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The Asia Pacific Region Is Estimated To Grow At The Highest CAGR for Pentaerythritol Market Over The Forecast Period
NEW YORK CITY, NEW YORK, UNITED STATES, July 22, 2022 /EINPresswire.com/ -- The Global Pentaerythritol Market size was USD 890.51 million in 2019 and is projected to reach USD 1.05 billion by 2027, growing at a CAGR of 2.3% during the forecast period.
Growing demand for stable polyols across several derivatives manufacturing industries is expected to drive market growth. Pentaerythritol has been gaining prominence as a substitute for electrical transformer fluids owing to its biodegradability and safe nature.
Various characteristics such as low volatility, as well as high flash point offer ignition resistance owing to which, pentaerythritol has emerged as an ideal substitute for dielectric fluids used for transformers. Increasing the application of pentaerythritol in transformer dielectric fluids is also expected to have a positive growth impact on the market over the forecast period. Pentaerythritol finds applications in numerous end-use industries, which include automotive, paints, and construction. Automotive applications such as lubricants, interior, coatings, and polyurethane foam have increased over the last few years.
Increasing demand for substitutes, including formaldehyde and acetaldehyde for applications in paints, coatings, and synthetic rubber, is anticipated to pose a challenge for the growth of the pentaerythritol market. Volatile raw material prices may hinder the growth over the forecast period.
Increasing R&D and demand for bio-based polyols have led to the development of bio-based routes for manufacturing the polyol. The development of bio-based products, coupled with the growth of niche application segments such as explosives and flame retardants, is expected to create immense opportunities for the industry participants.
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Major companies Ercros SA, Celanese Corp., Holding AB, Perstorp, Evonik, Zarja Chemical, Yunnan Yuntianhua, Ruiyang Chemical, Henan Pengcheng Group, Baoding Guoxiu Chemical Industry, Hubei Yihua Group Co. Ltd., Mitsui Chemicals Inc., U-Jin Chemical, Shahid Rasouli, MKS Marmara Entegre Kimya, Kanoria Chemicals & Industries Limited, Copenor.
Market Key Trends: The Global Pentaerythritol Market size was USD 890.51 million in 2019 and is projected to reach USD 1.05 billion by 2027, growing at a CAGR of 2.3% during the forecast period. Growing demand for stable polyols across several derivatives manufacturing industries is expected to drive market growth. Pentaerythritol has been gaining prominence as a substitute for electrical transformer fluids owing to its biodegradability and safe nature. Various characteristics such as low volatility, as well as high flash point offer ignition resistance, owing to which, pentaerythritol has emerged as an ideal substitute for dielectric fluids used for transformers. On the basis of applications, the pentaerythritol market has been classified into alkyd inks, alkyd paints, alkyd adhesives and sealants, and others. Alkyd paints was the leading application segment in 2019. The Asia Pacific region is estimated to grow at the highest CAGR over the forecast period on account of the continuous expansion of various end-use industries such as transportation & automotive, agriculture, building & construction, and plastic industry, among others.
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Segments covered in the report:
This report shows revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2017 to 2027. For this study, Reports and Data has segmented the pentaerythritol market based on type, application, and region
Pentaerythritol -95 Pentaerythritol -98 Others
Alkyd Paints Alkyd Inks Alkyd Adhesives and Sealants Others
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North America U.S. Canada Europe Germany France U.K. Spain Italy Rest of Europe Asia Pacific China India Japan Australia ASEAN Rest of Asia Pacific Latin America Brazil Mexico Middle East & Africa
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