Phthalic anhydride, with the chemical formula C8H4O3, is a product of the dehydration of phthalic acid at high temperatures and is an important organic compound. Phthalic anhydride is a white or light yellow solid with a high melting point, heat resistance, corrosion resistance, oxidation resistance, and other characteristics. Therefore, it is widely used in the production of various plastics, resins, coatings, dyes, and other materials.

The derivatives of phthalic anhydride refer to compounds obtained by reacting with other chemical substances using phthalic anhydride as the basic structural unit. These compounds are chemically similar to phthalic anhydride but have different physical and chemical properties and application fields. Common derivatives of phthalic anhydride include phthalic acid esters, phthalic acid amines, and esters of phthalic anhydride.

Overview of Market Development and Analysis of Segmented Markets

In recent years, the global market for phthalic anhydride and its derivatives has continued to steadily develop, mainly due to its unique physical and chemical properties, as well as its importance in various industrial applications. From medical, cosmetics, and food packaging to electronic devices, phthalic anhydride and its derivatives have a wide range of applications and high market demand. According to our research data, the total revenue of the global market for phthalic anhydride and its derivatives reached $10.43 billion in 2023.

During the forecast period, it is expected that the global market for phthalic anhydride and its derivatives will maintain stable growth. On the one hand, the rapid development of emerging markets will provide sustained momentum for the industry; On the other hand, with the advancement of technology and the expansion of application areas, the demand for high-performance and environmentally friendly phthalic anhydride and its derivatives in the market will further increase. It is expected that by 2028, the global market revenue of phthalic anhydride and its derivatives will increase to $12.643 billion.

From the perspective of product types, according to different preparation methods (sources), phthalic anhydride can be divided into two categories: phthalic anhydride obtained by catalytic oxidation of ortho-xylene and phthalic anhydride obtained by catalytic oxidation of naphthalene. Among them, phthalic anhydride obtained by catalytic oxidation of orthoxylene dominates the market.

Source: www.globalmarketmonitor.com

Analysis of Market Development in Major Regions/Countries

From a regional perspective, the Asian market dominates the demand for phthalic anhydride and its derivatives. Although the European and North American markets are mature, demand is relatively stable due to their high level of industrialization. From a national perspective, countries such as China and Japan, due to their vast manufacturing base and constantly developing economies, have seen a sustained increase in demand for these chemicals. Data shows that in 2023, the market revenue of phthalic anhydride and its derivatives in China reached $4353 million, accounting for 41.73% of the global total revenue, making it the largest revenue market in the industry.

Global Phthalic Anhydride and Derivative Market Revenue and Share by Region/Country in2023

Regions/Countries	Market Revenue (Million USD)	Share
North America	1142	10.94%
Europe	1372	13.15%
China	4353	41.73%
Japan	317	3.04%
Others	3248	31.13%

Source: www.globalmarketmonitor.com