Pentaerythritol Market size was valued at USD 2.87 billion in 2023 and is set to cross USD 5.97 billion by 2036, expanding at more than 5.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of pentaerythritol is evaluated at USD 3 billion. Pentaerythritol is a compound with five carbon atoms and four alcohol groups. It is scientifically written as C(CH2OH)4. The growth of the market can be attributed to the growing application in the mining and quarrying, as it is used as an intermediate during the production of explosives. Moreover, it is also used as chemical intermediate to produce paints, plastics, and high-end surface coatings. Another major factor driving the market growth is the growing demand for paints in automotive and construction industry. Further, the growth in the end-use industries is also estimated to promote the market growth. For instance, the revenue share of the global construction industry totaled to approximately USD 6 trillion in 2020, which is expected to reach over USD 14.5 trillion in 2030. On the other hand, the global automotive manufacturing industry was sized at about USD 2.5 trillion in 2021. Such factors are estimated to boost the market growth.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
5.8% |
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Base Year Market Size (2023) |
USD 2.87 billion |
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Forecast Year Market Size (2036) |
USD 5.97 billion |
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Regional Scope |
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The market is segmented by application into explosives, plastics, paints, cosmetics, and others, out of which, the paints segment is anticipated to hold a substantial share in the global pentaerythritol market over the forecast period on account of growing use of paints in the automotive and construction industries. Pentaerythritol is extensively used to manufacture paint owing to its properties, such as, high luster, and water and alkali resistance.
Our in-depth analysis of the global market includes the following segments:
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By Application |
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By End-User |
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On the basis of geographical analysis, the global pentaerythritol market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific industry is likely to account for largest revenue share by 2036, driven by growth in the chemical manufacturing industry in the region. For instance, the chemical industry in Asia accounted for more than 55% share of the revenue generated by the global chemical industry.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing construction activities in the region. For instance, the U.S. construction sector generated a revenue of around USD 1.3 trillion in 2020.
March, 2020: PPG Industries, Inc. announced the acquisition of Alpha Coating Technologies, LLC, which is a manufacturer of powder coatings for light industrial applications.
December, 2018: BASF SE will launch new industrial level raw materials for the coatings, paint, and resins at the 2019 European Coatings Show (ECS).
Author Credits: Rajrani Baghel
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