According to the latest report by IMARC Group, titled “Pentaerythritol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global pentaerythritol market size reached US$ 1.62 Billion in 2019. Pentaerythritol, with the chemical formula C5H12O4, is tetrahydric neopentyl alcohol. It is an organic, odorless, white, crystalline, water-soluble compound. It is prepared by treating acetaldehyde with formaldehyde in an aqueous solution of calcium hydroxide. It exhibits physical properties such as high flash point, resistance to ignition, high thermal stability and low volatility. Moreover, it has a synergistic effect with zinc salt stabilizers, which are being used to replace allyl chloride to stabilize PVC.
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Global Pentaerythritol Market Trends:
Pentaerythritol is used as a varnish, paint, drying oil and aviation lubricating oil. Besides this, as it exhibits high luster, flexibility, and water and alkali resistance, it is widely utilized to manufacture medicines, flame retardants, pesticides and explosives. In the automotive industry, pentaerythritol helps in the manufacturing of automotive lubricants and polyurethane foams that are integrated into vehicle interiors, bumper systems, dashboards, door handles, gear knobs, and seat cushions. Furthermore, bio-based polyols, such as pentaerythritol, are gaining an increasing preference among end users as they are environment-friendly and have a low carbon footprint. As a result, pentaerythritol is used for producing resins, coatings, synthetic lubricants and rosin esters. Moreover, the leading companies are making considerable investments in research and development (R&D) activities to develop novel applications of pentaerythritol. On account of these factors, the market is expected to grow at a CAGR of 5.40% during the forecast period (2020-2025).
- Based on the product type, the market has been segmented into Penaerythritol-95, Penaerythritol-98 and others.
- On the basis of the application, the market has been categorized into alkyd paints, alkyd inks, alkyd adhesives, plasticizers, alkyd varnishes, radiation cure coatings, lubricants and others.
- The market has been segregated based on the end use into automobiles, paints, construction and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Indonesia, Australia and others), Europe (Germany, France, Italy, the United Kingdom, Russia, Spain and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Celanese Corporation, Copenor Companhia Petroquímica do Nordeste, Ercros S.A., Hubei Yihua Group Co. Ltd., Merck KGaA and Mitsui Chemicals, Inc.
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