The global pentaerythritol market is anticipated to reach USD 2.34 billion in 2026 and is estimated to grow at a CAGR of 6.1 % from 2018 to 2026. Pentaerythritol market is anticipated to witness significant growth over the forecast period. Pentaerythritol, an environment-friendly raw material has an advantage of utilizing it as a material for manufacturing. It has a greener process of chemical reactions which leads to the less wasteful material. The overall amount of pollution and waste can be reduced by finding ways to embed greener raw material in the current process, which is still using the non-green material.
By using alcohols on a huge industrial scale of the reaction, both acetaldehyde and formaldehyde can be formed which will not waste resources. Formaldehyde can be synthesized from the oxidation of CH3OH (methanol, wood alcohol) with approximately 90% yield. Since the above-mentioned materials can be procured from nature, the preparation results in a greener reaction.
Owing to eco-friendly nature, pentaerythritol is a greener and useful material to use. The preparation of it creates very less waste and is created from materials which are derived naturally. It is created by condensing formaldehyde (CH2O) and acetaldehyde (CH3CHO) in a liquid solution with the presence of sodium hydroxide (NaOH), a strong basic hydroxide.
The raw materials of pentaerythritol including methanol, acetaldehyde, and formaldehyde are used in various applications such as automotive, food & beverage, pulp & paper bleaching, medical, and agriculture. The end use application is growing in a significant manner over the forecast period. The already scarcity of aforementioned raw materials is depleting over the time which makes it more scarce.
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Alkyd paints application segment had the highest market penetration in 2013. The segment is also expected to show the highest growth rate over the forecast period. Owing to less price and its toughness, alkyd coating is more common than natural oil paints. Based on oil coating, few applications include residential trim, cabinets, furniture, and doors. Moreover, metal doors & railings, and industrial equipment are its few applications.
Alkyd ink and plasticizers emerged as the second-largest segment in terms of growth rate but have a low penetration rate. The increase in demand for pentaerythritol is expected to propel the growth of alkyd inks. The alkyd ink includes properties such as film foaming, pigment interaction. Phthalate is the most generally expended kind of plasticizers, with low phthalates being at the cutting edge. DOP is broadly utilized as a universally useful plasticizer particularly with PVC.
Taking lubricants into consideration, the market size, as well as the penetration in the market, is low as compared to other applications. The year on year growth of lubricant is low owing to high drain out time which reduces the consumption of the same. Lubricants are also open to the volatility of price owing to crude oil as a source. Fluctuation in prices of crude oil is expected to affect the cost and price of lubricants which in turn is forecasted to persist low market size and low penetration rate.
Pentaerythritol is majorly bought in bulk by the companies wherein the buyer and supplier enter into long term contract thus contributing favorably to buyer power. The importance of pentaerythritol for various end use customers, contributes negatively to buyer power. The bargaining power increases because of negligible difference of the pentaerythritol with every supplier. Hence, the bargaining power of buyer for pentaerythritol is moderate owing to aforementioned factors.
Polaris Market Research has segmented the global pentaerythritol market on the basis of application and region:
Pentaerythritol Application Outlook (Revenue, USD Million, 2015 – 2026)
- Alkyd Paints
- Alkyd inks
- Alkyd adhesives/sealants
- Alkyd Varnishes
- Radiation Cure Coatings
Pentaerythritol Regional Outlook (Revenue, USD Million, 2015 – 2026)
- North America
- U. S.
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA