Pentaerythritol Market Size

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.