Phthalic Anhydride Derivative Market Research Report: By Application (Unsaturated Polyester Resin, Alkyd Resins, Laminating Resins, Plasticizers), By End-Use Industry (Building and Construction, Electrical and Electronics, Automotive, Paints and Coatings), By Product Type (Phthalic anhydride derivatives, Terephthalic acid, Isophthalic acid), By Purity (Standard purity (99.5%), High purity (99.9%), Ultra-high purity (99.99%)) and By Regional (North America, Europe, South America, Asia-Pacific, Middle East and Africa) - Forecast to 2032.

Phthalic Anhydride Derivative Market Overview

As per MRFR analysis, the Phthalic Anhydride Derivative Market Size was estimated at 2.57 (USD Billion) in 2022. The Phthalic Anhydride Derivative Market Industry is expected to grow from 2.67(USD Billion) in 2023 to 3.78 (USD Billion) by 2032. The Phthalic Anhydride Derivative Market CAGR (growth rate) is expected to be around 3.93% during the forecast period (2024 - 2032).

Key Phthalic Anhydride Derivative Market Trends Highlighted

Key market drivers include the increasing demand for phthalic anhydride derivatives in the production of plasticizers, resins, and dyes. Growing urbanization and industrialization in developing countries are also contributing to the market's expansion. Furthermore, the rising use of phthalic anhydride derivatives in the automotive and construction industries is expected to drive market growth.

Opportunities to be explored include the development of new and innovative applications for phthalic anhydride derivatives in various end-use industries. Additionally, the expansion of the market into emerging economies presents significant opportunities for growth.

Recent trends in the phthalic anhydride derivative market include the increasing adoption of eco-friendly and sustainable alternatives to traditional phthalates. This is driven by growing environmental concerns and regulations regarding the use of harmful chemicals. Furthermore, the advancement of technologies is leading to the development of new and improved phthalic anhydride derivatives with enhanced properties and functionalities.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Phthalic Anhydride Derivative Market Drivers

Rising Demand for Phthalic Anhydride Derivatives in Various End-Use Industries

The Global Phthalic Anhydride Derivative Market Industry is primarily driven by the increasing demand for phthalic anhydride derivatives in various end-use industries. Phthalic anhydride derivatives are widely used in the manufacturing of plasticizers, which are essential components in the production of plastics. The growing demand for plastics in industries such as automotive, construction, and packaging has led to a corresponding increase in the demand for phthalic anhydride derivatives.Additionally, the use of phthalic anhydride derivatives in the manufacturing of paints, coatings, and adhesives has further contributed to the market growth. The diverse applications of phthalic anhydride derivatives across numerous industries are expected to continue driving market expansion in the coming years.

Technological Advancements and Innovations in Phthalic Anhydride Derivative Production

Advancements in production technologies and innovations have played a significant role in boosting the Global Phthalic Anhydride Derivative Market Industry. The development of new and improved catalysts has enabled manufacturers to optimize the production process, leading to increased efficiency and cost-effectiveness. Furthermore, research and development efforts have resulted in the creation of new phthalic anhydride derivatives with enhanced properties, expanding the range of applications and catering to the evolving needs of end-use industries. The ongoing focus on innovation and technological progress is anticipated to drive the market growth in the future.

Growing Environmental Concerns and Regulations

Heightened environmental awareness and stringent regulations regarding the use of phthalates have influenced the Global Phthalic Anhydride Derivative Market Industry. Certain phthalates have been associated with potential health and environmental hazards, leading to restrictions on their usage in specific applications. In response to these concerns, manufacturers have shifted their focus towards developing phthalate-free alternatives and exploring sustainable production practices.

Phthalic Anhydride Derivative Market Segment Insights

Phthalic Anhydride Derivative Market Application Insights

The Global Phthalic Anhydride Derivative Market is segmented into various applications, including unsaturated polyester resin, alkyd resins, laminating resins, and plasticizers. Among these, unsaturated polyester resin held the largest market share in 2023, accounting for over 40% of the global revenue. This dominance is attributed to its extensive use in the production of fiberglass-reinforced plastics (FRP), which are widely employed in various industries such as construction, automotive, and marine. Unsaturated polyester resins are characterized by their high strength, durability, and resistance to chemicals and corrosion.They are commonly utilized in the manufacturing of boat hulls, storage tanks, pipes, and automotive body panels. The growing demand for FRP in these end-use industries is expected to drive market growth for unsaturated polyester resins in the coming years. Alkyd resins, another significant application segment, accounted for approximately 25% of the Global Phthalic Anhydride Derivative Market revenue in 2023. Alkyd resins are widely used in the production of paints and coatings due to their excellent adhesion, flexibility, and durability. The increasing demand for architectural and industrial coatings is anticipated to fuel the growth of the alkyd resin segment in the future.Laminating resins, primarily employed in the production of fiberglass-reinforced plastics, held a market share of around 15% in 2023. These resins are used to manufacture high-performance composites that are lightweight, strong, and resistant to corrosion. The growing adoption of laminating resins in the marine, automotive, and construction industries is expected to drive segment growth in the coming years. Plasticizers, which accounted for the remaining market share in 2023, are used to enhance the flexibility and workability of plastics. They are widely employed in the production of flooring, wires and cables, and automotive interiors.The increasing demand for plasticizers in these end-use industries is anticipated to drive segment growth in the future. Overall, the Global Phthalic Anhydride Derivative Market is expected to witness steady growth in the coming years, driven by the increasing demand for its derivatives in various end-use industries.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Phthalic Anhydride Derivative Market End-Use Industry Insights

The Global Phthalic Anhydride Derivative Market is segmented by end-use industry into building and construction, electrical and electronics, automotive, and paints and coatings. The building and construction segment held the largest share of the market in 2023, with a market value of 0.87 Billion USD. This is due to the increasing demand for phthalic anhydride derivatives in the construction industry, particularly in the production of plasticizers for PVC pipes and flooring. The electrical and electronics segment is expected to be the fastest-growing segment of the market, with a CAGR of 4.2% from 2024 to 2032.This growth is being driven by the increasing demand for phthalic anhydride derivatives in the production of electrical insulation and electronic components. The automotive segment accounted for a significant share of the market in 2023, with a market value of 0.61 Billion USD. This is due to the increasing demand for phthalic anhydride derivatives in the production of automotive parts, such as interior trim and exterior coatings. The paints and coatings segment is expected to account for a significant share of the market in 2023, with a market value of 0.59 Billion USD.This is due to the increasing demand for phthalic anhydride derivatives in the production of paints and coatings, particularly in the automotive and industrial sectors.

Phthalic Anhydride Derivative Market Product Type Insights

The Global Phthalic Anhydride Derivative Market is segmented into Phthalic anhydride derivatives, Terephthalic acid, and Isophthalic acid.

Phthalic anhydride derivatives held the largest share of the Global Phthalic Anhydride Derivative Market in 2023 and are projected to continue to dominate the market throughout the forecast period. The market growth is attributed to the increasing demand for phthalic anhydride derivatives in the production of plasticizers, which are used in a wide range of applications, including automotive, construction, and packaging.Terephthalic acid is another important segment of the Global Phthalic Anhydride Derivative Market. It is primarily used in the production of polyester fibers, which are used in the manufacturing of clothing, carpets, and other textiles. The market for terephthalic acid is expected to grow steadily over the forecast period, driven by the increasing demand for polyester fibers in various end-use industries. Isophthalic acid is a smaller segment of the Global Phthalic Anhydride Derivative Market, but it is expected to witness significant growth over the forecast period.Isophthalic acid is used in the production of unsaturated polyester resins, which are used in the manufacturing of fiberglass-reinforced plastics. The market for isophthalic acid is expected to be driven by the increasing demand for fiberglass-reinforced plastics in the automotive, construction, and marine industries.

Phthalic Anhydride Derivative Market Purity Insights

The Global Phthalic Anhydride Derivative Market is segmented by purity into Standard purity (99.5%), High purity (99.9%), and Ultra-high purity (99.99%). High-purity phthalic anhydride derivative is expected to witness the highest CAGR during the forecast period. This is attributed to the growing demand for high-purity phthalic anhydride derivatives in the production of plasticizers, which are used in a wide range of applications such as automotive, construction, and packaging. The Global Phthalic Anhydride Derivative Market revenue for high purity phthalic anhydride derivative is projected to reach USD 1.24 billion by 2028.Ultra-high purity phthalic anhydride derivative is expected to hold a significant share of the market in the coming years due to its increasing use in the production of electronic components and semiconductors.

Phthalic Anhydride Derivative Market Regional Insights

The regional segmentation of the Global Phthalic Anhydride Derivative Market showcases distinct growth trajectories across various geographic regions.

 North America, with its well-established chemical industry and robust demand from end-use sectors, holds a significant market share. In 2023, the regional market was valued at USD 0.96 billion and is projected to reach USD 1.29 billion by 2032, exhibiting a CAGR of 3.6%.

Europe, another prominent market, is driven by stringent environmental regulations and a focus on sustainable manufacturing practices. The region was estimated to account for a market size of USD 0.73 billion in 2023, with a projected growth rate of 3.5% to reach USD 0.98 billion by 2032.

APAC, fueled by rapid industrialization and urbanization in countries like China and India, is poised for significant growth. The regional market was expected to grow from USD 0.61 billion in 2023 to USD 0.87 billion in 2032, representing a CAGR of 3.9%.

South America, with its growing automotive and construction industries, presents a promising market for phthalic anhydride derivatives. The region is anticipated to expand to USD 0.30 billion by 2032.MEA, driven by increasing infrastructure development and economic diversification, offers potential growth opportunities for the market. The regional market is projected to grow from USD 0.19 billion in 2023 to USD 0.27 billion in 2032, exhibiting a CAGR of 3.7%.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Phthalic Anhydride Derivative Market Key Players And Competitive Insights:

Major players in the Phthalic Anhydride Derivative Market industry are focusing on expanding their global presence and diversifying their product portfolios to cater to the evolving needs of customers. Leading Phthalic Anhydride Derivative Market players are adopting various strategies such as mergers and acquisitions, joint ventures, and strategic partnerships to strengthen their market position. The Phthalic Anhydride Derivative Market development is driven by increasing demand from various end-use industries, including construction, automotive, and packaging. The competitive landscape of the Phthalic Anhydride Derivative Market market is expected to remain fragmented, with a significant number of regional and global players operating in the industry.A leading company in the Phthalic Anhydride Derivative Market market is BASF SE, a German chemical company. The company offers a wide range of Phthalic Anhydride Derivative products, including phthalic anhydride, maleic anhydride, and fumaric acid. BASF SE has a strong global presence, with operations in over 180 countries. The company's Phthalic Anhydride Derivative products are used in various applications, including the production of paints, coatings, plastics, and pharmaceuticals.A competitor company in the Phthalic Anhydride Derivative Market market is Lanxess AG, a German specialty chemicals company. The company offers a range of Phthalic Anhydride Derivative products, including phthalic anhydride, maleic anhydride, and adipic acid. Lanxess AG has a global presence, with operations in over 50 countries. The company's Phthalic Anhydride Derivative products are used in various applications, including the production of plastics, coatings, and adhesives.

Key Companies in the Phthalic Anhydride Derivative Market Include

• SABIC


• LyondellBasell Industries Holdings


• DSM


• Mitsui Chemicals


• Synthomer


• Lanxess


• Lubrizol


• Ashland Global Holdings


• Chevron Phillips Chemical Company


• Eastman Chemical Company


• Evonik Industries


• Huntsman Corporation


• Dow Chemical Company


• BASF


• INEOS Group

Phthalic Anhydride Derivative Market Industry Developments

The Phthalic Anhydride Derivative Market is anticipated to reach USD 3.78 billion by 2032, exhibiting a CAGR of 3.93% during the forecast period. Rising demand from the construction industry, particularly in developing regions, is driving market growth. Phthalic anhydride derivatives are widely used in the production of plasticizers, which are essential components in the manufacturing of polyvinyl chloride (PVC) pipes, flooring, and other construction materials. Additionally, increasing urbanization and infrastructure development projects are contributing to the growing demand for phthalic anhydride derivatives.Recent advancements in technology have led to the development of bio-based phthalic anhydride derivatives, which offer sustainable alternatives to traditional petrochemical-based products. This has opened up new opportunities for market growth, especially in regions with strong environmental regulations.

Phthalic Anhydride Derivative Market Segmentation Insights

Phthalic Anhydride Derivative Market Application Outlook

• Unsaturated Polyester Resin


• Alkyd Resins


• Laminating Resins


• Plasticizers

Phthalic Anhydride Derivative Market End-Use Industry Outlook

• Building and Construction


• Electrical and Electronics


• Automotive


• Paints and Coatings

Phthalic Anhydride Derivative Market Product Type Outlook

• Phthalic anhydride derivatives


• Terephthalic acid


• Isophthalic acid

Phthalic Anhydride Derivative Market Purity Outlook

• Standard purity (99.5%)


• High purity (99.9%)


• Ultra-high purity (99.99%)

Phthalic Anhydride Derivative Market Regional Outlook

• North America


• Europe


• South America


• Asia-Pacific


• Middle East and Africa