Pentaerythritol Market Size, Share and Growth Analysis
Pentaerythritol Market Size and Growth Rate:
According to the Research Report, the Global Pentaerythritol Market Size was valued at USD 1.18 billion in 2014 and is expected to reach approximately USD 2.15 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 6.91% during the forecast period
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Pentaerythritol Market Overview:
It is expected that the growing demand for stable polyols in various derivative manufacturing industries will stimulate the global market for pentaerythritol in coming years. Pentaerythritol is gaining importance as a substitute for electrical transformer fluids due to its biodegradability and less dangerous nature.
Pentaerythritol Market Growth Drivers and Restraints:
One of the major trends in the market is the use of pentaerythritol for applications in the automotive industry such as coatings, interiors and high-quality lubricants. Pentaerythritol is also used in the synthesis of polyurethane foams, used in automobile interiors. It is used in a variety of industries such as paints, automobiles, construction and others. The increased use of alkyd paints in the automotive and construction sectors, particularly in developing countries, is expected to lead to growth in the pentaerythritol market. In addition, the ecological property of pentaerythritol is a key growth factor for the market.
However, the increased demand for acetaldehyde and formaldehyde for other applications will result in a shortage of supply which should hinder the world market.
Innovative new applications of pentaerythritol, such as marine treatments and treatments, are expected to provide great opportunities for key players in the global market. It is expected that the development of new products and the growth of specific application market segments such as flame retardants and explosives will create new market opportunities for the market participants.
Pentaerythritol is used in many applications in the automotive industry, including high quality lubricants, interiors, coatings, etc. It is also used in the synthesis of polyurethane foams, used in automobile interiors.
Geographic Segmentation of the Pentaerythritol Market:
The Asia-Pacific region dominated the global pentaerythritol market with a market share of 42.2% in 2011. Increasing demand and production of pentaerythritol in China and India, as well as growth in the construction and the automotive industry, should boost global demand for pentaerythritol. China is a major producer and the largest consumer of pentaerythritol and its derivatives. Europe and North America together accounted for almost 50% of global demand. The rest of the world, which includes Brazil, Africa, the Middle East, etc., was the smallest market in 2011, due to the slow pace of technological progress and the poor way of life of the region's residents.
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Key Market Players of the Pentaerythritol Market:
The global pentaerythritol market was highly concentrated, with four major participants representing 51.9% of the market in 2011. The market was dominated mainly by Perstorp, Hubei Yihua Group, Ercros, Mitsui Chemical, etc.
Pentaerythritol Market Key Segmentation:
By Application:
- Alkyd inks
- Plasticizers
- Radiation cure coatings
- Alkyd paints
- Alkyd adhesives/sealants
- Alkyd varnishes
- Lubricants
By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- MiddleEast & Africa
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