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According to the latest report by IMARC Group, titled “Pentaerythritol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” offers a comprehensive analysis of the industry, which comprises insights on pentaerythritol market trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global pentaerythritol market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026.
Pentaerythritol or 2,2-bis (hydroxymethyl) propane-1,3-diol refers to a white, crystalline, and solid organic compound. It is non-hygroscopic, non-volatile, and stable in air that is obtained by the process of condensation of acetaldehyde and formaldehyde. It also offers various properties of water resistance, luster, flexibility, and alkali resistance. Due to this, it is extensively used to manufacture synthetic lubricants, resins, varnish, refrigeration systems, and surface coating. In addition, the high flash point of pentaerythritol makes it an ideal substitute for dielectric fluids in the transformer.
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The global pentaerythritol market is primarily driven by its increasing applications in numerous industries. Pentaerythritol is used as a substitute for formaldehyde and acetaldehyde in as the production of paints, plasticizers, coatings and synthetic rubber. Pentaerythritol is also utilized as an alternative to electrical transformer fluids. In the automotive industry, pentaerythritol is used to manufacture automotive lubricants and polyurethane foam. Besides this, extensive research and development (R&D) activities have resulted in the introduction of bio-based polyols, such as pentaerythritol, which is expected to bolster the market growth in the upcoming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
Our report has categorized the market based on region, product type, application and end use industry.
Key highlights of the report:
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