Research Nester published a report titled “Pentaerythritol Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global pentaerythritol market in terms of market segmentation by application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global pentaerythritol market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis of application into explosives, plastics, paints, cosmetics, and others. Out of these, the paints segment is anticipated to hold a substantial share over the forecast period on the account of increasing application of paints in the automotive and construction industries, as pentaerythritol is used to manufacture paints.
The global pentaerythritol market is estimated to grow on the back of increasing application of the compound as a chemical intermediate for manufacturing paints, plastics, and explosives. Moreover, the growing demand in the mining, construction, and automotive industries is also estimated to boost the market growth. Additionally, various properties of pentaerythritol, such as, resistance to ignition, high thermal stability and low volatility, high luster, flexibility, and water and alkali resistance, are projected to boost the market growth.
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 the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing demand for paint, backed by the construction activities in the region. For instance, the U.S. construction sector generated a revenue of around USD 1.3 trillion in 2020.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growth in the Construction Activities to Propel the Market Growth
It was observed that the revenue share of the global construction industry totaled to approximately USD 6 trillion in 2020, which is further expected to reach over USD 14.5 trillion in 2030.
The growing construction of industrial and residential buildings is bound to increase the demand for paints and coatings. As a result, the demand for pentaerythritol is also estimated to surge, as it is used to manufacture paints and coatings. This is expected to boost the market growth.
However, high production cost is expected to operate as key restraint to the growth of global pentaerythritol market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global pentaerythritol market which includes company profiling of BASF SE, Eastman Chemical Company, Solvay S.A., The Dow Chemical Company, KH Neochem Co., Ltd., Saudi Basic Industries Corporation, OQ Chemicals GmbH, Solventis Ltd., PPG Industries, Inc., and Galaxy Surfactants Limited. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global pentaerythritol market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.