Pentaerythritol or 2,2-bis(hydroxymethyl)propane-1,3-diol is an odorless white, crystalline, solid organic compound. It is tetrahydric neopentyl alcohol with 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 reaction with fatty acid esters. It possesses excellent property such as low volatility and the high flash point, which make 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, rise in the demand for formaldehyde and acetaldehyde for various application led to their shortage of supply, which is expected to hamper the growth of the market.
Market scope and Structure AnalysiCovid-19 Impact Analysis
- The coronavirus's unfavorable global effects are already evident, and they will have a big impact on the pentaerythritol market in 2020.
- The World Health Organization has declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in massive deaths all across the world. Exports & Imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
- The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy's already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
- The lockdown has resulted in hampering the imports and exports of various goods. Also, the uncertainty created in the market in the consumers’ buying pattern has resulted in hampering of the pentaerythritol market.
Top Impacting Factors
Emerging innovative applications of pentaerythritol such as marine coatings and therapeutics are expected to provide vast opportunities for the major players operating in the global pentaerythritol market. Development of new products along with the growth of niche application market segments such as flame retardants and explosives is expected to create new market opportunities for the pentaerythritol market participant. Furthermore, alkyd paint is one of the main applications of pentaerythritol, which is expected to boost further opportunities in the pentaerythritol market in the forecast period. Alkyd paints find applications in residential as well as industrial construction. Applications of pentaerythritol in plasticizers are expected to be the fastest growing.
- Increased usage in Automobile Industry is a key driver for the market.
- Extensive utilization of pentaerythritol in the automotive industry is one of the key factors driving the growth of the market. In this industry, pentaerythritol is used in the manufacturing of automotive lubricants and polyurethane foams that are integrated into vehicle interiors and door handles, bumper systems, gear knobs, dashboards and seat cushions. Furthermore, the increasing demand for formaldehyde and acetaldehyde substitutes in the production of paints, coatings, alkyd adhesives, plasticizers, radiation-cured coatings and industrial inks and synthetic rubber is also providing a boost to the market growth.
- Growing demands in the Asia-Pacific region is helping the market to prosper.
- Asia-Pacific region is expected to dominate the market for pentaerythritol during the forecast period. The rising demand of pentaerythritol from paints, coatings and growing application in automotive sector in developing countries like China, Japan and India is expected to drive the demand for pentaerythritol in this region. China’s real estate sector has been growing rapidly with increased investment by the government. The government initiatives, such as the Housing for All by 2022 act, are going to change the dynamics of the construction industry in India. Owing to the above-mentioned factors, the market for pentaerythritol in the Asia-Pacific region is projected to grow significantly.
- Growing awareness regarding environment is also helping the market expansion.
- Pentaerythritol esters are an environment friendly substitute for fluids that are electrically transformed as they are biodegradable and less hazardous in water. Properties such as high flash point and low volatility offer resistance to ignition and make pentaerythritol an ideal substitute for dielectric fluids used in transformers.
Key Benefits of the Report
- This study presents the analytical depiction of the pentaerythritol market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the pentaerythritol market share.
- The current market is quantitatively analyzed to highlight pentaerythritol market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed pentaerythritol market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Pentaerythritol Market Report
- Who are the leading market players active in the Pentaerythritol Market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is “Pentaerythritol Market “?
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- What is " Pentaerythritol Market” Market prediction in the future?
- Who are the leading global players in the “Pentaerythritol Market” market?
- What are the current trends and predicted trends?
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- What are the key benefits of the “Pentaerythritol Market “Market report?
- What will be the anticipated growth rates for your own Pentaerythritol Market economy altogether and for every segment inside?
- What are the driving factors and opportunities in the market?
Pentaerythritol Market Report Highlights
Key Market Players
Shandong Laiyi International Trading Co., Ltd., Kemira, AkzoNobel, BASF, Eastman Chemical, Sanyo Chemical Industries, Showa Denko K. K., Mitsubishi Chemical, Niacet, Arkema