New York
City, 28 January 2019: 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.
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.
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