PYROMELLITIC DIANHYDRIDE (PMDA) MARKET REPORT OVERVIEW
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The global pyromellitic dianhydride (PMDA) market size is anticipated to be worth USD 157.3 million in 2022 and is projected to touch USD 532.86 million by 2031 with a CAGR of 13.0% during the forecast period.
Pyromellitic Dianhydride is an organic chemical compound. It is a form of double carboxylic acid anhydride which is significantly used in the preparation of polyimide polymers like Kapton. This compound forms a hydrate, is white in color and is also a hygroscopic solid. It also undergoes hydrolysis when it comes in contact with the moisture that is present in the surroundings.
The production of functional peroxide and peroxy oligoesters using PMDA has been the latest trend in the market. Vast application and superior features of pyromellitic dianhydride and dependency of coating and thermoplastics industry on PMDA are the factors driving the market growth.
COVID-19 impact: Plant Shutdowns in Asia Pacific, North America And, Europe Reduced the Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the pyromellitic dianhydride (PMDA) market growth and demand returning to pre-pandemic levels once the pandemic is over.
The COVID-19 pandemic caused a disruption in all the industries and markets throughout the world. It forced all the countries to impose lockdowns and social distancing norms. Due to this there was a steep decline in the global economic curve. The pyromellitic dianhydride industry was not an exception and experienced a huge loss during the pandemic period.
There was a massive disruption in the demand-supply chain and equilibrium across all industries, especially in the chemical industry which brought down the Pyromellitic Dianhydride (PMDA) market share. Another major reason was the shutdown of the plants and factories in key production regions such as Asia, North America and Europe in the later quarter of 2020 that reduced the scale of production in the pyromellitic market. The increase in the price of raw materials, non-availability of skilled workers were also some reasons that led to the fall of market share during the pandemic.
LATEST TRENDS
"Production of Functional Peroxide and Peroxy Oligoesters to Increase the Market Growth"
New developments and discoveries are being done everyday in all the fields, especially in the field of science and chemicals. Chemists are constantly working on finding new chemicals. One such new discovery that can be witnessed in the Pyromellitic Dianhydride (PMDA) market is the production of functional peroxide and peroxy oligoesters using pyromellitic dianhydride.
The manufactured chemicals have various applications and can be used for producing other chemical and organic compounds that are used in many industries. New methods are also being found out to produce better quality chemicals. Recently there has been a great demand for high-purity pyromellitic dianhydride as it can be used in the manufacturing of polyimides. These latest developments have contributed to the Pyromellitic Dianhydride (PMDA) market growth.
PYROMELLITIC DIANHYDRIDE (PMDA) MARKET SEGMENTATION
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- By Type:
The market can be divided on the basis of type into the following segments.
Purity above 98% and Purity above 99%. Purity above 98% is the segment that is expected to lead the market during the forecast period.
- By Application:
Classification based on application is as follows:
Polyimide, epoxy resin fixative, polyester resin crosslinking agent and,others. Polyimide segment that is expected to lead the market during the forecast period.
DRIVING FACTORS
"Vast Application and Superior Features of Pyromellitic Dianhydride to Increase Market Growth"
This chemical compound has certain features and characteristics that makes it suitable for manufacturing various items. It acts as a base and a primary raw material in the manufacturing process of many organic and inorganic compounds.
It is primarily used as a monomer in the production process of polyimide polymers. Kapton is one such polymer that is very widely produced with the help of this chemical compound. Epoxy resins, plasticizer, polyether and thermoplastics are also produced with this compound. It’s vast application in the production of other products has increased the Pyromellitic Dianhydride (PMDA) market share.
"Dependency Of Coating and Thermoplastics Industry on PMDA To Amplify Market Growth"
As PMDA has found application in the coating and thermoplastics industry there has been a demand for the chemical compound. It is an acidic anhydride which is mainly used as a repair agent.
It is also used as a chain extender and hence is used in the formation of chain extensions in Polyethylene Terephthalate (PET). It can be effectively used to manufacture and synthesize polyimides which are aromatic. It has excellent chemical and thermomechanical properties. Because of these superior features it is extensively used in the coating and thermoplastics industry. This has been a major factor in the market growth and development.
RESTRAINING FACTOR
"Health Issues to Decrease the Market Growth"
Pyromellitic dianhydride which is a double carboxylic acid anhydride is very reactive and can cause many dangerous reactions. When it is exposed to moisture it turns into pyromellitic acid. This chemical compound can cause some hazardous health problems.
Some studies and researches have proved that PMDA can cause occupational asthma as it is a highly reactive acid anhydride. According to a report by Milene Top Madsen there have been three cases where exposure to PMDA caused persistent asthmatic symptoms. Pyromellitic dianhydride is identified as an asthmogen in all the above-mentioned cases of asthma. This can act as a major restraining factor for the growth of the industry.
PYROMELLITIC DIANHYDRIDE (PMDA) MARKET REGIONAL INSIGHTS
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"Asia Pacific To Dominate the Market During the Forecast Period"
The region that is seen dominating the market is Asia Pacific. North America is the region that occupies the next position in the market share. Asia Pacific and North America are the major markets with high revenue returns. Many favorable factors have led to the growth of the market in Asia Pacific. Some of them include the high manufacturing capacity and huge investments that are coming in from the key players of the market. Increased production has given way to higher sales making Asia Pacific the top market share holder. The availability of resources, raw materials and men force are some of the other notable factors that have contributed to the market growth in the past few years. Also, the increase in the production of high-performance coatings and adhesive is increasing the market share.
Key Industry Players
"Leading Players adopt Acquisition Strategies to Stay Competitive "
Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.
List of Market Players Profiled
- Lonza (Switzerland)
- Jiangsu Hualun Chemical Co., Ltd. (China)
- Puyang ShengHuaDe Chemical Co., LTD (China)
- HeLiShi Petroleum & Chemical Technology Development Co., Ltd. (China)
- Shijiazhuang Hope Chemical Co., Ltd. (China)
- Puyang Long de Young New Material Co., Ltd. (South Korea)
- Boshan Hengtai Chemical Factory s(Singapore)
Report Coverage
The report provides an insight into the Pyromellitic Dianhydride (PMDA) industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 157.3 Million in 2022 |
Market Size Value By |
US$ 532.86 Million by 2031 |
Growth Rate |
CAGR of 13% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the Pyromellitic Dianhydride (PMDA) Market expected to touch by 2031?
The global Pyromellitic Dianhydride (PMDA) market is projected and estimated to touch USD 532.86 million in 2031
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What CAGR is the Pyromellitic Dianhydride (PMDA) market expected to exhibit by 2031?
The Pyromellitic Dianhydride (PMDA) market is expected to exhibit a CAGR of 13.0% by 2031.
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Which are the driving factors of the Pyromellitic Dianhydride (PMDA) market?
Vast application and superior features of PMDA and dependency of coating and thermoplastics industry on PMDA are the factors driving the Pyromellitic Dianhydride (PMDA) market growth.
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Which are the top companies operating in the Pyromellitic Dianhydride (PMDA) market?
Jiangsu Hualun Chemical Co., Ltd., Dalian Dragon Win Catalytic Company, Puyang Long de Young New Material Co., Ltd. and Boshan Hengtai Chemical Factory are the top companies operating in the Pyromellitic Dianhydride (PMDA) market.