Global Pentaerythritol Market Predicted to Grow at ~7% CAGR during 2022-2031; Growing Demand for Intermediate for Paints and Coatings and Rising Application in Construction and Automotive to Promote Growth

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Major companies covered in Research Nester’s Global Pentaerythritol Market research report are Solvay SA, BASF SE, Eastman Chemical Company, The Dow Chemical Company, KH Neochem Co., Ltd., Saudi Basic Industries Corporation, OQ Chemicals GmbH, Solventis Ltd., Galaxy Surfactants Limited, PPG Industries, Inc. and other major market players.

New York, Sept. 19, 2022 (GLOBE NEWSWIRE) — Research Nester has published an in-depth market report on “Global pentaerythritol market‘ for the forecast period, i.e. 2022 – 2031, which includes the following factors:

  • Market growth over the forecast period

  • Detailed regional summary

  • market segmentation

  • growth accelerator

  • challenges

  • Key market players and their detailed profiling

Global Pentaerythritol Market Size:

It is estimated that the global pentaerythritol market will grow at a CAGR of approximately 7% during the forecast period. Pentaerythritol is a substance with four alcohol groups and five carbon atoms. The scientific notation for this is C(CH2OH)4. Since it is used as an intermediary in the manufacture of explosives, the expansion of the market can be attributed to its increasing use in the mining and quarrying industries. Additionally, the emerging mining industry and increasing mining production across the globe are forecast to drive the market growth. US mines were found to have produced about $82.3 billion worth of minerals in 2020, while domestic production of rare earth mineral concentrates increased by 10,000 tons to 38,000 tons.

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Additionally, it serves as a chemical intermediate in the manufacture of paints, plastics, and high-quality surface coatings, which are supported by the growing paint and plastics industries around the world, and is projected to spur market growth over the forecast period. For example, in 2019 over 9 billion gallons of paint and coatings were sold in the global market. In addition, increasing urbanization and increasing usage of cosmetics across the world are predicted to accelerate the market growth.

Global pentaerythritol Market: The central theses

  • The North America region generates the majority of sales

  • Construction end-user segment to hold a significant share of sales

  • The application segment for colors remains prominent in the application segment

Growing automotive sector and rising plastic consumption to fuel market growth

In addition, increasing use of pentaerythritol for paint manufacturing and increasing use of paints in automotive industry, aided by the growing global automotive sector, are predicted to boost the market growth. The total number of passenger cars, three-wheelers, two-wheelers and four-wheelers produced in India was found to be around 1,800,460 in April 2022. Additionally, the increasing government initiatives and investments in R&D across the world are predicted to accelerate the market growth.

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In addition, the market is estimated to benefit greatly from the increasing use of pentaerythritol as an intermediate and as a superplasticizer in structural applications and the production of PVC plastics in infrastructure development, aided by the burgeoning plastics industry and rising plastics consumption in all areas of the globe. For example, China produces almost 7 million tons of plastic products every month.

Global pentaerythritol Market: Regional overview

The global pentaerythritol market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

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Expansion of the chemical industry to support growth in the Asia-Pacific region

The Asia Pacific market is expected to witness remarkable growth over a forecast period owing to the growing chemical industry in the region. It was noted that emerging markets in Asia, particularly the Middle East, accounted for the majority of global chemical sales for the quarter. China was the world’s largest producer of chemicals, accounting for more than 45% of all chemical sales in 2020. Furthermore, the growing manufacturing industry and rising population in the region are expected to drive the market growth over the forecast period.

Increased construction activity to support growth in the North America region

On the other hand, it is estimated that the market in the North America region will hold the largest market share during the forecast period owing to the region’s growing urban population and rising demand for concrete for construction activities. In addition, the US economy is benefiting greatly from the construction industry, which is expected to boost regional market expansion. It has been noted that the market size of the American construction sector is estimated to exceed $2 trillion in 2021 and it is expected to increase even further in the following year. Furthermore, the boost in market growth is attributed to the increasing investments in R&D activities and the presence of key market players in the region.

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The study further considers YOY ​​growth, demand and supply, and projected future opportunities in:

  • North America (USA, Canada)

  • Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands and 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).

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Global pentaerythritol Market, segmentation by application

    • explosives

    • plastics

    • Colours

    • cosmetics

    • Other

Out of these, paints segment is projected to hold a significant market share over a forecast period due to the increasing use of paints in construction and automotive industries. Pentaerythritol is widely used in the manufacture of paints due to its properties such as high gloss and resistance to alkali and water. Additionally, the burgeoning automotive industry and growing construction sectors around the world are forecast to drive segment growth. For example, the US auto sector sold over 3 million vehicles in 2021. A total of approximately 14.9 million automobiles and light trucks were sold in the United States that year.

Global pentaerythritol Market, segmentation by end user

    • automobiles

    • Mining

    • construction

    • Other

Among these, it is estimated that the construction sector will hold a significant market share over a forecast period due to increasing urbanization and increasing construction activities across the globe. The US economy has been found to be heavily influenced by the construction sector, which employs more than 740,000 people and produces over $1 trillion worth of structures annually. In addition, growing demand for homes and jobs, supported by a rising global population, is expected to spur segment growth.

Some of the well-known leaders in the global pentaerythritol market profiled by Research Nester are Solvay SA, BASF SE, Eastman Chemical Company, The Dow Chemical Company, KH Neochem Co., Ltd., Saudi Basic Industries Corporation, OQ Chemicals GmbH , Solventis Ltd., Galaxy Surfactants Limited, PPG Industries, Inc. and others.

More insights into the market share of different regions:

Recent developments in the Global pentaerythritol market

  • In August 2022, PPG announced an $11 million investment to quadruple production capacity at its powder coatings facility in San Juan del Rio, Mexico.

  • In April 2021, Omya and BASF announced that they would continue their collaboration on the “Pilot Coating Center for Paper & Board” project. As a result, customers would continue to receive world-class technical service and coating expertise.

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