The Latin America, Middle East and Africa Phthalic Anhydride Market would witness market growth of 5.4% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 426.6 Kilo Tonnes, showcasing a growth of 5.2% (2023-2030).
The primary raw materials for phthalic anhydride production are ortho-xylene and naphthalene. Fluctuations in the availability and pricing of these feedstocks can significantly impact the overall production cost of this. Manufacturers closely monitor feedstock trends and often adopt strategies to diversify sources to mitigate risks associated with volatility. A complex regulatory environment influences the market. Regulatory standards related to environmental protection, health, and safety can impact production processes, waste disposal practices, and product quality.
Economic conditions on a large scale, including GDP growth, inflation rates, and industrial output, directly impact the demand for products derived from these. Economic downturns can lead to decreased manufacturing activities and subsequently affect the demand for this. Ongoing research and development efforts in the field of phthalic anhydride production technologies can influence market dynamics. Innovations in catalysts, process intensification, and sustainability initiatives are key factors that can enhance production efficiency, reduce costs, and open up new opportunities for market players.
The level of industrialization and overall economic growth in the LAMEA region plays a significant role in the demand for chemicals, including these. Growing industrial activities and infrastructure development contribute to increased consumption. The increasing use of plastics and polymers in various applications, including packaging and consumer goods, contributes to its demand. These materials often require plasticizers in their production. The LAMEA region's integration with the market and trade dynamics influences the availability and pricing of these. Economic trends and demand impact the regional market. Over AED 21 billion was invested in the chemical industry in 2021, according to the Industrial Development Bureau of the United Arab Emirates (UAE). As a result, these aspects will boost the market growth in the coming years.
The Brazil market dominated the LAMEA Phthalic Anhydride Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $172.8 million by 2030. The Argentina market is showcasing a CAGR of 6.5% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 5.7% during (2023 - 2030).
Free Valuable Insights: The Worldwide Phthalic Anhydride Market is Projected to reach USD 5.3 Billion by 2030, at a CAGR of 4%
Based on Process, the market is segmented into O-Xylene Catalytic Oxidation, and Naphthalene Catalytic Oxidation. Based on Application, the market is segmented into Plasticizers, Alkyd Resins, Unsaturated Polyester Resins, and Others. Based on End-Use, the market is segmented into Building & Construction, Paints & Coatings, Automotive, Electrical & Electronics, Agriculture, Marine, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Process
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By End-Use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.