Albany, NY, June 01, 2014 --(PR.com
)-- Pentaerythritol market was valued at USD 1.01 billion in 2011 and is expected to reach USD 1.59 billion by 2018, growing at a CAGR of 6.8% from 2012 to 2018. In terms of volume, global consumption was 485.9 kilo tons in 2011 and is expected to reach 692.9 kilo tons by 2018, growing at a CAGR of 5.3% from 2012 to 2018.
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Pentaerythritol is majorly used for manufacturing alkyd paints which has been a key contributor to its market growth in recent times and owing to the growing infrastructure market mainly in Asia Pacific, this trend is expected to continue over the forecast period. In addition, eco-friendly nature of pentaerythritol has been gaining regulatory support as a non-hazardous and sustainable product for end-users. Furthermore, emerging innovative applications of pentaerythritol such as therapeutics and marine coatings are expected to provide immense opportunities for the major players operating in the global market. However, limited availability of raw materials such as formaldehyde and acetaldehyde due to overlapping with their other commercial applications is expected to inhibit the market growth.
Alkyd paint was the largest application segment for pentaerythritol and accounted for over 37% of the total market in 2011. Alkyd paint application is expected to grow at a CAGR of 5.5% over the forecast period. These paints find applications in residential as well as industrial construction. Applications of pentaerythritol in plasticizers are expected to be the fastest growing applications and are projected to grow at a CAGR of 5.9% from 2012 to 2018.
Asia Pacific emerged as the leading consumer for pentaerythritol and accounted for over 40% of the total demand in 2011. Asia Pacific along with being the biggest market is also expected to be the fastest growing market for pentaerythritol at a CAGR of 5.7% from 2012 to 2018. The growth of the construction and automobile industry, especially in China and India is propelling the growth of pentaerythritol in this region. Europe is expected to show significant growth at a CAGR of 6.4% over next five years, in terms of revenue. The demand for pentaerythritol for alkyd paints in North America is expected to reach a market worth USD 88.7 million by 2018, growing at a CAGR of 5.9% from 2012 to 2018.
Some of the key companies operating in the global pentaerythritol market include Celanese Corporation, Ercros SA, Hubei Yichang Chemical, Mitsui Chemicals and Perstorp Holding AB. There are also several small companies such as Copenor, Hunan Hengyang Sanhua and Lee Chang Kung among others operating in the global and the regional market.
The report segments the global pentaerythritol market as:
Pentaerythritol Market: Application Analysis
· Alkyd paints
· Alkyd inks
· Alkyd adhesives/sealants
· Alkyd varnishes
· Radiation cure coatings
· Other (including medicine, pesticides, etc)
Pentaerythritol Market: Regional Analysis
· North America
· Asia Pacific
· Rest of the World
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