Pentaerythritol Market Market Size and Forecast | Key Companies – Mitsui Chemicals, Inc (Japan), Ercros S.A (Spain), Methanol Chemicals Company (Saudi Arabia)
Pentaerythritol
Market – Overview
The resurgence of the surface
coating industries is a prominent factor in
boosting the development of the market for pentaerythritol. Market reports
connected with the chemicals and materials industry have been made available by
Market Research Future which generates reports on other business verticals that
outlines the current market scenarios. The market is set to achieve an
excellent CAGR rate in the duration of the forecast period.
It’s characteristics such as low
volatility and the high flash point are
essential to the development of a varied product range in the market. The
availability of a strong product portfolio has been essential to the
development of the pentaerythritol market in recent
years. Its application in inks, paints & coatings, adhesive & sealant,
lubricants and plasticizers is expected
to provide a much needed leverage for
market growth in the upcoming forecast period.
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Segmental Analysis
The segmentation of the
pentaerythritol market is segmented on the basis of application and region. Based
on application, the pentaerythritol market is
segmented into plasticizers, paints & coatings, adhesive &
sealant, varnishes, lubricants, inks, and others. The other application consists
of flame retardants, pesticide, medicine, and explosives. On the basis of the regions, the
pentaerythritol market is segmented into
North America, Latin America, Asia Pacific, Europe, Middle East, and Africa.
Detailed Regional Analysis
The regional analysis of the
pentaerythritol market encompasses regions such as Europe, Latin America, North
America, Asia Pacific, Africa, and the
Middle East. The Asia Pacific region is forecasted to expand at the highest
CAGR through the forecast period due to the constant expansion in various
end-use industries such as agriculture, building & construction,
transportation & automotive and plastic industry among others. The demand
for pentaerythritol is expected to boost in various countries in the Asia
Pacific region such as China, South Korea, the Philippines, India, Australia
and Taiwan owing to the rising population along with improving consumption of
pesticide to make high-quality crops. Furthermore, rising disposable income
along with increasing production and sales of automotive vehicles is estimated
to impel the market development in this region. In
addition, inexpensive labor and land cost, reduced production set up
cost, and reasonably stringent regulatory framework are some of the essential
factors in the growth of the regional market.
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The European region has emerged as
the next big market for pentaerythritol in 2016 followed by North America.
European countries such as France, the U.K, Germany, Italy, and Russia are
among the leading contributors to the regional market growth owing to the
fortified presence of automotive manufacturers along with growing innovation
and R&D activities to create bio-based lubricants. The North American
region is expected to see profitable growth in pentaerythritol market due to
the recovery of the industrial sector
along with escalated expenditure on the renovation & maintenance of
construction sector during the forecast period. The U.S. is forecasted to hold
over two-thirds regional market share and is foreseen to continue its control
due to the growing pharmaceutical sector along with increasing offshore and
onshore activities. In Latin America, nations such as Brazil, Argentina,
Colombia, and Venezuela are anticipated to witness steady development due to
the strong consumer base for automotive & transportation sector.
Competitive Analysis
The competitors in the market are
attempting to establish various leaderships that will enable them to capture a
more significant share of the market. Product differentiation has created a
favorable product differentiation scenario that is complementing the market’s growth.
Moreover, the vertical integrations and product strategies of the market is
increasing the prospects for the market players. Better accessibility to
diverse resources and capabilities is expected to impel the growth of the
market in the coming forecast period. The employment of effective strategy
execution techniques is anticipated to bear positively on the future growth of
the market. The analysis of the market reveals that it is poised for a high growth rate in the forthcoming years.
The significant competitors in the
pentaerythritol market globally are Perstorp Holding AB (Sweden), Mitsui
Chemicals, Inc (Japan), Ercros S.A (Spain), Methanol Chemicals Company (Saudi
Arabia), Kanoria Chemicals & Industries Limited (India), Merck KGaA
(Germany), Hubei Yihua Group Co.,Ltd (China),
Samyang Chemical Corporation (South Korea), Celanese Corporation
(U.S.),Jiangsu Ruiyang Chemical Co., Ltd. (China), U-JIN Chemical Co., Ltd
(South Korea) among others.
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