The Global Pentaerythritol Market was valued at USD 1.01 billion in 2011 and is expected to reach USD 1.59 billion by 2019, growing at a CAGR of 6.8% from 2013 to 2019. In terms of volume, global consumption was 485.9 kilo tons in 2011 and is expected to reach 692.9 kilo tons by 2019, growing at a CAGR of 5.3% from 2013 to 2019.
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Pentaerythritol is majorly used for manufacturing alkyd paints which has been a key contributor to its market growth in recent times and owing to the growing infrastructure market mainly in Asia Pacific, this trend is expected to continue over the forecast period. In addition, eco-friendly nature of pentaerythritol has been gaining regulatory support as a non-hazardous and sustainable product for end-users. Furthermore, emerging innovative applications of pentaerythritol such as therapeutics and marine coatings are expected to provide immense opportunities for the major players operating in the global market. However, limited availability of raw materials such as formaldehyde and acetaldehyde due to overlapping with their other commercial applications is expected to inhibit the market growth.
Alkyd paint was the largest application segment for pentaerythritol and accounted for over 37% of the total market in 2011. Alkyd paint application is expected to grow at a CAGR of 5.5% over the forecast period. These paints find applications in residential as well as industrial construction. Applications of pentaerythritol in plasticizers are expected to be the fastest growing applications and are projected to grow at a CAGR of 5.9% from 2013 to 2019.
Asia Pacific emerged as the leading consumer for pentaerythritol and accounted for over 40% of the total demand in 2011. Asia Pacific along with being the biggest market is also expected to be the fastest growing market for pentaerythritol at a CAGR of 5.7% from 2013 to 2019. The growth of the...