The Global Hexahydrophthalic Anhydride HHPA Market size is expected to grow from about USD 3.5 billion in 2020 to nearly USD 5.3 billion by 2028, at an estimated CAGR of 4.8% during the forecast period 2021-2028. North America will continue to be the largest regional market for hexahydrophthalic anhydride HHPA during the forecast period and is projected to account for over 40% of global demand by 2028. The major growth drivers have increased production capacities, increasing R&D activities, robust end-user industries, and a growing number of new product launches by key players across the globe.
Hexahydrophthalic anhydride HHPA is a colorless crystalline powder with the formula CHClO, which has low toxicity and good chemical resistance. It can be prepared by reacting phthalic anhydride with hexamethylene diamine in the presence of heat or strong bases like sodium methoxide (NaOMe) or potassium hydroxide (KOH). The resulting product is usually purified through fractional distillation before use.
The HHPA molecule is primarily used in the production of coatings (e.g., varnishes, paints) and plasticizers for PVC plastics. It's also utilized as a solvent or reactant to make other chemical compounds such as acrylates and polyester-type resins. This compound can be found predominantly in paint removers, lubricating oils, and solvents being developed at this time due to its multiple applications that include agriculture, pharmaceuticals, engineering industries among others.
On the basis of Types, the market is segmented into Purity Above 99% and Purity Below 99%.
Hexahydrophthalic Anhydride's purity level exceeds 99% because it contains no water or other chlorine-containing impurities that could react during use in industrial applications.
Purity below 99% is a form of HHPA which has purity in the range from 90.0 to 99%. It can be used for various applications such as coating resins, plasticizers, and others.
On the basis of Application, the market is segmented into Coating Resins, Plasticizers, and Others.
Hexahydrophthalic anhydride HHPA is applied for improving the hardness and solvent-resistance of coatings. Hexahydrophthalic anhydride is also used as a component that imparts acidic, alkaline-resistant properties among thermoplastics including styrene-acrylonitrile (SAN), urethane elastomers, PVC plastics, etc.
Hexahydrophthalic anhydride is used in the production of plasticizers which are added to polymers for improving their flexibility and durability. The key application of HHPA is as a compounding agent for synthetic rubber, PVC, ABS plastics, acrylics, and epoxy resins. Some other applications include use in oil well drilling fluids, lubricants such as greases and oils.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North American market holds the largest share of the Hexahydrophthalic anhydride HHPA Market due to its significant use as a component for making plasticizers that are widely used in construction industries such as PVC pipes, electrical insulation products like cable jacketing, etc.
The growth in the global hexahydrophthalic anhydride HHPA market is driven by a number of factors. The need for industry expansion, rising standards of living, and increasing demand from various end-user applications are key driving forces powering this market’s future growth prospects. Other reasons include strong government support, reduced cost owing to technological advancements as well as low penetration levels among consumers coupled with high potential for product diversification.
Increasing the use of HTPA in coatings resins and plasticizers will boost revenue over the forecast period at constant prices (2021 – 2028). This trend is expected to continue given that there are many opportunities to develop products based on this chemical compound which offer superior properties such as heat resistance along with improved gloss and good adhesion.
Up Market Research published a new report titled “Hexahydrophthalic Anhydride HHPA Market research report which is segmented by Types (Purity Above 99%, Purity Below 99%), By Applications (Coating Resins, Plasticizers, Other), By Players/Companies Dixie Chemical Company, Polynt, New Japan Chemical, Hefei TNJ Chemical, Alpharm Chemical Technology, Ruiji Chemical, AN YA PLASTICS, Puyang Huicheng Electronic Material”.
|Report Attributes||Report Details|
|Report Title||Hexahydrophthalic Anhydride HHPA Market Research Report|
|By Type||Purity Above 99%, Purity Below 99%|
|By Application||Coating Resins, Plasticizers, Other|
|By Companies||Dixie Chemical Company, Polynt, New Japan Chemical, Hefei TNJ Chemical, Alpharm Chemical Technology, Ruiji Chemical, AN YA PLASTICS, Puyang Huicheng Electronic Material|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||222|
|Number of Tables & Figures||156|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Purity Above 99%, Purity Below 99% and By Application Coating Resins, Plasticizers, Other.
Some of the companies that are profiled in this report are:
Hexahydrophthalic Anhydride HHPA Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Hexahydrophthalic Anhydride HHPA Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
Reasons to Purchase the Hexahydrophthalic Anhydride HHPA Market Report:
Some other reports from this category!