The global phthalic anhydride market is a matured one with almost no product differentiation, making the market competition more severe. Phthalic anhydride derived products find their applications in various industries such as plastics, paints & coatings, electrical & electronics, automotive, and others. The companies engaged in the production of phthalic anhydride are BASF (Germany), Shandong Hongxin (China), Nan-Ya Plastics (Taiwan), ExxonMobil Chemical (U.S.), Aekyung Petrochemical (Japan), IG Petrochemicals (India), Polynt SPA (Italy), and Koppers Industries (U.S.). Plasticizers are used to provide flexibility and long life to PVC, unsaturated polyester for lamination and specialty coatings while alkyd resins are used in solvent-borne coatings.
The global phthalic anhydride market saw some significant developments in the form of capacity expansion by the manufacturers in 2011. However, there were not many strategically important activities that took place in the last two years within the industry. Some manufacturers, such as Polynt (Italy) and Atmosa Petrochemie (Austria) resumed their production capacity after undergoing some plant maintenance activity during the last quarter of 2012. Aekyung Petrochemical (Japan), BASF (Germany), and Elekeiroz (Brazil) are expanding their capacities to increase the production of phthalic anhydride derivatives such as plasticizers and unsaturated polyester resins. In terms of capacity expansion, only IG Petrochemicals has announced its plans to increase its phthalic anhydride production capacity by the first quarter of the financial year 2013-2014.
The phthalic anhydride industry is highly fragmented, i.e., there are too many manufacturers for the same product, which decreases the market share of key players and hence their penetration. In terms of production capacity, BASF, Shndong Hongxin, and Nan-Ya Plastics are the top players in the industry. Other players holding significant share are ExxonMobil Chemical, Aekyung Petrochemical, and IG Petrochemicals. However, the threat of new entrants is high. Easy availability of manufacturing technology and declining profit margin are the key areas affecting the entry of new players in this market. The increasing demand of polyester polyols form phthalic anhydride is expected to create opportunities for new players to enter into the market.
Phthalic Anhydride and Derivatives (Plasticizers, Unsaturated Polyester Resins, and Alkyd Resins) Market by Application & Geography - Trends & Forecast to 2018
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