India Phthalic Anhydride Market to Grow with a CAGR of 3.54% through 2030
Expanding Textile Industry is expected to drive the India Phthalic
Anhydride Market growth in the forecast period, 2026-2030.
According to TechSci Research report, “India Phthalic
Anhydride Market- By Region, Competition, Forecast and Opportunities,
2020-2030F”, the India Phthalic Anhydride Market achieved a total market
volume of 201.22 Million Tonnes in 2024 and is anticipated to grow with a CAGR
of 3.54% through 2030. The textile industry is increasingly
concentrating on high-performance and specialty fabrics, which often require
advanced coatings and resins where phthalic anhydride is essential. For
example, resins derived from phthalic anhydride are utilized to create durable,
weather-resistant, and flexible materials vital for technical textiles and
sportswear. These advanced textiles, which demand properties like water
resistance, flame retardancy, and UV protection, rely on phthalic
anhydride-based products to meet these requirements.
Technical textiles, used in sectors such
as automotive, aerospace, and healthcare, are experiencing significant growth.
The resins and coatings based on phthalic anhydride offer the necessary
durability and performance for these specialized applications. The development
of high-strength composites and other advanced materials for technical textiles
further drives the demand for phthalic anhydride.
The overall increase in textile
production, driven by both domestic consumption and export growth, fuels the
need for phthalic anhydride-based materials. Innovations in textile
manufacturing that integrate advanced materials and coatings also contribute to
the rising use of phthalic anhydride-based products. Additionally, the fashion
industry's emphasis on innovation and high-quality materials boosts demand for
flexible and durable textiles, enhanced by phthalic anhydride-based
plasticizers. The expanding textile industry in India,
with its broad applications and evolving needs, significantly drives the demand
for phthalic anhydride. The chemical’s role in enhancing the performance and
functionality of textiles makes it a critical component in this growing market
segment.
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The India Phthalic Anhydride Market is segmented into type,
sales channel, end
user, regional distribution, and company.
Based on the type, the Isophthalic
Anhydride emerged as the fastest growing segment in the Indian market for Phthalic
Anhydride during the forecast period. Isophthalic Anhydride (IPA) plays a crucial role in
the production of high-performance unsaturated polyester resins, which are used
in automotive components, industrial machinery, and construction materials.
These resins are known for their enhanced durability, chemical resistance, and
thermal stability. IPA-based resins are also employed in advanced composites,
increasingly utilized in sectors such as aerospace, automotive, and marine for
their lightweight and high-strength characteristics. The superior performance
attributes of IPA-based resins, including their high chemical resistance,
thermal stability, and mechanical strength, make them ideal for demanding
applications across various industries. The rapid growth of IPA is fueled by
its versatility in high-performance applications, improvements in production
technology, and rising demand in innovative fields like automotive and
aerospace, establishing it as a rapidly expanding segment in the phthalic
anhydride market.
Based on the region, the South India emerged as the
fastest growing region in the Indian Phthalic Anhydride market during the
forecast period. States
such as Tamil Nadu, Karnataka, Andhra Pradesh, and Telangana are undergoing
significant industrial growth. Tamil Nadu has become a key location for
automotive and industrial manufacturing, with major companies like Hyundai,
Ford, and Nissan establishing production facilities there. This expansion
drives up the demand for phthalic anhydride, particularly in plasticizers for
automotive components. Karnataka serves as a central hub for IT and
manufacturing, including chemicals and automotive industries, further
increasing the need for phthalic anhydride across various applications. The
Chennai and Vishakhapatnam Ports play a crucial role as major trade centers,
supporting the import of raw materials and the export of finished products,
thus boosting industrial activity and market reach. Andhra Pradesh is actively
developing industrial corridors and offering incentives to attract
manufacturing investment, exemplified by initiatives such as the Sri City
Industrial Park, which accommodates numerous chemical and automotive firms. The region’s infrastructure investments
in roads, buildings, and urban development are also driving higher consumption
of phthalic anhydride-based products. As the Southern region continues to
advance economically, the demand for industrial products, including those
utilizing phthalic anhydride, is growing rapidly, fueled by the expansion of
industrial sectors and new market applications.
Major companies operating in India Phthalic Anhydride Market
are:
- IG Petrochemicals Limited
- Thirumalai Chemicals Ltd.
- SI Group - India Private
Limited
- BASF India Limited
- LGC Petrochemical India Pvt.
Ltd.
- OCI Company Limited
- KLJ Group
- Vizag Chemical International
- Aekyung Petrochemical Co.,
Ltd.
- Sanjay Chemicals India Pvt
Ltd.
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“The Indian phthalic anhydride market is rapidly
advancing, significantly influencing the pharmaceutical and paints industries.
In pharmaceuticals, it plays a critical role in producing specialized drug
intermediates and enhancing packaging materials, which improves drug stability
and delivery. In the paints sector, phthalic anhydride is crucial for creating
high-performance alkyd resins known for their superior durability and finish.
As India's industrial and consumer sectors expand, the demand for phthalic
anhydride in these areas is expected to propel market innovation and growth”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
“India Phthalic Anhydride Market By Type (Ortho-Phthalic Anhydride, Isophthalic Anhydride, Terephthalic Anhydride), By Sales Channel (Direct, Indirect), By End User (Automotive, Construction, Textiles, Electrical and Electronics, Pharmaceuticals, Paints & Coatings, Others), By Region, Competition, Forecast and Opportunities, 2020-2030F”, has evaluated
the future growth potential of India Phthalic Anhydride Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Phthalic Anhydride Market.
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