Phthalic Anhydride Market Size, Share, Opportunities, And Trends By Application (Plasticizers, Alkyd Resins, Unsaturated Polyester Resins, Others), By End-use Industry (Automotive, Electrical And Electronics, Paints And Coatings, Plastics, Others), And By Geography - Forecasts From 2025 To 2030

Phthalic Anhydride Market Size:

The phthalic anhydride market is valued at US$2,344.291 million in 2025 and is projected to grow at a CAGR of 4.25% over the forecast period.

Phthalic Anhydride is a significant chemical intermediate in the production of major chemicals such as phthalate Plasticize, copper Phthalocyanine (CPC), di-ethyl Phthalate (DEP), unsaturated Polyester Resin (UPR), etc. This is one of the major driving factors for the increased demand for phthalic anhydride. Apart from that, phthalic anhydride is utilized in the production of various other industries, such as pharmaceuticals, leather, paper, dyes, saccharine, etc.

• In 2023, the top importers of phthalic anhydride were the Netherlands for the quantity of 66,265,400 Kg, followed by India with 84,825,100 Kg, Turkey with 66,808,800 Kg, Indonesia with 58,978,000 Kg, and the European Union with 42,591,600 Kg, according to WITS (World Integrated Trade Solution).
• The top exporters of phthalic anhydride were China with 131,856,000 Kg, followed by Belgium with 85,828,800 Kg, Japan, and Austria with 27,855,000 Kg in 2023, according to this WITS (World Integrated Trade Solution).

Phthalic Anhydride Market Growth Drivers:

• Rising usage of electronic devices

The growth of electronic devices is attributed to multiple factors, such as rising Internet use, digital media usage, increasing cloud computing activities, and demand for artificial intelligence devices. In 2022, the U.S. imported US$629,871 million worth of electronic devices, a significant rise from the previous year, according to the United States International Trade Commission. The expansion of electronics leads to the demand for phthalic anhydride for the manufacturing of electronic devices.

• Expanding automotive industry

According to the OICA (International Organization of Motor Vehicle Manufacturers), the overall production of vehicles has expanded by 10% in 2023 compared to the previous year. This number of vehicles produced was 93,546,599, of which 67,133,570 are cars, and 26,413,029 are commercial vehicles. These increases are from the major economies of India, China, Canada, Germany, France, etc. The rise in the production of vehicles leads to the demand for phthalic anhydride in plasticizers and coatings usage in the automotive industry. The coatings are necessary for protecting the car's surface from heat and moisture.

Phthalic Anhydride Market Key Analysis:

• The phthalic anhydride market is segmented into five regions worldwide:

By geography, the phthalic anhydride market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as ASEAN countries.   

The Asia Pacific region is expected to grow significantly in the phthalic anhydride market due to its increasing consumer electronics and automotive applications. Indian passenger car market is expected to reach a value of US$54.84 billion by 2027 while registering a CAGR of over 9% between 2022-27. In FY24, the total production of passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles was 2,84,34,742 units.

North America is expected to have a significant market share for phthalic anhydride products due to its major utilization in the electronic and coatings industry. The construction industry in the United States has been increasing steadily and is a major part of the country's economy. The construction spending in the United States was 2,122,229 (million USD) in January 2024, which had been 1,932,302 in 2022.

• By application, the phthalic anhydride market is segmented into plasticizers, alkyd resins, unsaturated polyester resins, and others.

Alkyd resins are a significant segment of the application. Alkyd resins are utilized in various coatings, such as synthetic paints, baking, flame-retardant, industrial, etc.  Around 200,000 tons of alkyd resins are produced each year and used in the protective coatings industry, according to Van Horn, Metz & Co. Inc. In April 2024, ASK Chemicals presented its VOC-free and sustainable binder developments, like NECOWEL alkyd resins. Factors such as the growing consumption of rising paints and coatings industry raise the demand for alkyd resins.

Phthalic Anhydride Market Challenges:

• Phthalic anhydride is toxic in the body. Phthalic anhydride is irritating to the eyes, respiratory tract, and skin in humans. Due to this, it is difficult to handle and store. Tests showed exposure to phthalic anhydride to have moderate acute toxicity.

Phthalic Anhydride Market Product Offerings:

• Phthalic Anhydride molten – Perstorp Group offers Phthalic Anhydride molten. This is utilized in the building blocks for the economical production of orthophthalic polyester resins, gel coats, and alkyd resins. It is delivered in liquid form in bulk containers with a temperature of 160°C or above. Having purity of min. 99.8%.
• Phthalic anhydride by LANXESS- Phthalic anhydride by LANXESS has the molecular formula of C8H4O3 and a molar weight of 148.1.  These are applied in the hardener and crosslinking agents for polymers, plasticizers for polymers, plastics manufacturing, polyester, chemical synthesis, crop protection, dyestuffs manufacturing, fungicides, pharmaceutical agents, etc.

Phthalic Anhydride Market Key Developments:

The major Phthalic Anhydride market players are BASF SE, Exxon Mobil Corporation, I G Petrochemicals Ltd., MITSUBISHI GAS CHEMICAL COMPANY INC., and KLJ Group, among others. These players implement growth strategies such as product launches, mergers, acquisitions, etc., to gain a competitive advantage. For Instance,

• In August 2024, BASF and UPC signed a MoU to strengthen strategic cooperation on plasticizer alcohols and catalysts. This partnership focused on the collaboration involving plasticizer alcohols and catalysts for phthalic anhydride and maleic anhydride. These would be supplied from the Zhanjiang Verbund Site. This partnership aimed to supply plasticizer alcohols and catalysts for phthalic anhydride (PA) and maleic anhydride (MA). With the start-up of oxo-alcohol production at the Zhanjiang Verbund site in 2025, BASF and UPC would enhance collaborations.  Both parties would also jointly promote BASF's low-carbon emission products and develop new products for UPC's value chain.
• In June 2024, AkzoNobel and Relement agreed to launch the product bio MPA (3-methyl phthalic anhydride). This would be applied to coatings. Together, they were looking for other opportunities that could broaden the scope of this partnership and add value in multiple areas.
• In June 2023, KLJ Group invested Rs. 1,200 crore and commissioned a Plasticizers & Phthalic Anhydride production facility at the Jhagadia Industrial Estate, Bharuch, Gujarat. The facility is a BIS-certified. This manufacturing facility would help the KLJ Group expand its product portfolio and meet the growing demand. KLJ Group is a leading player in the plasticizers industry. The facility had a production capacity of 300,000 MT of Phthalate Plasticizers, 100,000 MT of Phthalic Anhydride, 3,500 MT of Maleic Anhydride, and 700 MT of Benzoic Acid annually. By incorporating a Phthalic Anhydride (PA) unit at the Jhagadia complex, KLJ Group achieved backward integration for the first time in India. With this, the company could utilize approximately 70-75% of the Phthalic Anhydride produced. This plant would serve the wider customer base and meet the increasing market demands.
• In May 2023, I G Petrochemicals Limited expanded their phthalic anhydride at PA-5 unit and will likely be commercialized before March '24. This would add 53,000 metric tons of phthalic anhydride and nearly 2,500 maleic anhydrides, contributing to more than INR500 crores of revenue for the company.

Phthalic Anhydride Market Scope:

Report Metric	Details
Phthalic Anhydride Market Size in 2025	US$2,344.291 million
Growth Rate	CAGR of 4.25%
Study Period	2020 to 2030
Historical Data	2020 to 2023
Base Year	2024
Forecast Period	2025 – 2030
Forecast Unit (Value)	USD Million
Segmentation	Application End-use Industry Geography
Geographical Segmentation	North America, South America, Europe, Middle East and Africa, Asia Pacific
List of Major Companies in Phthalic Anhydride Market	AEKYUNG CHEMICAL Co. Ltd BASF SE Exxon Mobil Corporation I G Petrochemicals Ltd. Koppers Inc.
Customization Scope	Free report customization with purchase

 

The Phthalic Anhydride Market is analyzed into the following segments:

• By Application
  • Plasticizers
  • Alkyd Resins
  • Unsaturated Polyester Resins
  • Others
• By End-use Industry
  • Automotive
  • Electrical And Electronics
  • Paints And Coatings
  • Plastics
  • Others
• By Geography
• • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Rest of the Middle East and Africa
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Rest of Asia-Pacific

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.1.1. Growing demand for paints and coatings

4.1.2. Rising usage of electronic devices

4.1.3. Expanding automotive industry

4.2. Market Restraints

4.2.1. Harmful effects of phthalates 

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. PHTHALIC ANHYDRIDE MARKET BY APPLICATION 

5.1. Introduction

5.2. Plasticizers

5.3. Alkyd Resins

5.4. Unsaturated Polyester Resins

5.5. Others

6. PHTHALIC ANHYDRIDE MARKET BY END-USE INDUSTRY

6.1. Introduction

6.2. Automotive

6.3. Electrical And Electronics

6.4. Paints And Coatings

6.5. Plastics

6.6. Others

7. PHTHALIC ANHYDRIDE MARKET BY GEOGRAPHY

7.1. Global Overview

7.2. North America

7.2.1. United States

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Rest of South America

7.4. Europe

7.4.1. United Kingdom

7.4.2. Germany

7.4.3. France

7.4.4. Italy

7.4.5. Spain

7.4.6. Rest of Europe

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. United Arab Emirates

7.5.3. Rest of the Middle East and Africa

7.6. Asia-Pacific

7.6.1. China

7.6.2. India

7.6.3. Japan

7.6.4. South Korea

7.6.5. Taiwan

7.6.6. Thailand

7.6.7. Indonesia

7.6.8. Rest of Asia-Pacific

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. AEKYUNG CHEMICAL Co. Ltd

9.2. BASF SE 

9.3. Exxon Mobil Corporation

9.4. I G Petrochemicals Ltd.

9.5. Koppers Inc.

9.6. LANXESS

9.7. MITSUBISHI GAS CHEMICAL COMPANY INC.

9.8. NAN YA PLASTICS CORPORATION

9.9. Polynt Group

9.10. Stepan Company

9.11. Merck KGaA

9.12. EMCO Dyestuff

9.13. Perstorp

9.14. Thirumalai Chemicals Ltd 

9.15. KLJ Group

9.16. UPC (MiTAC-Synnex Group)

AEKYUNG CHEMICAL Co. Ltd

BASF SE 

Exxon Mobil Corporation

I G Petrochemicals Ltd.

Koppers Inc.

LANXESS

MITSUBISHI GAS CHEMICAL COMPANY INC.

NAN YA PLASTICS CORPORATION

Polynt Group

Stepan Company

Merck KGaA

EMCO Dyestuff

Perstorp

Thirumalai Chemicals Ltd 

KLJ Group

UPC (MiTAC-Synnex Group)