Global Pentaerythritol Market 2019-2023 | Increase in Preference for Bio-Based Polyols to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 8, 2019--
The global pentaerythritol market is expected to post a CAGR about 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global pentaerythritol market 2019-2023 (Graphic: Business Wire)
Pentaerythritol-based esters have high thermal stability, hydrolytic resistance, and viscosity control. As a result, pentaerythritol is used in the automotive industry to produce high-grade automotive lubricants. It is also used in the synthesis of PU foams. These PU foams are extensively integrated in vehicle interiors and exteriors such as door handles, bumper system gear knobs, interior trims, dashboards, and seat cushions. With the increase in production of passenger cars, the consumption of pentaerythritol is increasing. Thus, the growth of the automotive industry will boost the growth of the pentaerythritol market during the forecast period.
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As per Technavio, the rising demand for bio-based polyols will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Pentaerythritol Market: Growing Preference for Bio-Based Polyols
The growing focus on product development and innovations is encouraging manufacturers to introduce environment-friendly polyols. Pentaerythritol is a bio-based polyol, which is extensively used to produce rosin esters, coatings, synthetic lubricants, and resins with low carbon footprint. The renewable grades of pentaerythritol can reduce almost 80% of the carbon footprint. Such benefits of bio-based, environment-friendly polyols will drive the demand for pentaerythritol. Thus, the market for pentaerythritol is expected to showcase a positive outlook during the forecast period.
“The growing demand for niche application segments and increase in global pentaerythritol production capacity are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Pentaerythritol Market: Segmentation Analysis
This market research report segments the global pentaerythritol market by application (alkyd paints, alkyd inks, adhesives and sealants, plasticizers, and others) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by Europe, North America, MEA, and South America, and respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the growing consumption of pentaerythritol in end-user industries such as construction and automotive industries in China, South Korea, Indonesia, and India.
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Some of the key topics covered in the report include:
Five Forces Analysis
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SOURCE: Technavio Research
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PUB: 11/08/2019 11:30 AM/DISC: 11/08/2019 11:30 AM