Rockville, MD, July 08, 2024 (GLOBE NEWSWIRE) -- The global dianhydride market is expected to be valued at US$ 750.4 million in 2024. Based on this updated research report by Fact.MR, the market is projected to expand at a CAGR of 6.2% from 2024 to 2034 and is forecasted to reach US$ 1.37 billion by the end of the forecast period.
The market for dianhydrides is being driven by rising demand for resins, adhesives, and high-performance materials. Phthalic anhydride, pyromellitic dianhydride, and other specialty chemicals are the raw ingredients utilized to make dianhydrides. Used as monomers to create polyamides, high-temperature resistant polymers are employed in electronics, automotive, and aerospace.
As a cross-linking agent, it is used to create coatings and adhesives for various sectors, including aerospace, automotive, and construction. Manufacturers are aiming to utilize the wonderful cross-linking property of dianhydride for specific applications in different end-use verticals by working together with producers while still targeting resin production as the major application.
North America and East Asia together account for well over half of global sales of dianhydride and will continue to be leaders over the next decade. Below 98% purity is preferred as far as dianhydride is concerned, with this variant accounting for close to two-thirds sales.
For More Insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=7370
Key Takeaways from the Dianhydride Market Study:
- The market in North America is projected to expand at a CAGR of 6.4% and offer an absolute $ opportunity of US$ 172.1 million between 2024 and 2034.
- The worldwide market is calculated to generate an absolute opportunity of US$ 619 million by 2034.
- East Asia is expected to hold 30.9% market share in 2024 and create an absolute $ opportunity of US$ 205 million between 2024 and 2034.
- Application in resin production is expected to generate an absolute dollar opportunity of US$ 253.6 million over the next ten years.
- The market for dianhydride in China is forecasted to reach US$ 257.3 million by the end of 2034.
"Companies will continue to invest in capacity expansion and new product development in the years ahead to meet changing consumer demands, with the functions of additives and precursors remaining strong drivers,” says a Fact.MR analyst.
Dianhydride Industry News:
- The purpose of the joint venture between Mitsubishi Gas Chemical firm and a Chinese firm was to build a new dianhydride production facility in China in March 2024 to meet the country's growing demand while reducing costs and boosting capacity.
- In the most recent version of the market study, Fact.MR has offered comprehensive details regarding the pricing points of major dianhydride manufacturers positioned across geographies, sales growth, production capacity, and speculative technological expansion.
Market Growth Amid High Competition and Complexity
From 2024 to 2034, the U.S. dianhydride market is expected to grow at a CAGR of 6.5%, driven by increasing investments in infrastructure and industry. By 2024, the market is projected to reach US$ 139.5 million, offering an absolute dollar opportunity of US$ 121.7 million from 2024 to 2034.
Growth opportunities for dianhydride suppliers in the U.S. are expected due to rising demand across industries such as electronics, automotive, and aerospace. Additionally, U.S. government initiatives to enhance domestic production and reduce reliance on international supply chains will benefit local suppliers. However, the market remains highly competitive due to established companies and significant import duties.
Get Customization on this Report for Specific Research Solutions: https://www.factmr.com/connectus/sample?flag=S&rep_id=7370
Leading Players Driving Innovation in the Dianhydride Market:
Key industry participants like Boshan Hengtai Chemical Factory, CABB Chemicals, Daikin Chemicals, Evonik, Fanxian Guofeng Fine Chemical Co., Ltd., Fanxian Senyuan Chemical Industry Co., Ltd., Fengchen Group Co., Ltd., Hualun, Huangshan Deping Chemical Co., Ltd., Liyang Qingfeng Fine Chemical Co., Ltd., Mitsubishi Gas Chemical Company, Nexam Chemical, Puyang Longde Young New Material Co., Ltd., Puyang Shenghuade Chemical Co., Ltd., Rugao Leheng Chemical Co., Ltd., Shandong Helishi Petrochemical Technology Development Co., Ltd., Shijiazhuang Hope Chemical Co., Ltd., and UIV Chem., are driving the global dianhydride industry.
More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of the global dianhydride market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034
The study reveals essential insights based on compound (pyromellitic dianhydride (PMDA), benzophenone tetracarboxylic dianhydride (BTDA), hexafluoroispropylidene diphthalic anhydride (6-FDA), others (CBDA, ODPA, CHDA, etc.), purity (below 98%, above 98%), function (additives, precursors, curing agents, chain extenders), and application (resin production, adhesive production, coating production, molding powder production, lubricant production, others), across seven key regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and the Middle East & Africa).
Check out More Related Studies Published by Fact.MR Research:
Tetrahydrofuran Market will grow from $2.5 billion in 2024 to $5.1 billion by 2034, with a CAGR of 7.5%.
Ethylene Diamine Tetraacetic Acid (EDTA) Market is projected to grow at a CAGR of 4.2%, reaching $2.36 billion by 2033.
Plastic Waste Pyrolysis Oil Market is projected to reach $269.4 million in 2024 and grow at a 14.1% CAGR to $1 billion by 2034.
Hexamethylenediamine Market is expected to reach $17 billion by 2033, growing at a CAGR of 8.5% from 2023 to 2033.
Maleic Anhydride Market is expected to grow at a CAGR of 3.4%, reaching $4.1 billion by 2032.
Niobium Hydride Market is forecast to grow to US$ 67 million by 2032, expanding at a high CAGR of 5.4%.
Electrical Steel Market has been forecasted to expand at 8.5% CAGR and reach $69.4 billion by 2034.
Hexane Market is valued at $2.36 billion in 2024, projected to reach $3.26 billion by 2034 with a 3.3% CAGR.
Polycoated Cup Stock Market is poised for consistent growth through 2031, with global sales projected to increase by 5.2% by 2021
Construction Adhesive Market's Growth Journey to 2034.
About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.
With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.
Contact:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team: sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog
