Pentaerythritol Market Research Report Information By Application,PAINTS & COATINGS, Plasticizers,Lubricants, Adhesive & Sealant, Inks, Varnishes, Others, Region (North America, Europe, Asia-Pacific, South America, Middle East , Africa) Forecast 2030

Pentaerythritol Market Overview

The global Pentaerythritol market share is likely to attain a global CAGR of 5.86% during the ongoing forecast period of 2019-2030. The global Pentaerythritol market was valued at USD 565.44 million in 2021 and is projected to reach USD 942.9 million by the end of 2030.

Pentaerythritol or 2,2-bis(hydroxymethyl)propane-1,3-diol is an odorless white, crystalline, solid organic compound. It is tetrahydric neopentyl alcohol with the chemical formula C5H12O4 and is non-hygroscopic, non-volatile, and stable in air. It is predominantly used in the surface coating industries. Moreover, it is used for manufacturing synthetic drying oils by esterification reaction and other reactions with fatty acid esters. It possesses excellent properties such as low volatility and high flash point, making it an ideal substitute for dielectric fluids in the transformer. It exhibits superior properties such as water resistance, luster, flexibility, and alkali resistance. Therefore, it is widely used in a range of applications such as adhesive & sealant, inks, paints & coatings, plasticizers, lubricants, varnishes, and others. Other applications include medicine, flame retardants, pesticide, and explosives.

However, the volatile raw material prices might affect the supply chain, and thus the can affect the Pentaerythritol market.   .

COVID-19 Impact on the Pentaerythritol Market:

The outbreak of the COVID-19 pandemic has significantly impacted several sectors globally. Companies that serve booming industries, such as technology, healthcare, and home repair and remodeling, have seen a significant boost in demand. In contrast, those that provide components for underperformers, such as aviation, energy, and the automobile industry, have seen a decline in demand. Almost all manufacturers, however, have seen supply chain interruptions.

COVID-19 has upended numerous consumer behaviors and disrupted value chains. Businesses and governments concentrated on safeguarding people and developing methods to recover from deep health, economic, and social shock in the early months of the crisis.

Epidemics are discrete market problems and opportunities for new trends and deficiencies. In contrast to decreasing global threats, companies investing in political, business, and financial stability will adopt better strategies to resolve the pandemic situation.

Market Dynamics

• Demand from plasticizers application in the growing construction industry: Pentaerythritol is used across the ever-growing construction industry with is high demand for plastisizers. As defined by ASTM, a plasticizer is a substance incorporated into a plastic or elastomer to increase its flexibility, workability, or distensibility. Plasticizers such as admixtures or dispersants are substances that are added to materials such as cement mortar mixes, plasters, and concrete to decrease the viscosity and plasticity and enhance workability and performance. Plasticizers enhance the workability by retarding the mortar from the setting and providing air entrainment to assist workability. They can also help prevent mortar cracks and shrinkage. Thus, The growth of the construction industry in the emerging economies of Asia-Pacific is likely to favor global market growth.


• Eco-friendly properties of pentaerythritol: Pentaerythritols are white solids used for various applications, including paints, appliances, and cosmetics. They are also used in synthetic lubricants, polyvinyl chloride (PVC) stabilizers, radiation cure monomers, rosin esters, polyurethanes, antioxidants, pigment treatment, explosives, and alkyd resins. The manufacturers of all these products are highly inclined to provide organic and environmentally friendly products due to the growing consumer awareness towards eco-friendly and biodegradable products. In combination with esters and acids, pentaerythritol forms an eco-friendly product that is used across its numerous applications; for instance, Rosin pentaerythritol ester (RPE), a modified rosin product extracted by the esterification of pentaerythritol and rosin acid. They are environmentally friendly multifunctional additives which are used in vegetable oil-based lubricant. It helps to increase the viscosity of the lubricant. Thus, manufacturers’ inclination towards green chemicals is expected to augment the growth of the pentaerythritol market during the coming years.

• Volatile raw material prices: Pentaerythritol is a crystalline industrial alcohol widely used in many chemical industries as basic raw material. The main raw materials are formaldehyde and acetaldehyde. The prices of formaldehyde have been fluctuating in Asia-Pacific and North America throughout the past decade. This has hampered the manufacturers’ prices of pentaerythritol, as major pentaerythritol producers are located in North America and in the Asian region. Thus, owing to these fluctuations in raw material prices and its deficit compared to its demand are some of the major factors expected to affect pentaerythritol prices, and thereby the global market, in the coming years.

• The demand for high-quality lubricants from the automotive industry: Pentaerythritol esters are majorly used in manufacturing high-grade automotive lubricants owing to their thermal stability, hydrolytic resistance, and viscosity control. Pentaerythritols are also used in the synthesis of PU foams that are used in the exteriors and interiors of the vehicles, including seat cushions, dashboards, door handles, bumpers system gear knobs, interior trims, and others. Thus, the use of PU foams and synthetic lubricants in the automobile industry, coupled with the constant growth in the sale of automobiles, will fuel the consumption of pentaerythritol during the forecast period.

• Increasing scope of application of formaldehyde and acetaldehyde: Pentaerythritols are prepared by condensing formaldehyde (CH2O) and acetaldehyde (CH3CHO) in an aqueous solution in the presence of a strongly basic hydroxide, such as sodium hydroxide. Formaldehyde, due to its relatively low cost, high variety of chemical reactions, and high purity, coupled with its environmentally friendly nature they have become the most valuable industrial and research chemicals. Additionally, acetaldehydes are used in the production of polyester resins, basic dyes, and perfumes. They are used as preservatives and flavoring agents, as a denaturant for alcohol, fuel compositions, hardening gelatin, and as a solvent in the rubber, tanning, and paper industries. Thus, the vast application of acetaldehyde is expected to create a trend for the pentaerythritol market in the coming years.

Segmentation

By Application

• PAINTS & COATINGS


• Plasticizers


• Lubricants


• Adhesive & Sealant


• Inks


• Varnishes


• Others

By Region

• North America


• Europe


• Asia-Pacific


• South America


• Middle East


• Africa

Regional Analysis

Asia-Pacific dominated the global market with a value share of 37.0% in 2020 and is projected to register the highest CAGR of 6.% to reach USD 368.1 million by the end of 2030. The market growth can be attributed to the growing urbanization and increasing demand in the paints & coatings industry, especially in the emerging economies of Asia-Pacific, particularly in China, India, Japan, and Southeast Asian countries. China is the leading producer and consumer of Pentaerythritols in Asia-Pacific, accounting for about 31.77% value share of the regional market in 2020. The growing industrial base and population in China is the prime factor propelling the market growth. The Pentaerythritols market in India is expected to register a CAGR of 6.55% during the forecast period.

The market in Europe is primarily driven by the demand for Pentaerythritols in automotive applications. In 2020, Germany accounted for the largest share in Europe and was followed by UK. The North American market accounted for the third-largest share in 2020 and is projected to record a CAGR of 5.18% during the review period. The established presence of paints & coatings and automotive industries in the region is the prime factor propelling the growth of the Pentaerythritols market in North America. The US accounted for a significant share of the Pentaerythritols 86.65% market in North America and is expected to register a CAGR of 5.29% during the review period. The growth of markets in Latin America and the Middle East & Africa are likely to be driven increasing production of wood panels, laminates, MDI, and pentaerythritol.

Competitive Landscape

Asia-Pacific led the global Pentaerythritols market in forecast period and is moderately fragmented in the region. The industry is likely to become more competitive as partnerships, mergers, and acquisitions increase. Furthermore, a growing number of players will enter the market within the estimated assessment period, boosting competition in the market.

The major players in the market include 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.

The global pentaerythritol market is likely to witness moderate to high intensity of competitive rivalry as the global market is fragmented with the presence of a significant number of tier-1, tier-2, and tier-3 players. There are established consumer bases in each region with wide distribution networks to cater to the demand from end users. Furthermore, long-term contracts with buyers ease the competition to some extent. A certain degree of competition exists among the participants based on the variety and relative price of the product. However, it has shown steady growth in terms of consumption. The market is heading toward expansion, wherein the industry players are, specifically, focusing on capacity expansion. To match with the current and anticipated rise in terms of demand, collective alliances among industry players are expected to be seen over the coming years. As per the industry experts, acquisition and expansion are the widely adopted strategies by prominent players.

Report Overview:

The global pentaerythritol market is segmented by application and region in the report. In terms of insights, this report has focused on various levels of analysis such as market dynamics, value chain analysis, Porter's five forces, competitive landscape, and company profiles—all of which comprise and discuss views on the global Pentaerythritol emerging and fast-growing segments, regions, and countries.

Objectives of the Study

• To provide a detailed analysis of the market structure along with a forecast for various segments of the global pentaerythritol market


• To provide insights into factors affecting the market growth


• To analyze the global pentaerythritol market based on various tools such as supply chain analysis and Porter’s five forces analysis


• To provide historical and forecast revenue of the market segments and sub-segments with respect to respect to regions and their respective key countries


• To provide country-level analysis of the market with respect to the current market size and prospects


• To provide segment-level analysis of the market for type, application, and region


• To provide strategic profiling of the key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape of the market


• To track and analyze competitive developments such as expansions, new product launches, and research and developments in the global Pentaerythritol market.

Intended Audience

• Industrial sector


• Broadcast sector


• Enterprise sector


• Digital communication