Europe Pentaerythritol Market: Industry Analysis and Forecast (2023-2029) Trends, Statistics, Dynamics, Segmentation by Product Type, Application, End User, and Country
Europe Pentaerythritol Market was valued at USD 0.51 billion in 2022. The Europe Pentaerythritol Market size is estimated to grow at a CAGR of 5.1 % over the forecast period
Format : PDF | Report ID : SMR_929
Europe Pentaerythritol Market Definition:
Pentaerythritol or 2, 2 bis (hydroxymethyl) propane 1, 3 diol is an odourless white, crystalline, solid organic compound. It is tetrahydric neopentyl alcohol with chemical formula C5H12O4 and is nonhygroscopic, non-volatile, and stable in air.
Further, the Europe Pentaerythritol market is segmented by Product type, Application, End User and geography. On the basis of product type, the Europe Pentaerythritol market is segmented under Mono Pentaerythritol, Di Pentaerythritol and Tri Pentaerythritol. Based on the Application, the market is segmented under the Paint & Coatings, Cosmetics, PVC stabilizers, and others. . Based on the End User, the Europe Pentaerythritol market is segmented under the Transportation Building & Construction Electrical & Electronics, Healthcare, Packaging, and Others. By geography, the market covers the major countries in Europe i.e., Italy, Germany, United Kingdom, Russia, France and Rest of Europe For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).
Europe Pentaerythritol COVID 19 Insights:
The Covid-19 pandemic had a direct impact on the economy, affecting manufacturers' supply chains all over the Europe region and forcing them to shut down production facilities to reduce the risk of virus spread.
The COVID-19 pandemic had a significant impact on core industries such as building and construction, textiles, appliances, and automotive. Due to social distancing policies, most manufacturing plants were closed, resulting in decreased goods production.
The revenue of various industries has decreased dramatically. Total market revenues fell 2.8% to US$874 billion in 2021, with a supply chain burden of loss of more than 3 %. The government and private sectors are taking the necessary steps and working to expand the development of various companies, which will support the growth of the Pentaerythritol market.
Europe Pentaerythritol Market Dynamics:
Europe Pentaerythritol Market Drivers:
- Growing environmental awareness is also supporting the growing market
Pentaerythritol esters, which are biodegradable and less hazardous in water, are an environmentally friendly substitute for electrically transformed fluids. Properties such as high flash points and low volatility provide advantages. Pentaerythritol's resistance to heating makes it an ideal substitute for dielectric fluids used in transformers.
- Increased usage in the automobile Sector
In Europe, The extensive use of pentaerythritol in the automotive sector is one of the key factors driving the market growth. Pentaerythritol is used in the production of automotive lubricants and polyurethane foams that are integrated into vehicle interiors and door handles, bumper systems, gear knob dashboards, and seat cushions.
Furthermore, the rising demand for formaldehyde and acetaldehyde substitutes in the manufacture of paints, coatings, alkyd adhesives, plasticizers, radiation cured coatings, industrial inks, and synthetic rubber is boosting the market growth.
Europe is expected to drive demand for the pentaerythritol market, due to rapid urbanization and demand from the construction and automotive sectors, Although Europe is a mature market, and it is expected to help drive the market due to increased demand from end-use industries.
European countries such as the United Kingdom, Germany, France, Italy, and Russia are major contributors to the regional market growth due to the significant presence of automobile manufacturers as well as increased innovation and R&D activities to produce bio-based lubricants. The growing population is responsible for increased consumption of the material, which eventually contributes to market growth.
- Increasing Demand In Cosmetics Market
Pentaerythritol is used in pigment treatment creams, body lotions, and gels, hair care shampoos, conditioners, and styling, eye counter, men's care, and other products. Europe cosmetics and personal care have the largest share, accounting for US$ 85 billion in retail sales in 2021.
The cosmetics and personal care market contributes at least US$ 32.7 billion to the European economy each year. As a result, growth in the cosmetics and personal care industries will help to boost demand for Pentaerythritol during the forecast period.
Europe Pentaerythritol Market Restraints:
- Rules and Regulations in a different region
The Environmental Protection Agency's (EPA) and Registration, Evaluation, Authorisation, and Restriction of Chemicals (REAC) stringent regulations and policies are one of the major challenges to the pentaerythritol sector's development (REACH).
Pentaerythritol must be used within the specified permissible limits in F and B, adhesives and coatings, and other applications. The use of pentaerythritol is strictly regulated in United Kingdom.
In Europe, the regulation EU-No 10/2011 specifies guidelines for the use of plastic materials in indirect food additives, such as pentaerythritol. Such policies may have a negative impact on market growth in the forecast period.
- Fluctuation In Application Prices
Fluctuating Application prices and high manufacturing costs limit market growth during the forecast period. As a result, the machines and equipment used are expensive, and these machines require extensive maintenance, resulting in high manufacturing costs for pentaerythritol.
Due to this factor, pentaerythritol is more expensive than alternative materials and tends to limit market growth. Also, even if pentaerythritol gives better results, customers usually prefer lower costs. These factors have become a major consumption challenge for pentaerythritol and are limiting market growth.
- Threats of Substitutes
There are various types of substitutes available in the market like PU resins, Acrylic resin, Epoxy, and others. These substitutes are easily available in the market. And this will get at a reasonable price also. Availability of this ulcer native shall hamper the growth of the pentaerythritol market.
Europe Pentaerythritol Market Segment Analysis:
By Product, Mono Pentaerythritol type segments are dominating the market with a 25% share and it is expected to grow at a significant CAGR during the forecast period. The factor that is helping the growth of the Mono Pentaerythritol type segment has a wide range of applications in the production of alkyd resins, fatty acid esters for the synthesis of lubricant oils, and additives.
Europe Apparel market of valued at 498.10 Bn in 2021 and it will reach 585.12 Bn by the 2027. The Europe Apparel market is expected to grow at a CAGR of 2.72%through the forecast period. Women Apparel is the largest segment in Europe Apparel Market, Which valued at 270.60 Bn in 2021.
By Application, The Paint & Coatings segment is expected to grow significantly during the forecast period, accounting for more than 37.7% of the market share in 2021. The growing demand for Paint & Coatings in the building and construction, aerospace, automobile, and other industries is driving the Pentaerythritol market.
These Pentaerythritol are used for interior and exterior decors in buildings and the construction business, such as paints for walls, doors, and windows. The current population of Europe is 748,508,643.Europe region population ranked three among the region of world. Europe population is equivalent to 9.76% of the total world population. As a result, the increasing use of paints and coatings in building and construction will drive up demand for Pentaerythritol during the forecast period.
Europe Pentaerythritol Market Key Players Insights:
The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.
The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the market, key players in the market, particularly in this region, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.
The objective of the report is to present a comprehensive analysis of the Europe Pentaerythritol market to the stakeholders in the industry. The report provides trends that are most dominant in the Europe Pentaerythritol market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Europe Pentaerythritol Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.
The qualitative and quantitative data provided in the Europe Pentaerythritol market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Europe Pentaerythritol market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Europe Pentaerythritol market.
The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Europe Pentaerythritol market. The report also analyses if the Europe Pentaerythritol market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.
The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Europe Pentaerythritol market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Europe Pentaerythritol market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Europe Pentaerythritol market is aided by legal factors.
Europe Pentaerythritol Market Scope:
Europe Pentaerythritol Market Scope
Market Size in 2022
USD 0.51 Bn.
Market Size in 2029
USD 0.73 Bn.
By Product Type
By End User
Europe Pentaerythritol MARKET KEY PLAYERS:
- Kropz (Kent, United Kingdom)
- EuroChem (Moscow, Russia)
- Acron Group (Veliky Novgorod, Russia)
- CARGILL PLC (Minnetonka, US)
- Shell (London, United Kingdom)
- INEOS Group (London, United Kingdom)
- Synthomer (London, United Kingdom)
Frequently Asked Questions
The segments covered in the Europe Pentaerythritol Market report are based on Product Type, Application, and End User.
The market size of the Europe Pentaerythritol Market by 2029 is expected to reach USD 0.73 Billion.
The forecast period for the Europe Pentaerythritol Market is 2022-2029.
The market size of the Europe Pentaerythritol Market in 2022 was valued at USD 0.51 Billion.
- Scope of the Report
- Research Methodology
- Research Process
- Europe Pentaerythritol Market: Target Audience
- Europe Pentaerythritol Market: Primary Research (As per Client Requirement)
- Europe Pentaerythritol Market: Secondary Research
- Executive Summary
- Competitive Landscape
- Stellar Competition matrix
- Europe Stellar Competition Matrix
- Key Players Benchmarking: - by Product, Pricing, Investments, Expansion Plans, Physical Presence, and Presence in the Market.
- Mergers and Acquisitions in Industry: - M&A by Region, Value, and Strategic Intent
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- PESTLE Analysis
- PORTERS Five Force Analysis
- Value Chain Analysis
- Stellar Competition matrix
- Europe Pentaerythritol Market Segmentation
- Europe Pentaerythritol Market, by Product Type (2022-2029)
- Mono Pentaerythritol
- Europe Pentaerythritol Market, by Application (2022-2029)
- Paint & Coatings
- PVC stabilizers
- Europe Pentaerythritol Market, by End User (2022-2029)
- Building & Construction
- Electrical & Electronics
- Europe Pentaerythritol Market, by Country (2022-2029)
- United kingdom
- Rest of Europe
- Europe Pentaerythritol Market, by Product Type (2022-2029)
- Company Profiles
- Key Players
- Company Overview
- Product Portfolio
- Financial Overview
- Business Strategy
- Key Developments
- Acron Group
- CARGILL PLC
- INEOS Group
- Key Players
- Key Findings