Pentaerythritol Market Size To Reach $34.61 Billion By 2030

Pentaerythritol Market Growth & Trends

The global pentaerythritol market size is expected to reach USD 34.61 billion by 2030, and is expected to grow at a CAGR of 43.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Strong shift towards the use of pentaerythritol as a substitute for electrical transformer fluid is expected to drive global pentaerythritol market. Growth of key end-use industries such as construction and automotive particularly in emerging markets of Asia Pacific and Latin America is also expected to impact the market growth positively. Overlapping of formaldehyde and acetaldehyde with other key applications and volatile raw material prices are expected to remain key challenges for market participants.

Paints and coatings emerged as the leading application segment and accounted for 32.39% of the total market volume in 2023. Increasing use of Paints and coatings in the automotive and construction industries is expected to remain a key driving factor for this segment. Paints and coatings is also expected to witness the highest growth rate of 43.2% over the forecast period. Global pentaerythritol demand for plasticizers is expected to grow at an estimated CAGR of 43.2% from 2024 to 2030.

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Pentaerythritol Market Report Highlights

• The global pentaerythritol market size was valued at USD 2.80 billion in 2023 and is expected to grow at a CAGR of 43.2% from 2024 to 2030

• Asia Pacific was the leading regional market and accounted for 24.5% of the total volume in 2023. Increasing construction spending coupled with a positive outlook on the automotive industry particularly in high growth countries such as China, India, and Indonesia is expected to drive the regional pentaerythritol market. Asia Pacific is also expected to witness the highest growth rate of 43.7% from 2024 to 2030.

• Europe and North America are mature markets for pentaerythritol and are expected to grow relatively slower than other high growth regions. Recovery of the automotive industry in the U.S. post the economic recession in 2008-09 is expected to drive the North American pentaerythritol market. The growth of the construction industry in Mexico is also expected to complement the regional market growth.

• The pentaerythritol market in North America accounted for the dominant market share with 40.5% in 2023 owing to the rising demand in the automotive industry

Pentaerythritol Market Segmentation

Grand View Research has segmented the global pentaerythritol market report based on product, application and region:

Pentaerythritol Product Outlook (Revenue, USD Million, 2018 - 2030) (Volume in Kilotons)

• Mono-Pentaerythritol

• Di-Pentaerythritol

• Tri-Pentaerythritol

Pentaerythritol Application Outlook (Revenue, USD Million, 2018 - 2030) (Volume in Kilotons)

• Paints & Coatings

• Lubricants

• Plasticizer

• Explosives

• Agriculture

• Others

Pentaerythritol Regional Outlook (Revenue, USD Million, 2018 - 2030) (Volume in Kilotons) 

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • Saudi Arabia

  • South Africa

List of Key Players of Pentaerythritol Market

• Ercros SA

• KH Chemicals

• Perstorp

• Chemanol

• HUBEI YIHUA CHEMICAL INDUSTRY CO., LTD

• Chifeng Ruiyang Chemical Co.,Ltd

• Henan Pengcheng Group

• Samyang Chemical Corporation

• Solventis

• Yuntianhua Group Co., Ltd.