Pune, India, Oct 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Pentaerythritol Market.
The global pentaerythritol market share is likely to attain a global CAGR of 5.7% during the ongoing forecast period of 2023 - 2030. The global pentaerythritol market was valued at USD 559.36 million in 2021 and is projected to reach USD 6.8 Billion by the end of 2030.
Pentaerythritol is a synthetic polyhydric alcohol with four primary hydroxyl groups that is white crystalline powder. Because of their compact structure and high density of hydroxyl groups, they have high and efficient physical properties. Pentaerythritol is used in the manufacture of alkyd resin, pentrinitrol, normosterol, and other polymer cross-linking agents..
The expansion of paints & coatings industry worldwide due to its relatively large-scale consumption across automotive and construction industry verticals.Which is expected to generate significant demand for Pentaerythritol products, over the forecast period. However, volatile raw material prices are expected to limit raw material availability and affect market growth in the upcoming period.
Asia-Pacific held the largest share of 37.0% due to rapid development in the infrastructure and construction sector. The market was valued at USD 206.89 million in 2020 and is expected to reach USD 328.79 million with a 6.27% CAGR by the end of 2030. Also significant growth in the automotive industry is driving market positively.
The major players in the market Celanese Corporation, Perstorp Holding AB, Ercros S.A., Merck KGaA, Hubei Yihua Group Co., Ltd., MITSUI BU+SAN CHEMICALS Co., Ltd., U-JIN Chemical Co., Ltd., Samyang Chemical Corporation, Methanol Chemicals Company, Kanoria Chemicals & Industries Limited, and Jiangsu Ruiyang Chemical Co., Ltd.
- PAINTS & COATINGS: Pentaerythritol is widely used as a raw material in the production of alkyd resins coatings, mainly used in architectural coatings and automotive primer. It is also used in the manufacturing of high-quality oil-based surface coatings. It is used for the production of highly cross-linked coating using four hydroxyls and can improve the hardness, luster, and durability of the coating film. The segment demand can be attributed to the exceptional properties offered by pentaerythritol, such as it enhances the drying speed, hardness, and water resistance of alkyd paints.
- PLASTICIZERS: Plasticizers or dispersants are additives that increase the plasticity or fluidity of the material to which they are added; these include plastics, cement, concrete, wallboard, and clay. Pentaerythritol is used as a raw material in the production of plasticizers such as pentaerythritol ester, Pentaerythritol tetravalerate, etc.
- LUBRICANTS: Synthetic lubricant is used as a substitute for lubricant refined from petroleum when operating in extreme temperatures, because it generally provides superior mechanical and chemical properties than those found in traditional mineral oils. Pentaerythritol esters offer better thermal stability and adsorbed strongly onto metal surfaces to control corrosion of the metal and provided superior boundary lubricity. Further, the high demand for eco-friendly lubricants in automotive and aircraft applications drives the demand for the segment.
- ADHESIVE & SEALANT: Rosin, an ester of pentaerythritol, is widely used as a component of adhesives, rubbers, and inks and as an emulsifier. Penta-based acrylates such as pentaerythritol tetraacrylate and ethoxylated pentaerythritol tetraacrylate exhibit increased cross-linking and high reactivity and offer good flexibility and excellent adhesion. Pentaerythritol is widely used in the production of adhesives and hot-melt adhesives.
- INKS: Ink is a liquid that contains pigments and/or dyes and is used to color a surface to produce an image, text, or design. Pentaerythritol is used in the production of alkyl inks. Rosin and tall oil rosin, an ester of pentaerythritol, are used to print inks.
- VARNISHES: Varnish is a transparent, hard, protective finish or film primarily used in wood finishing and other materials. Varnish is traditionally a combination of drying oil, a resin, and a thinner or solvent. Pentaerythritol is used in the production of alkyd varnishes.
- OTHERS: The others segment includes stabilizers, pigment treatment, antioxidants, and explosives, amongst others
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- North America: In North America, The US is the leading country in the region owing to the established presence of paints & coatings manufacturers in the region The US accounted for a significant share of the Pentaerythritol market in North America and is expected to register a CAGR of 5.29% during the review period
- Europe: The market in Europe is primarily driven by the demand for Pentaerythritol in automotive applications. In 2020, Germany accounted for the largest share in Europe and was followed by UK.
- Asia Pacific: Asia-Pacific dominated the global market with a value share of 99% in 2020 . The market growth can be attributed to the growing construction and Moreover, the construction of residential and commercial buildings in developing countries has increased due to the growing population and rapid urbanization, particularly in China.
- Latin America: The Latin American market is divided into Brazil, Mexico, and Argentina are the major contributors in the region. This surge in demand is largely associated with the increasing production of wood panels, laminates, MDI, and pentaerythritol.
- Middle East & Africa: IN Middle East & Africa GCC countriesare the leading in the region followed by Turkey and Egypt.The growth in the region can be associated with the growing construction industry and others.