무수프탈산 시장 규모, 점유율, 성장, 세계 산업 분석, 지역별 인사이트 및 예측(2026-2034년)

Growth Factors of phthalic anhydride Market

The global phthalic anhydride market size was valued at USD 5.38 billion in 2025 and is projected to grow from USD 5.56 billion in 2026 to USD 7.31 billion by 2034, registering a CAGR of 3.5% during 2026-2034. Asia Pacific dominated the global market with a 53.53% share in 2025, supported by infrastructure development, urbanization, PVC production, and expanding downstream plasticizer applications.

Phthalic anhydride is a white crystalline chemical intermediate primarily produced through the oxidation of ortho-xylene. It is widely used to manufacture plasticizers, alkyd resins, and unsaturated polyester resins. Increasing demand for flexible PVC in construction, automotive, electrical cables, flooring, and synthetic leather is supporting consumption, while coatings and fiberglass-reinforced composites provide additional demand.

MARKET DRIVERS

Surging Demand for Flexible PVC: Flexible PVC is extensively used in flooring, pipes, cables, roofing membranes, synthetic leather, and automotive components. Rapid urbanization, infrastructure expansion, housing development, and industrialization in Asia Pacific, the Middle East, and Latin America are increasing demand for phthalate plasticizers derived from phthalic anhydride.

Growing Coatings and Paints Demand: Phthalic anhydride is an important raw material for alkyd resins used in industrial and architectural coatings. Increasing manufacturing, infrastructure development, machinery production, and surface-protection requirements are supporting demand.

MARKET RESTRAINTS

Feedstock Volatility: Ortho-xylene is the primary feedstock for phthalic anhydride production, making manufacturers sensitive to crude oil, aromatics, refining, and energy-price fluctuations. Geopolitical disruptions and changes in refinery capacity can further affect production costs and margins.

MARKET OPPORTUNITIES

Strategic Integration: Backward integration into ortho-xylene production can improve feedstock security, while forward integration into plasticizers, alkyd resins, and polyester intermediates can help producers capture additional value. Integrated operations can also improve supply reliability and reduce exposure to raw-material volatility.

MARKET CHALLENGES

Non-Phthalate Alternatives: The increasing adoption of non-phthalate and bio-based plasticizers creates competitive pressure, particularly in developed markets with stringent environmental and health regulations. Downstream manufacturers are increasingly evaluating alternative plasticizer technologies to meet sustainability and regulatory requirements.

MARKET TRENDS

Industrial Growth and Coatings Demand: Expanding automotive, machinery, marine, infrastructure, and industrial manufacturing activity is increasing demand for durable coatings. Alkyd resins produced using phthalic anhydride provide gloss, adhesion, durability, and surface protection, supporting continued demand.

SEGMENTATION ANALYSIS

By Application

The market is segmented into plasticisers, unsaturated polyester resins, alkyd resins, and others. Plasticisers accounted for the dominant share because flexible PVC remains the largest downstream consumption area. Unsaturated polyester resins are also gaining demand in fiberglass-reinforced plastics used in water tanks, construction panels, infrastructure, marine applications, and renewable-energy components. Alkyd resins remain important for industrial and architectural coatings.

REGIONAL OUTLOOK

Asia Pacific: Asia Pacific dominated the market with USD 2.88 billion in 2025. China, India, Vietnam, and Indonesia are driving demand through infrastructure development, housing construction, PVC production, and growing manufacturing activity. The region's large PVC manufacturing base and cost-competitive production environment strengthen its position.

North America: Demand is supported by alkyd resins used in industrial and architectural coatings. Specialty coatings, engineered resins, infrastructure maintenance, and corrosion-protection applications provide stable consumption.

Europe: Europe benefits from demand for unsaturated polyester resins in lightweight automotive, construction, and marine composites. Producers are increasingly focusing on high-value and lower-emission resin applications.

Latin America: Brazil, Mexico, and Colombia are important markets, with residential and commercial construction, infrastructure, coatings, flexible PVC, piping, cabling, and synthetic leather supporting demand.

Middle East & Africa: Industrialization, infrastructure development, housing, electrification, and government-led construction projects are supporting demand, particularly in Saudi Arabia and South Africa.

COMPETITIVE LANDSCAPE

The global market has moderate to high competitive rivalry, with companies competing through production scale, feedstock access, downstream integration, technical capabilities, and distribution networks. Major companies include AEKYUNG CHEMICAL, I G Petrochemicals, NAN YA PLASTICS, POLYNT, Air Water Performance Chemical, LANXESS, Shanghai Douwin Chemical, Stepan Company, Thirumalai Chemicals, and UPC Technology.

KEY INDUSTRY DEVELOPMENTS

Companies are increasingly focusing on downstream integration, specialty resin applications, production efficiency, and sustainable alternatives. Investments in plasticizers, polyester resins, coatings, and composite materials are strengthening the industry's value chain and helping manufacturers address changing regulatory and customer requirements.

REPORT COVERAGE

The report covers the global phthalic anhydride market size and forecast for 2025, 2026, and 2034, market dynamics, drivers, restraints, opportunities, trends, application segmentation, regional outlook, competitive landscape, key companies, industry developments, and factors influencing future market growth.

CONCLUSION

The global phthalic anhydride market is projected to increase from USD 5.38 billion in 2025 to USD 5.56 billion in 2026 and USD 7.31 billion by 2034, at a 3.5% CAGR. Rising flexible PVC consumption, construction and infrastructure development, coatings demand, and growing use of unsaturated polyester resins will support market expansion. Asia Pacific will remain a major market due to its strong PVC manufacturing base and rapid industrialization. However, feedstock-price volatility and increasing adoption of non-phthalate plasticizers will remain important factors influencing the industry's future development.

Unit Volume (Kiloton); Value (USD Billion)

Segmentation By Application, and By Geography

By Application

• Plasticisers
• Unsaturated Polyester Resins
• Alkyd Resins
• Others

By Geography North America (By Application, By Country)

• U.S. (By Application)
• Canada (By Application)

Europe (By Application, By Country)

• Germany (By Application)
• U.K. (By Application)
• France (By Application)
• Italy (By Application)
• Spain (By Application)
• Rest of Europe (By Application)

Asia Pacific (By Application, By Country)

• China (By Application)
• India (By Application)
• Japan (By Application)
• South Korea (By Application)
• Rest of Asia Pacific (By Application)

Latin America (By Application, By Country)

• Brazil (By Application)
• Mexico (By Application)
• Rest of Latin America (By Application)

Middle East & Africa (By Application, By Country)

• Saudi Arabia (By Application)
• South Africa (By Application)
• Rest of Middle East & Africa (By Application)

Table of Content

1. Introduction

• 1.1. Research Scope
• 1.2. Market Segmentation
• 1.3. Research Methodology
• 1.4. Definitions and Assumptions

2. Executive Summary

3. Market Dynamics

• 3.1. Market Drivers
• 3.2. Market Restraints
• 3.3. Market Opportunities

4. Key Insights

• 4.1. Key Market Trends
• 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
• 4.3. Insights on Sustainability
• 4.4. Latest Technological Advancement
• 4.5. Porter's Five Forces Analysis
• 4.6. Global Price Trend Analysis
• 4.7. Tariff Impact Analysis

5. Global Phthalic Anhydride Market Analysis, Insights and Forecast, 2021-2034

• 5.1. Key Findings / Summary
• 5.2. By Application
  • 5.2.1. Plasticisers
  • 5.2.2. Unsaturated Polyester Resins
  • 5.2.3. Alkyd Resins
  • 5.2.4. Others
• 5.3. By Region
  • 5.3.1. North America
  • 5.3.2. Europe
  • 5.3.3. Asia Pacific
  • 5.3.4. Latin America
  • 5.3.5. Middle East & Africa

6. North America Phthalic Anhydride Market Analysis, Insights and Forecast, 2021-2034

• 6.1. Key Findings / Summary
• 6.2. By Application
  • 6.2.1. Plasticisers
  • 6.2.2. Unsaturated Polyester Resins
  • 6.2.3. Alkyd Resins
  • 6.2.4. Others
• 6.3. By Country
  • 6.3.1. U.S.
    • 6.3.1.1. By Application
      • 6.3.1.1.1. Plasticisers
      • 6.3.1.1.2. Unsaturated Polyester Resins
      • 6.3.1.1.3. Alkyd Resins
      • 6.3.1.1.4. Others
  • 6.3.2. Canada
    • 6.3.2.1. By Application
      • 6.3.2.1.1. Plasticisers
      • 6.3.2.1.2. Unsaturated Polyester Resins
      • 6.3.2.1.3. Alkyd Resins
      • 6.3.2.1.4. Others

7. Europe Phthalic Anhydride Market Analysis, Insights and Forecast, 2021-2034

• 7.1. Key Findings / Summary
• 7.2. By Application
  • 7.2.1. Plasticisers
  • 7.2.2. Unsaturated Polyester Resins
  • 7.2.3. Alkyd Resins
  • 7.2.4. Others
• 7.3. By Country
  • 7.3.1. Germany
    • 7.3.1.1. By Application
      • 7.3.1.1.1. Plasticisers
      • 7.3.1.1.2. Unsaturated Polyester Resins
      • 7.3.1.1.3. Alkyd Resins
      • 7.3.1.1.4. Others
  • 7.3.2. U.K.
    • 7.3.2.1. By Application
      • 7.3.2.1.1. Plasticisers
      • 7.3.2.1.2. Unsaturated Polyester Resins
      • 7.3.2.1.3. Alkyd Resins
      • 7.3.2.1.4. Others
  • 7.3.3. France
    • 7.3.3.1. By Application
      • 7.3.3.1.1. Plasticisers
      • 7.3.3.1.2. Unsaturated Polyester Resins
      • 7.3.3.1.3. Alkyd Resins
      • 7.3.3.1.4. Others
  • 7.3.4. Italy
    • 7.3.4.1. By Application
      • 7.3.4.1.1. Plasticisers
      • 7.3.4.1.2. Unsaturated Polyester Resins
      • 7.3.4.1.3. Alkyd Resins
      • 7.3.4.1.4. Others
  • 7.3.5. Spain
    • 7.3.5.1. By Application
      • 7.3.5.1.1. Plasticisers
      • 7.3.5.1.2. Unsaturated Polyester Resins
      • 7.3.5.1.3. Alkyd Resins
      • 7.3.5.1.4. Others
  • 7.3.6. Rest of Europe
    • 7.3.6.1. By Application
      • 7.3.6.1.1. Plasticisers
      • 7.3.6.1.2. Unsaturated Polyester Resins
      • 7.3.6.1.3. Alkyd Resins
      • 7.3.6.1.4. Others

8. Asia-Pacific Phthalic Anhydride Market Analysis, Insights and Forecast, 2021-2034

• 8.1. Key Findings / Summary
• 8.2. By Application
  • 8.2.1. Plasticisers
  • 8.2.2. Unsaturated Polyester Resins
  • 8.2.3. Alkyd Resins
  • 8.2.4. Others
• 8.3. By Country
  • 8.3.1. China
    • 8.3.1.1. By Application
      • 8.3.1.1.1. Plasticisers
      • 8.3.1.1.2. Unsaturated Polyester Resins
      • 8.3.1.1.3. Alkyd Resins
      • 8.3.1.1.4. Others
  • 8.3.2. India
    • 8.3.2.1. By Application
      • 8.3.2.1.1. Plasticisers
      • 8.3.2.1.2. Unsaturated Polyester Resins
      • 8.3.2.1.3. Alkyd Resins
      • 8.3.2.1.4. Others
  • 8.3.3. Japan
    • 8.3.3.1. By Application
      • 8.3.3.1.1. Plasticisers
      • 8.3.3.1.2. Unsaturated Polyester Resins
      • 8.3.3.1.3. Alkyd Resins
      • 8.3.3.1.4. Others
  • 8.3.4. South Korea
    • 8.3.4.1. By Application
      • 8.3.4.1.1. Plasticisers
      • 8.3.4.1.2. Unsaturated Polyester Resins
      • 8.3.4.1.3. Alkyd Resins
      • 8.3.4.1.4. Others
  • 8.3.5. Rest of Asia Pacific
    • 8.3.5.1. By Application
      • 8.3.5.1.1. Plasticisers
      • 8.3.5.1.2. Unsaturated Polyester Resins
      • 8.3.5.1.3. Alkyd Resins
      • 8.3.5.1.4. Others

9. Latin America Phthalic Anhydride Market Analysis, Insights and Forecast, 2021-2034

• 9.1. Key Findings / Summary
• 9.2. By Application
  • 9.2.1. Plasticisers
  • 9.2.2. Unsaturated Polyester Resins
  • 9.2.3. Alkyd Resins
  • 9.2.4. Others
• 9.3. By Country
  • 9.3.1. Brazil
    • 9.3.1.1. By Application
      • 9.3.1.1.1. Plasticisers
      • 9.3.1.1.2. Unsaturated Polyester Resins
      • 9.3.1.1.3. Alkyd Resins
      • 9.3.1.1.4. Others
  • 9.3.2. Mexico
    • 9.3.2.1. By Application
      • 9.3.2.1.1. Plasticisers
      • 9.3.2.1.2. Unsaturated Polyester Resins
      • 9.3.2.1.3. Alkyd Resins
      • 9.3.2.1.4. Others
  • 9.3.3. Rest of Latin America
    • 9.3.3.1. By Application
      • 9.3.3.1.1. Plasticisers
      • 9.3.3.1.2. Unsaturated Polyester Resins
      • 9.3.3.1.3. Alkyd Resins
      • 9.3.3.1.4. Others

10. Middle East & Africa Phthalic Anhydride Market Analysis, Insights and Forecast, 2021-2034

• 10.1. Key Findings / Summary
• 10.2. By Application
  • 10.2.1. Plasticisers
  • 10.2.2. Unsaturated Polyester Resins
  • 10.2.3. Alkyd Resins
  • 10.2.4. Others
• 10.3. By Country
  • 10.3.1. Saudi Arabia
    • 10.3.1.1. By Application
      • 10.3.1.1.1. Plasticisers
      • 10.3.1.1.2. Unsaturated Polyester Resins
      • 10.3.1.1.3. Alkyd Resins
      • 10.3.1.1.4. Others
  • 10.3.2. South Africa
    • 10.3.2.1. By Application
      • 10.3.2.1.1. Plasticisers
      • 10.3.2.1.2. Unsaturated Polyester Resins
      • 10.3.2.1.3. Alkyd Resins
      • 10.3.2.1.4. Others
  • 10.3.3. Rest of the Middle East & Africa
    • 10.3.3.1. By Application
      • 10.3.3.1.1. Plasticisers
      • 10.3.3.1.2. Unsaturated Polyester Resins
      • 10.3.3.1.3. Alkyd Resins
      • 10.3.3.1.4. Others

11. Company Analysis

• 11.1. Company Market Share/Ranking Analysis, By Key Players, 2025
• 11.2. Company Profile
  • 11.2.1. AEKYUNG CHEMICAL CO., LTD.
    • 11.2.1.1. Overview
    • 11.2.1.2. Description
    • 11.2.1.3. Product Portfolio
    • 11.2.1.4. Financials (Data as available in public domain and/or on paid databases)
    • 11.2.1.5. Recent Developments

12. (Similar information has been provided for all the below companies)

13. AIR WATER PERFORMANCE CHEMICAL INC.

• 13.1. I G Petrochemicals Ltd.
  • 13.1.1. LANXESS
  • 13.1.2. NAN YA PLASTICS CORPORATION
  • 13.1.3. POLYNT SPA
  • 13.1.4. Shanghai Douwin Chemical Co.,Ltd.
  • 13.1.5. Stepan Company
  • 13.1.6. Thirumalai Chemicals
  • 13.1.7. UPC Technology Corporation
  • 13.1.8. Other Key Players

14. Strategic Recommendations