Pentaerythritol Market to Grow at 6.8% CAGR thanks to Flourishing Automobile Industry : Transparency Market Research
Transparency Market Research (TMR) has published a report titled “Pentaerythritol Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 – 2018”. According to this report, the global pentaerythritol market was valued at US$1.01 billion in 2011 and is expected to reach US$1.59 billion by 2018, growing at a CAGR of 6.8% from 2012 to 2018.
In terms of volume, the output of the global pentaerythritol market was 485.9 kilo tons in 2011 and is expected to reach 692.9 kilo tons by 2018, growing at a rapid CAGR of 5.3% from 2012 and 2018. The report highlights the primary growth drivers, inhibitors, trends, and opportunities for this market in the coming few years.
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The automotive industry uses pentaerythritol for several applications such as coatings, interiors, and high-grade lubricants. Pentaerythritol is also used in the synthesis of polyurethane foams, which are used in automobile interiors. The booming automobile industries in countries such as India and China are a large contributor to the growth of the pentaerythritol market. The other main growth drivers of the global pentaerythritol market are rising disposable incomes, population growth, and easy loan schemes for cars and homes. The growth of the middle class, burgeoning average income levels, and government schemes are leading to an increasing demand for housing, which in turn is generating a rise in the number of construction sites around the world. As pentaerythritol is a crucial component in all these activities, the growth rate of its market is promising.
The global pentaerythritol market has been segmented on the basis of applications and regions. Applications of pentaerythritol include alkyd paints, alkyd adhesives or sealants, alkyd inks, plasticizers, lubricants, radiation cure coatings, alkyd varnishes, and others such as pesticides and medicines. Geographically, the global pentaerythritol market is divided into North America, Europe, Asia Pacific, and Rest of the World.
Alkyd paints held the biggest market share in terms of volume in 2011, at 37.6%. These paints are used extensively in the construction industry. As the demand for these paints accelerates in Asia Pacific countries such as China and India due to the growth of construction activity, the alkyd paints segment will expand further. Alkyd inks follow alkyd paints closely. Alkyd inks are massively used in interior décor, automobiles, and coatings. The combined market share of alkyd adhesives and sealants and plasticizers was more than 20% in 2011. Out of these, plasticizers are expected to have the fastest growth rate, at a CAGR of 5.9% from 2012 to 2018. Changing lifestyles in countries such as India and China are dictating the applications of pentaerythritol and the growth is this market.
Some of the key players in the global pentaerythritol market are Ercros SA, Celanese Corporation, Hubei Yichang Chemical, and Perstorp Holding AB, Copenor, Mitsui Chemicals, Hunan Hengyang Sanhua, and Lee Chang Kung.
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