Pentaerythritol Market Research Report- Information By Application (Paints & Coatings, Plasticizers, Lubricants, Adhesive & Sealant, Inks, Varnishes, And Others) Region – Forecast Till 2023
Pentaerythritol is a solid organic compound and find usage in some of the end use application such as plasticizers, adhesive & sealants, lubricants, paints & coatings, varnishes, inks, and others. The pentaerythritol market is projected to witness significant growth on account of their superior stability combined with excellent usage in various end use industries specifically in building & construction, automotive & transportation, and others. Paints & Coatings holds for the largest application segment and is estimated to retain their dominance due to expanding construction activities in emerging economies.
The factors attributed to the pentaerythritol market growth are continuous growth of automotive industry in developing countries, growing mining and exploration activities, and high adoption rate in numerous end use application. Furthermore, expanding population coupled with burgeoning demand for good quality lubricants has raised the consumption of pentaerythritol which is likely to fuel the growth of the market over the estimated period.
Top 10 Key Players
Samyang Chemical Corporation
Methanol Chemicals Company
Kanoria Chemicals & Industries Limited
Perstorp Holding AB
Hubei Yihua Group Co.,Ltd
Jiangsu Ruiyang Chemical Co
U-JIN Chemical Co.,Ltd
Industry/ Innovation/ Related News
February 2016- Perstorp announced to sign an agreement with Maharashtra Industrial Development Corporation to invest in a new production plant for pentaerythritol in India. This agreement will help company to boost their position in the Asian Market and tap the increasing market for coatings in India.
July 2015- Perstorp announced to acquire the pentaerythritol, sodium formate, and di-penta business from Japan’s Koei Chemical Company Ltd. This capacity expansion will help Perstorp to expand their global reach across the globe.
Geographically, Asia Pacific is anticipated to hold the leading pentaerythritol market share in 2016 which is followed by Europe and further trailed by North America. In North America the pentaerythritol market is anticipated to exhibit moderate growth over the assessment period owing to growing awareness regarding the benefits associated with product coupled with raised consumption in end use application in this region. Asia Pacific is predicted to witness substantial growth over the forecast period in pentaerythritol market due to growing application of pentaerythritol in various end use application segment. In Asia Pacific, the demand for pentaerythritol is predicted to enhance in numerous countries such Indonesia, the Philippines, Taiwan, India, Japan, South Korea, and China due to increasing population coupled with shifting of production units for most of the key manufacturers in this region. In Europe, pentaerythritol market is projected to register above average growth due to shifting consumer preference towards the pentaerythritol along with high adoption rate in paints & coatings and plasticizer application specifically in Germany, Poland, Spain, UK, France, Italy, Belgium, and Russia.
The global pentaerythritol market is further classified on the basis of the application, and region. On the basis of the application, the market is segmented into paints & coatings, plasticizers, lubricants, adhesive & sealant, inks, varnishes, and others. Other application of pentaerythritol includes medicine, pesticide, flame retardants, and explosives. Among them, paints & coatings accounted for the largest market share in 2016 and is estimated to hold around 39% of the total application market share. The factors behind the segmental growth are rising automotive production and sales, increasing consumption of high-quality paints & coatings in the construction and transportation sector.
Adhesive and sealant application segment is expected to register healthy growth over the assessment period at a healthy CAGR due to increasing various rail-road construction projects in emerging economies across the globe. Furthermore, increasing health-related awareness coupled with the continuous growth of the pharmaceutical & healthcare sector in developed and developing countries is estimated to drive the growth of the market over the assessment period. Rising innovation and R&D activities to develop bio-based polyols along with stringent regulations regarding solvent-based coatings is estimated to give new momentum to the growth of the market.
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Pentaerythritol Market report has analyzed the degree of competition among the major producers in pentaerythritol market as well as sector growth and market scenario. The global pentaerythritol market comprises of broad range of suppliers operating in the market which involves medium level and large scale suppliers. Some of the key players of pentaerythritol which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as moderate level and high level suppliers belongs to this province specifically from Japan, Australia, China, India, South Korea, the Philippines, Malaysia, Taiwan, and Thailand. Moreover, the key manufacturers of pentaerythritol are observed to follow numerous strategic plans to enhance their product portfolio such as product launches, strategic acquisition, distribution agreements, joint ventures, and mergers, and exclusive agreements. The key manufacturers in this market are expected to enhance their manufacturing capacity of pentaerythritol to meet the rising demand for pentaerythritol worldwide.
The Asia Pacific is estimated to be the largest pentaerythritol market in 2016, which is further followed by Europe and trailed by North America on account of growing demand from paints & coatings, lubricants, and adhesive & sealants among others. In Europe, Italy, Germany, and France are estimated to capture the largest market share and is projected to retain their dominance owing to rising demand from automotive & other transportation manufacturers.
In North America, the U.S. and Canada are among the leading contributors to the regional pentaerythritol market and is estimated to retain their dominance over the estimated period due to the strong growth of the pharmaceutical sector and increasing demand from the mining sector. Developing countries of Latin America and the Middle East & Africa is expected to register a significant growth on account of increasing quarrying and mining activities along with rising construction sector in this region.