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The pentaerythritol market share is expected to increase by USD 414.45 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.1%. This pentaerythritol market research report extensively covers pentaerythritol market segmentation by application (alkyd paints, alkyd inks, adhesives and sealants, plasticizers, and others) and geography (APAC, Europe, North America, Middle East and Africa, and South America).
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The pentaerythritol market report also offers information on several market vendors, including Asian Paints Ltd., Chifeng Ruiyang Chemical Co. Ltd., COMPANHIA PETROQUIMICA DO NORDESTE, Ercros SA, HELM AG, Kanoria Chemicals and Industries Ltd., LCY Chemical Corp., Merck KGaA, Methanol Chemicals Co., Perstorp Holding AB, Samyang Chemical Group, Solventis Ltd., and U-JIN Chemical Co. Ltd. among others.
The growth in the automobile industry is notably driving the pentaerythritol market growth, although factors such as stringent regulations and policies on the use of pentaerythritol may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the pentaerythritol industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Pentaerythritol Market Driver
One of the key factors driving the global pentaerythritol industry growth is the growth in the automobile industry. Pentaerythritol-based esters are used to produce high-grade automotive lubricants because of their thermal stability, viscosity control, and hydrolytic resistance. The use of synthetic lubricants and PU foams in the automobile industry will fuel the consumption of pentaerythritol in the coming years. In 2017, passenger cars accounted for 77% of the global automobile market. The production of passenger cars in developing countries, such as China, India, Brazil, and Indonesia, is increasing, and the governments of these countries support the use of lightweight passenger cars. For example, in 2017, China announced a 50% reduction in sales tax for cars with engine capacities of up to 1.6 l. As a result, passenger cars in the country accounted for more than 70% of its automotive vehicles market. Such factors will drive the market growth during the forecast period.
Key Pentaerythritol Market Trend
Increase in preference for bio-based polyols is one of the key pentaerythritol market trends that is expected to impact the industry positively in the forecast period. The increasing preference for environment-friendly polyols to petroleum-based polyols, owing to their low VOC, will increase the demand for pentaerythritol during the forecast period. Perstorp Orgnr was the first to offer Penta (pentaerythritol) in renewable grade in 2017. Compared with petroleum-based pentaerythritol, the renewable grades of pentaerythritol can reduce almost 80% of the carbon footprints produced during the production process. The increasing demand for environment-friendly pentaerythritol to produce coatings, resins, rosin esters, and synthetic lubricants with low carbon footprints is expected to support the market growth in the coming years.
Key Pentaerythritol Market Challenge
One of the key challenges to the global pentaerythritol industry growth is the stringent regulations and policies by the Environmental Protection Agency (EPA) and Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH). The use of pentaerythritol in F and B, adhesives and coatings, and other applications must conform to the specified permissible limits. The use of pentaerythritol is strictly monitored in the US, Germany, the UK, and Canada. In the US, the Food and Drug Administration (FDA) specifies regulations on the use of pentaerythritol. The Code of Federal Regulation (CFR) 21 PART 175 by the FDA provides guidelines on the use of indirect food additives, including components of coating and adhesives. In Europe, the regulation EU- No 10/2011 specifies guidelines for the use of plastic materials, such as pentaerythritol, in indirect food additives. Such policies can adversely affect the growth of the market in the coming years.
This pentaerythritol market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the pentaerythritol market encompasses successful business strategies deployed by the key vendors. The pentaerythritol market is concentrated and the vendors are deploying growth strategies such as product developments and innovations for the development of environment-friendly polyols to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The pentaerythritol market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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43% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for pentaerythritol in APAC. Market growth in this region will be faster than the growth of the market in South America, Europe, and MEA.
The growth of end-user industries in China, India, Japan, South Korea, and Indonesia will increase the consumption of pentaerythritol, which will facilitate the pentaerythritol market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic in 2020 had an adverse impact on several countries in the region, such as India, Japan, Australia, and Malaysia. As of January 18, 2022, there were over 35.96 million COVID-19 cases and 0.5 million associated deaths in India. Many enterprises, especially small and medium-sized enterprises (SMEs), suspended the production of pentaerythritol for a few months in 2020. This affected the operations, supply chains activities, and working capital of vendors in the region. However, in Q4 2020 and H1 2021, vendors of pentaerythritol in the region started resuming their operations with proper social distancing and sanitization norms, owing to progressing vaccination drives in the region. Such factors are expected to drive the growth of the regional pentaerythritol market during the forecast period.
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The pentaerythritol market share growth by the alkyd paints segment will be significant during the forecast period. Pentaerythritol is widely used as a raw material to produce alkyd paints that are used in architectural and industrial coating applications. Ongoing numerous construction projects in countries such as India and China are expected to drive the demand for pentaerythritol, which will support the growth of the segment in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the pentaerythritol market size and actionable market insights on post COVID-19 impact on each segment.
Our report provides extensive information on the value chain analysis for the pentaerythritol market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
Technavio categorizes the global pentaerythritol market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the pentaerythritol market during the forecast period.
Pentaerythritol Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.1% |
Market growth 2022-2026 |
$ 414.45 million |
Market structure |
Concentrated |
YoY growth (%) |
3.2 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 43% |
Key consumer countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Asian Paints Ltd., Chifeng Ruiyang Chemical Co. Ltd., COMPANHIA PETROQUIMICA DO NORDESTE, Ercros SA, HELM AG, Kanoria Chemicals and Industries Ltd., LCY Chemical Corp., Merck KGaA, Methanol Chemicals Co., Perstorp Holding AB, Samyang Chemical Group, Solventis Ltd., and U-JIN Chemical Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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