Thailand Phthalic Anhydride Market: Import Trend Analysis
Thailand import trend for phthalic anhydride experienced significant growth from 2023 to 2024, with a growth rate of 28.43%. The compound annual growth rate (CAGR) for the period 2020-2024 stood at 1.81%. This robust import momentum can be attributed to increased demand from various industries, indicating a positive market stability and strong trade dynamics during the period.
Phthalic anhydride Market: Thailand vs Top 5 Major Economies in 2027 (Asia)
By 2027, Thailand's Phthalic anhydride market is forecasted to achieve a stable growth rate of 2.90%, with China leading the Asia region, followed by India, Japan, Australia and South Korea.
Thailand Phthalic Anhydride Market Synopsis
The phthalic anhydride (PAN) market in Thailand was valued at USD 17.04 million in 2025 and is estimated to reach a value of USD 22.12 million with a CAGR of 4.8% over the forecast period. Increasing industrialization leading to higher product demand from downstream industries such as automotive coatings, printing Inks & dyes, resins & polymers are driving factors that are contributing towards industry growth over the forecast period 2025-2031. Additionally, high production capacity coupled with low cost manufacturing facilities makes Thailand one of the most attractive destinations for PAN producers worldwide which further helps support growth prospects within this segment over coming years
Drivers of the Market
The phthalic anhydride market in Thailand is influenced by its use as a key ingredient in the production of plasticizers, coatings, and resins. The growth of the plastics and construction sectors drives the demand for products that incorporate phthalic anhydride. Major manufacturers like BASF and ExxonMobil contribute to the availability of this chemical in the market.
Challenges of the Market
Environmental regulations and shifting consumer preferences challenge the phthalic anhydride market. Phthalic anhydride is used in the production of plasticizers, which have faced scrutiny due to potential health and environmental impacts. Regulatory changes and the demand for more sustainable materials drive the market toward alternative solutions.
COVID-19 Impact on the Market
The phthalic anhydride market experienced challenges as manufacturing activities decreased. Sectors like plastics, coatings, and textiles, which use phthalic anhydride, were impacted by the economic slowdown.
Key Players in the Market
In the phthalic anhydride market, companies like Perstorp Holding AB and Shandong Hongxin Chemicals Co., Ltd. stand out. These players produce phthalic anhydride, a key chemical used in plastics and resins.
Key Highlights of the Report:
- Thailand Phthalic anhydride Market Outlook
- Market Size of Thailand Phthalic anhydride Market, 2025
- Forecast of Thailand Phthalic anhydride Market, 2032
- Historical Data and Forecast of Thailand Phthalic anhydride Revenues & Volume for the Period 2022-2032F
- Thailand Phthalic anhydride Market Trend Evolution
- Thailand Phthalic anhydride Market Drivers and Challenges
- Thailand Phthalic anhydride Price Trends
- Thailand Phthalic anhydride Porter's Five Forces
- Thailand Phthalic anhydride Industry Life Cycle
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Process Type for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By O-Xylene Catalytic Oxidation for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Napthalene Catalytic Oxidation for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Applications for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Plasticizer for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Polyester Resin for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Alkyd Resin for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Polyester Polyols for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Dyes for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Medicine for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Insecticides for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Others for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By End-users for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Automotive & Transportation for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Building & Construction for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Paints & Coatings for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Marine for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Electrical & Electronics for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Plastics for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Agriculture for the Period 2022-2032F
- Historical Data and Forecast of Thailand Phthalic anhydride Market Revenues & Volume By Others for the Period 2022-2032F
- Thailand Phthalic anhydride Import Export Trade Statistics
- Market Opportunity Assessment By Process Type
- Market Opportunity Assessment By Applications
- Market Opportunity Assessment By End-users
- Thailand Phthalic anhydride Top Companies Market Share
- Thailand Phthalic anhydride Competitive Benchmarking By Technical and Operational Parameters
- Thailand Phthalic anhydride Company Profiles
- Thailand Phthalic anhydride Key Strategic Recommendations
