Pentaerythritol Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The pentaerythritol market is expected to grow at a CAGR of over 4% during the forecast period. Major factor driving the market studied is growing demand of pentaerythritol from paints and coatings. On the flip side, Volatility in raw material price and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.

Key Highlights

• Growing demand of pentaerythritol from eco-friendly paints and coatings is forecasted to offer various opportunities for the growth of the market over the forecast period.
• Pentaerythritol from paints and coating application is expected to dominate the market studied over the forecast period.
• Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.

Key Market Trends

Growing Demand of Pentaerythritol from Paints and Coatings

• Pentaerythritol is a versatile building block for the preparation of many polyfunctionalized compounds made from formaldehyde and acetaldehyde.
• Pentaerythritol is used for the synthesis and production of explosives, plastics, paints, appliances, cosmetics, and many other commercial products.
• Pentaerythritol is also one of the most common main active components in intumescent paints and coatings and acts as a carbon donor together with an acid donor, most commonly ammonium polyphosphate (APP).
• Modern advances in paint technology, construction activities and favorable government measures are likely to boost the demand of paints and coatings in coming years.
• Hence, owing to the above-mentioned factors, the application of pentaerythritol from paints and coatings is likely to dominate during the forecast period

Asia-Pacific Region to Dominate the Market

• 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.
• The largest producers of pentaerythritol are located in Asia-Pacific region. Some of the leading companies in the production of pentaerythritol are Ercros SA, Perstorp, Chemanol, KH Chemicals, and among Chifeng Ruiyang Chemical Co.,Ltd others.
• China’s real estate sector has been growing rapidly with increased investment by the government. In 2019, property prices in China rose by about 30.0% due to increased activity in the real estate space.
• 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 during the study period.

Competitive Landscape

The global pentaerythritol market is partially consolidated in nature with only few major players dominating the market. Some of the major companies are Ercros SA, Perstorp, Chemanol, KH Chemicals, and among Chifeng Ruiyang Chemical Co.,Ltd others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support