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Pentaerythritol Market size is forecast to reach US$2.7 billion by 2027 after growing at a CAGR of 5.5% during 2022-2027.

HYDERABAD, TELANGANA, INDIA, January 9, 2023 /EINPresswire.com/ -- Pentaerythritol Market size is forecast to reach US$2.7 billion by 2027 after growing at a CAGR of 5.5% during 2022-2027. Pentaerythritol is a white crystalline, odorless, Polyhydric alcohol containing four primary hydroxyl groups. It is an organic compound in powder form used in the production of explosives, plastics, Synthetic lubricants, paints, appliances, and cosmetics and acts as a flame retardant. According to Plastic Europe 2020, 2019, global plastics production is around 370 million tonnes and 58 million tonnes in Europe in 2019 whereas 359 million tonnes of global plastic production in 2018. Pentaerythritol is also used in household appliances like television, mixer grinder, washing machine, and others owing to the use of long-lasting coating on different products. According to the Association of Home Appliance Manufacturer USA, 46% of the consumer has changed air cleaner to improve air quality and 55% of the sales of home appliances was via online in 2020. Therefore the growing plastic and home appliances production will boost the Pentaerythritol Market during the forecast period.

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Key takeaways:

This IndustryARC report on the Pentaerythritol market highlights the following areas -

1. The Asia Pacific is expected to register a CAGR of 6.8% during the forecast period (2022-2027). The increasing demand for paints & coatings for building and construction in Asian countries such as China, India, Japan, and South Korea is driving the market demand for Silicone sealants.

2. Pentaerythritol is used as a fire retardant in plastics and produces a thick carbon barrier upon heating, protecting the surface, and one of the most common main active components in the production of paints and coatings are helping in the growth during the forecast period.

3. Pentaerythritol helps in the production of eco-friendly paints & coatings, cosmetics, and others drive the market during the forecast period

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Segmental Analysis:

1. Pentaerythritol Market Segment Analysis – By Product Type : The Mono Pentaerythritol type segments accounted for around 35% of the market share in 2021 and are estimated to grow at a significant CAGR during the forecast period. The factor that is helping in the growth of the Mono Pentaerythritol type segment has a wide application in the production of alkyd resins, fatty acid esters for the synthesis of lubricant oils & additives, Oil extracted from Chinese tallow seed for the production of polyether polyols, and chemical polyols production.

2. Pentaerythritol Market Segment Analysis – By Application : The Paint & Coatings segment accounted for more than 37.7% of the market share in 2021 and is estimated to grow significantly during the forecast period. The increase in demand for Paint & Coatings in building and construction, aerospace, automobile and others are fuelling the market for Pentaerythritol. In buildings and the construction industry, these Pentaerythritol are used for interior and exterior decors using paints for walls, doors, windows and others.

3. Pentaerythritol Market Segment Analysis - By End-Use Industry : The Construction segment accounted for more than 20% of the market share in 2021 and is estimated to grow significantly during the forecast period. The usage of Pentaerythritol in construction due to phenomenal properties like Non-hazardous, Solid compound, Water-soluble, alcohol slightly soluble which helps inflame radiant and explosive application are helping in the growth of the Pentaerythritol market during the forecast period.

Competitive landscape:

The top 5 players in the Pentaerythritol industry are:

1. Celanese Corporation
2. Mitsui Chemicals, Inc
3. Perstorp Holding AB
4. Ercros S.A
5. Samyang Chemical Corporation

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