LONDON--(BUSINESS WIRE)--The phthalic anhydride market is expected to grow by USD 3.52 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the phthalic anhydride market in optimistic, probable, and pessimistic forecast scenarios.
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The phthalic anhydride market will witness a neutral impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase as compared to 2019.
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Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Phthalic Anhydride Market Participants:
BASF SE operates its business through segments such as Agricultural Solutions and Other. O4-35, O4-66, and O4-68 some of the products offered by the company under its PA product line.
Exxon Mobil Corp.
Exxon Mobil Corp. operates its business through segments such as Upstream, Downstream, and Chemical. The company offers PA for plasticizers. It produces PA in its Rotterdam production facility.
IG Petrochemicals Ltd.
IG Petrochemicals Ltd. operates as a single business segment, which includes the manufacturing and sales of organic chemicals such as phthalic anhydride, maleic anhydride, and benzoic acid.
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Phthalic Anhydride Market 2020-2024: Segmentation
Phthalic anhydride market is segmented as below:
- Alkyd Resins
- North America
- South America
The phthalic anhydride market is driven by the growth of the construction industry. In addition, other factors such as increased use of plasticizers in PVC products are expected to trigger the phthalic anhydride market toward witnessing a CAGR of almost 7% during the forecast period.
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- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.