhydride in unsaturated polyester resins (UPRs) applications is also expected to rise at a notable pace in the future. The extensive use of these resins in multiple industry verticals and their robust application scope in automotive and construction industry also helps create new opportunities for phthalic anhydride suppliers. Surging demand for reinforced plastics and glass plastics is also expected to help boost revenue generation via this segment in the future. High electrical resistance, heat resistance, and lightweight nature of unsaturated polyester resins are also projected to offer new business scope for phthalic anhydride providers focusing on this segment.
Global Phthalic Anhydride Market By Technology
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Phthalic Anhydride Market Regional Insights
North America is forecasted to hold the second-largest global phthalic anhydride market share over the coming years. Growing demand for plasticizers, rising use of PVC products, and rising automotive production and construction activity are allowing this region to provide attractive opportunities for market players. Increasing investments in the development of advanced plasticizer technologies and the presence of leading phthalic anhydride suppliers are also expected to open new avenues of business in this region going forward. Canada and the United States are estimated to offer lucrative opportunities for phthalic anhydride suppliers operating in this region going forward.
The Asia-Pacific region is estimated to emerge as the most opportune market for phthalic anhydride providers in the world. The presence of key automotive manufacturers, rising infrastructure development activity, and rapid industrialization are expected to help this region hold prominent over others in the long run. India, China, and Japan are slated to be at the forefront of revenue generation for phthalic anhydride companies operating in the Asia-Pacific region. Supportive government initiatives to promote industrialization and low labor and raw material costs coupled with high demand for phthalic anhydride in multiple industry verticals are expected to offer lucrative business scope for phthalic anhydride companies in the future.
Global Phthalic Anhydride Market By Region
- Largest
- Fastest
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Phthalic Anhydride Market Dynamics
Drivers
High Demand for Plasticizers in Polymer Industry
- Plasticizers play a crucial role in manufacturing of any kind of polymer and phthalic anhydride is a key raw material used in the production of phthalate plasticizers. Surging demand for flexible PVC products is also expected to bolster the demand for phthalic anhydride as phthalate plasticizer is a key raw material in PVC polymer production.
Use in Production of Unsaturated Polyester Resins (UPRs)
- Phthalic anhydride is a crucial component in the production of UPRs, widely used in the marine, automotive, and electronics industries. The rising use of UPRs in lightweight composite materials for transportation and construction applications is projected to bolster the global phthalic anhydride market outlook across the study period.
Restraints
Fluctuations in Raw Material Pricing
- Phthalic anhydride is usually produced from petroleum-based feedstock called ortho-xylene. This feedstock is subject to extreme price volatility due to multiple factors such as economic changes, trade bans, etc. These fluctuations in availability and pricing of raw materials are slated to hurt the overall phthalic anhydride market growth potential.
Competition from Substitute Chemicals
- There are multiple substitute chemicals available in the market that can easily replace phthalic anhydride and one such prime example is maleic anhydride. Hence, the growing adoption of such substitute chemicals is projected to negatively impact the demand for phthalic anhydride across the study period and beyond.
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Phthalic Anhydride Market Competitive Landscape
Developing sustainable phthalic anhydride manufacturing process is projected to be the prime focus of almost all market players going forward. Targeting the countries with increasing urbanization and industrialization is also expected to offer good returns for phthalic anhydride companies in the long run. Launching new phthalate plasticizers and enhancing production capabilities are also estimated to be popular strategies for market players in the future.
Top Player’s Company Profiles
- NAN YA PLASTICS CORPORATION
- Exxon Mobil Corporation
- MITSUBISHI GAS CHEMICALS COMPANY, INC.
- I.G. PETROCHEMICALS LTD
- UPC Technology Corporation
- Thirumalai Chemicals
- Koppers Inc.
- C-CHEM CO. LTD
- POLYNT SPA
- Stepan Company
Recent Developments
- In January 2024, Perstorp, a renowned specialty chemicals manufacturer, announced the launch of a non-phthalate plasticizer owing to rising emphasis on sustainability. Pevalen™ Pro 100 utilizes 100% renewable carbon content and a carbon footprint reduction of around 80% in comparison to its traditional conterpart.
- In June 2023, KLJ Group, a leading provider of plasticizers based in India commissioned a new Plasticizers & Phthalic Anhydride production facility in Gujrat, India. The new facility boasts a capacity of 300,000 MT of Phthalate Plasticizers, 100,000 MT of Phthalic Anhydride and helps KLJ expand its business presence going forward.
Phthalic Anhydride Key Market Trends
- Expansion in Emerging Markets: Phthalic anhydride companies should invest in expanding their operations in developing countries to maximize their business scope in the long run. Brazil, India, China, and Indonesia are expected to be some of the most opportune markets for phthalic anhydride providers around the world. High emphasis on urbanization and industrialization is slated to make this a major phthalic anhydride market trend in the long run.
- Sustainable Phthalic Anhydride Production Processes: Phthalic anhydride providers can focus on incorporating sustainability in their production process and products to maximize their business scope. Minimization of emissions and waste from phthalic anhydride production process is expected to be the prime focus on companies trying to keep up with the sustainability trend in the long run.
Phthalic Anhydride Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing demand for plasticizers and rising production of unsaturated polyester resins are projected to bolster phthalic anhydride market growth in the future. However, competition from substitute chemicals and fluctuations in raw material pricing are slated to hamper phthalic anhydride demand going forward. Robust industrialization in the Asia Pacific region allows it to emerge as the most opportune regional market in the global phthalic anhydride industry landscape. Emphasis on promoting sustainable phthalic anhydride production is slated to offer lucrative business scope for market players in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.52 Billion |
| Market size value in 2032 | USD 6.32 Billion |
| Growth Rate | 3.8% |
| Base year | 2024 |
| Forecast period | (2025-2032) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Phthalic Anhydride Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Phthalic Anhydride Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Phthalic Anhydride Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Phthalic Anhydride Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Phthalic Anhydride Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Phthalic Anhydride Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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