Pentaerythritol Market Key Players, Competitive Landscape, Growth, Statistics, Revenue, and Industry Analysis Report

 Market Overview:

Pentaerythritol is an organic compound that works as a versatile building block for preparation of various polyfunctionalized compounds. Its derivatives are extensively utilized for the production of transformer oil, paints, plastics, cosmetics, and others compounds. Market Research Future (MRFR) has published a report asserting that the global pentaerythritol market is marked to expand at a moderate growth rate during the forecast period of 2023-2028.

Market Drivers and Restraints:

Rapid expansion of automotive industry and increased infrastructural development in the developed and developing regions are inducing high demand for paints and coatings, transformer oils and other products derived from pentaerythritol, which in turn is primarily contributing to the expansion of the global pentaerythritol market. Increased production of automotive in order to fulfill the high global demand, rapid industrialization and rise in building and construction activities as a result of increasing global population are also fueling the growth of the global pentaerythritol market. Increased mining and quarrying activities are inducing demand for high-quality lubricants for mining equipment and have led to the increased consumption of explosives, resulting in the expansion of the global pentaerythritol market. However, shortage of supply caused due to rise in demand for formaldehyde and acetaldehyde is acting as a restraining factor for the growth of the global pentaerythritol market during the forecast period.

Market Segmentation:

The global pentaerythritol market is segmented on the basis of application. Based on application, the pentaerythritol market has been segmented into plasticizers, lubricants, paints coatings, adhesive sealants, inks, varnishes, flame retardants, medicine, pesticide, and explosives. The plasticizers segment is anticipated to register fastest growth in the global pentaerythritol market owing to the increased demand for high performance polymers with properties such as chemical resistance, fire resistance, and others.

Regional Analysis:

Geographically, the global pentaerythritol market has been segmented into five major regions such as North America, Latin America, Asia Pacific, Europe and the Middle East and Africa. The Asia Pacific region is anticipated to register fastest growth in at the highest growth rate in the global pentaerythritol market owing to the rapid expansion of various end-use industries such as transportation, automotive, building, and construction, agriculture, plastic, and others. The high demand for pentaerythritol in the countries like India, China, South Korea, Japan, Australia, Taiwan, and others is contributing to the rapid expansion of the pentaerythritol market in the Asia Pacific region.

Increased production and export of automobiles in the well-developed automotive sector and growing expenditure on renovation and maintenance of old constructions in the building and construction sector are propelling the growth of the pentaerythritol market in the Europe region. Increasing globalization and industrialization and proliferation in automotive manufacturers are leading to the significant growth of the pentaerythritol market in the North America region. Increasing building and construction activities as a result of infrastructural development initiatives in Saudi Arabia, Kuwait, UAE, and Turkey are leading to the substantial growth of the pentaerythritol market in the Middle East and Africa region.

Competitive Dashboard:

The major players profiled by MRFR that are operating in the global pentaerythritol market are Celanese Corporation (the U.S.), Perstorp Holding AB (Sweden), Ercros S.A (Spain), Merck KGaA (Germany), Hubei Yihua Group Co.,Ltd (China), Mitsui Chemicals, Inc (Japan), Kanoria Chemicals Industries Limited (India), Samyang Chemical Corporation (South Korea), Methanol Chemicals Company (Saudi Arabia), Jiangsu Ruiyang Chemical Co., Ltd. (China), U-JIN Chemical Co. Ltd. (South Korea) and others. The players in the global pentaerythritol market are focusing on the expansion of their businesses by undergoing strategic mergers and acquisitions and investing to increase the production capacities in order to sustain the competition and fulfill the growing need in the global market. For instance, in November 2018, Perstorp, one of the leading manufacturers of specialty chemicals, has announced that it has increased the production capacity for di-pentaerythritol by up to 40 percent.

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.

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