Market Research Future Published a Half Cooked Research Report on Global Pentaerythritol Market.
Pentaerythritol (C5H12O4) is a white, crystalline powder, which contains four hydroxyl groups and is derived from aldol condensation process of acetaldehyde and formaldehyde. Derivatives of pentaerythritol such as pentaerythritol tetranitrate, pentaerythritol tri-acrylate, pentaerythritol esters, and dipentaerythritol are used in the production of explosives, paints, inks, and others. Pentaerythritol finds wide usage in various ends use applications such as lubricants, inks, adhesive & sealant, paints & coatings, plasticizers, varnishes, and others on account of their superior adhesion, weather & chemical resistance, high melting point, and high flash point.
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Some of the prominent factors that positively influence the growth of the pentaerythritol market are increasing consumption in the production of lubricants, growing urbanization, and improved living standard. Moreover, booming building & construction sector along with increasing consumption of pentaerythritol-based adhesive & sealant is estimated to drive the growth of the market over the forecast period 2017-2023. Increasing mining activities to extract minerals along with rising consumption of pentaerythritol-based explosives is estimated to propel the growth of the market in various economies across the globe. Increasing middle-class population along with government initiatives such as housing for all and cheaper loans in developing countries has driven the construction sector which is likely to propel the growth of the market during the review period.
The major players operating in the pentaerythritol are Celanese Corporation (U.S.), Perstorp Holding AB (Sweden), Ercros S.A (Spain), Merck KGaA (Germany), Hubei Yihua Group Co.,Ltd (China), Mitsui Chemicals, Inc (Japan), Samyang Chemical Corporation (South Korea), Methanol Chemicals Company (Saudi Arabia), Kanoria Chemicals & Industries Limited (India), Jiangsu Ruiyang Chemical Co., Ltd. (China), U-JIN Chemical Co.,Ltd (South Korea) among others.
The global pentaerythritol market is further classified on the basis of the application, and region. On the basis of the application, the market is segmented into paints & coatings, plasticizers, lubricants, adhesive & sealant, inks, varnishes, and others. Other application of pentaerythritol includes medicine, pesticide, flame retardants, and explosives. Among them, paints & coatings accounted for the largest market share in 2016 and is estimated to hold around 39% of the total application market share. The factors behind the segmental growth are rising automotive production and sales, increasing consumption of high-quality paints & coatings in the construction and transportation sector. Adhesive and sealant application segment is expected to register healthy growth over the assessment period at a healthy CAGR due to increasing various rail-road construction projects in emerging economies across the globe. Furthermore, increasing health-related awareness coupled with the continuous growth of the pharmaceutical & healthcare sector in developed and developing countries is estimated to drive the growth of the market over the assessment period. Rising innovation and R&D activities to develop bio-based polyols along with stringent regulations regarding solvent-based coatings is estimated to give new momentum to the growth of the market.
The Asia Pacific is estimated to be the largest pentaerythritol market in 2016, which is further followed by Europe and trailed by North America on account of growing demand from paints & coatings, lubricants, and adhesive & sealants among others. In Europe, Italy, Germany, and France are estimated to capture the largest market share and is projected to retain their dominance owing to rising demand from automotive & other transportation manufacturers. In North America, the U.S. and Canada are among the leading contributors to the regional pentaerythritol market and is estimated to retain their dominance over the estimated period due to the strong growth of the pharmaceutical sector and increasing demand from the mining sector. Developing countries of Latin America and the Middle East & Africa is expected to register a significant growth on account of increasing quarrying and mining activities along with rising construction sector in this region.
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