Phthalic Anhydride Market Size, Share, Growth Report 2032

 


The  Phthalic Anhydride Market  is projected to experience substantial growth, with market size expected to reach approximately USD 16.26 billion by 2030, growing at a CAGR of 6.00% during the forecast period. The market was valued at USD 10.2 billion in 2022 and is anticipated to grow due to increasing applications in various industries such as plastics, paints, and coatings​.

Global Phthalic Anhydride Market Size

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Key Drivers include the expansion of the construction industry, the growing demand for phthalic anhydride in the automotive sector, and the increasing use of unsaturated polyester resins (UPRs) in various applications. Additionally, the market is influenced by trends like the rising demand for green and sustainable resins​.

Regional Insights highlight that the Asia-Pacific region, particularly countries like China and India, holds a significant share of the market due to high consumption in the plastics and automotive industries. The region is expected to continue its dominance due to low production costs and increasing manufacturing capacities​.

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Major Players in the market include BASF SE, Exxon Mobil Corp., Mitsubishi Chemical Corporation, and LANXESS, among others. These companies are focusing on innovations and expansions to enhance their market presence​.

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