PUBLISHER: Grand View Research | PRODUCT CODE: 1571594
PUBLISHER: Grand View Research | PRODUCT CODE: 1571594
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.