Phthalic Anhydride Market Poised to Reach USD 7.31 Billion by 2034 on Rising PVC & Coatings Demand

Global Phthalic Anhydride Market projected to grow at a CAGR of 3.5% through 2034, driven by flexible PVC, paints & industrial expansion.

PUNE, MAHARASHTRA, INDIA, February 11, 2026 /EINPresswire.com/ -- The global Phthalic Anhydride Market Size is on track for robust growth over the coming decade, according to a recent comprehensive report by Fortune Business Insights. The market size was estimated at USD 5.38 billion in 2025, with projections indicating growth to USD 7.31 billion by 2034, registering a compound annual growth rate (CAGR) of 3.5 % during the forecast period.

Phthalic anhydride is a white crystalline intermediate primarily used in the production of plasticizers, alkyd resins, and unsaturated polyester resins, serving as a vital chemical building block in the manufacture of flexible polyvinyl chloride (PVC), coatings, fiberglass-reinforced materials, and a range of industrial products.

Phthalic Anhydride Market Overview
According to the Fortune Business Insights report, phthalic anhydride’s key value stems from its role as a core raw material in producing flexible PVC and resin systems used across multiple industries. The market’s growth is closely tied to expansion in construction, infrastructure, automotive, and consumer goods sectors, where performance polymers and flexible materials are in increasing demand. With rapid urbanization and industrialization, especially in emerging economies across Asia Pacific and Latin America, the demand for flexible PVC and coatings continues to expand, underpinning the market’s upward trajectory.

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Top Companies in Market
The competitive landscape of the phthalic anhydride market features a mix of established global players and regional producers leveraging technical expertise, distribution networks, and integration strategies. Leading companies include:
• AEKYUNG CHEMICAL CO., LTD.
• I G Petrochemicals Ltd.
• NAN YA PLASTICS CORPORATION
• POLYNT SPA
• Shanghai Douwin Chemical Co., Ltd.
• Stepan Company
• Thirumalai Chemicals
• UPC Technology Corporation
• LANXESS
• Air Water Performance Chemical Inc.

These companies focus on innovation, downstream integration, and expanding production capabilities to meet evolving industrial requirements and sustain market competitiveness.

Phthalic Anhydride Market Trends
Several notable market trends are reshaping the phthalic anhydride industry:
• Rising industrial manufacturing and infrastructure activity is boosting demand for alkyd resins used in coatings and paints for corrosion protection and surface finishing in automotive and construction applications.
• Growth in flexible PVC consumption across emerging economies is reinforcing demand for phthalate plasticizers derived from phthalic anhydride, particularly in flooring, piping, wiring, and synthetic leather production.
• Innovation in resin technology and growing adoption of unsaturated polyester resins for composites and fiberglass materials support expanded usage in renewable energy, marine, and industrial components.
These trends collectively indicate a diversifying application base for phthalic anhydride, strengthening the market’s resilience and growth potential.

Phthalic Anhydride Market Growth Factors
The market growth of phthalic anhydride is fueled by multiple factors:
• Surging PVC demand in emerging regions such as Asia Pacific and the Middle East, driven by accelerating construction and infrastructure development, significantly increases the consumption of phthalate plasticizers.
• Robust coatings and paints sector growth supports increased use of phthalic anhydride in alkyd resin formulations for industrial and architectural applications.
• Expansion of automotive manufacturing and composite materials applications favor unsaturated polyester resins, in which phthalic anhydride is a critical intermediate.
• Urbanization and rising disposable incomes in developing markets sustain broader consumption of PVC products in consumer goods and commercial applications.
Despite challenges such as feedstock volatility, these growth drivers provide a solid foundation for sustained market expansion.

Phthalic Anhydride Market Segmentation Analysis
The Phthalic Anhydride Market is segmented by application and geography:
• By Application: The market is categorized into plasticizers, unsaturated polyester resins, alkyd resins, and others. Plasticizers are anticipated to dominate the market share throughout the forecast period due to their extensive use in flexible PVC. Unsaturated polyester resins and alkyd resins represent expanding segments driven by demand in composites, coatings, and fiberglass applications.
• By Geography: The market’s demand is evaluated across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to remain the largest regional market, supported by rapid industrial growth, low production costs, and expansive infrastructure development. North America and Europe also sustain steady demand due to established manufacturing bases and specialty applications. Emerging markets in Latin America and the Middle East contribute to incremental growth.

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REGIONAL INSIGHTS
• Asia Pacific: Dominates the global market share, driven by rapid urbanization, expanding industrial output, and increased consumption of flexible PVC, particularly in China, India, and Southeast Asian countries.
• North America: Demand is bolstered by the use of phthalic anhydride in alkyd resins for industrial coatings and specialty formulations, along with steady construction activity.
• Europe: Growth is supported by utilization in unsaturated polyester resins for lightweight composites in automotive and marine applications, aligning with regional sustainability goals.
• Latin America & Middle East & Africa: Incremental demand is observed through construction expansion and industrialization initiatives, elevating consumption of plasticizers and resin intermediates.

KEY INDUSTRY DEVELOPMENTS
Phthalic anhydride market dynamics reflect strategic developments, including expansion of production capacity and forward integration into derivative products. Key developments highlighted in the industry include:
• Surging production capabilities to meet the pent-up demand for flexible PVC and industrial resins.
• Focus on value chain integration, where manufacturers strengthen supply reliability by backward integrating into ortho-xylene feedstock and forward integrating into plasticizers and resin intermediates.
• Applications diversification with increased deployment in composites, coatings, and specialty chemicals to capture high-margin markets.
As industry competition intensifies, these developments are expected to reinforce operational efficiency and drive long-term market growth.

The Phthalic Anhydride Market is primed for steady growth through 2034, propelled by expanding end-use industries, regional demand shifts, and strategic industry initiatives. With flexible PVC and resin applications at the heart of this growth, stakeholders are poised to capitalize on emerging opportunities
across multiple global regions.

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Acetic Acid Market Share

Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
+1 833-909-2966
sales@fortunebusinessinsights.com

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