Diisononyl Phthalate Market Size to Surpass US$ 3.25 Billion by 2033, The Brainy Insights
The global diisononyl phthalate market size is anticipated to grow from USD 2 billion to USD 3.25 billion in 10 years. The market will experience rapid growth due to technological advancements during the forecast period.
Newark, Aug. 22, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 2 billion in 2023 global diisononyl phthalate market will reach USD 3.25 billion in 2033. Diisononyl phthalate (DINP) is added to polyvinyl chloride, or PVC, to improve its characteristics. PVC is more elastic, durable, and flexible as a result of the integration. The chemical formula for DINP is C₂₆H₄₂O₄. It appears to be clear. It may have no colour at all or a light golden hue. Its melting point is elevated. PVC may be made more flexible with DINP without sacrificing its robustness or longevity. It becomes more adaptable, broadening its range of uses. It is utilised in many different industries, such as consumer goods, automotive, building and construction, and others. In the construction industry, it is utilised in the flooring, walls, roofing, and HVAC systems of buildings. In the automotive sector, it is utilised in a variety of internal and external car components.
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Key Insight of the Global Diisononyl phthalate Market
Asia Pacific will dominate the market during the forecast period.
The dominance of the regional market is fuelled by the expanding economies of the area, which are characterised by fast industrialisation, urbanisation, and population growth. The world’s fastest-growing economies include developing nations like China and India, which helps explain why growth predictions for the building and automotive industries are comparable. The consumer demand in these industries is further boosted by rising disposable income. The dominance of the regional DINP market is mostly due to the development and growth of these industries. A strong supply chain network and a well-established production infrastructure provide a steady and high-quality supply of DINP to a range of sectors. Additionally, DINP will be used in other industries like consumer products and medical devices.
In 2023, the PVC segment dominated the market with the largest market share of 41% and revenue of 0.82 billion.
The type segment is divided into PVC, acrylics, and polyurethanes. In 2023, the PVC segment dominated the market with the largest market share of 41% and revenue of 0.82 billion.
In 2023, the construction segment dominated the market with the largest market share of 38% and revenue of 0.76 billion.
The end use segment is divided into construction, automotive, consumer goods, electrical and electronics, and others. In 2023, the construction segment dominated the market with the largest market share of 38% and revenue of 0.76 billion.
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Scope of the Report:
| Report Metrics | Details |
| Market size available for years | 2024–2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Market Size in 2023 | $2 billion |
| Projected Market Value in 2033 | $3.25 billion |
| CAGR | 5% From 2024 to 2033 |
| Segments covered | Type, End-Use, Regions |
| Geographies covered | North America, Asia Pacific, Europe, Middle East and Africa, and Latin America |
| Companies covered | AEKYUNG, Azelis Group, BASF SE, Evonik Industries, ExxonMobil, KLJ Group, LG Chem, Mitsubishi Chemical Holdings Corporation, Nan Ya Plastics, UPC Technology Corporation |
Advancement in market
The American Chemistry Council’s High Phthalates Panel appreciated the opportunity to evaluate how well the best available science was applied in the preliminary risk assessment and appreciated the EPA’s efforts in creating a comprehensive risk assessment for DIDP. However, they are still carefully reviewing the draft papers. The EPA did not discover evidence to support its conclusion that DIDP causes cancer, nor did Health Canada, the European Chemicals Agency, the U.S. Consumer Product Safety Commission, or Australia’s National Industrial Chemicals Notification and Assessment Scheme. According to the Environmental Protection Agency (EPA), there is no unwarranted risk of DIDP posing a health risk to the general public, consumers, or the environment.
Market Dynamics
Driver: The growing need for PVC in the building and automotive sectors.
The building and automobile sectors have grown as a result of the fast urbanisation and industrialisation. The expanding population’s rising disposable income contributes to these businesses’ expansion as well. Both public and private entities are investing more cash in infrastructure due to the growing need for residences, workplaces, schools, hospitals, highways, bridges, airports, and urban mobility solutions. The building and automobile industries have benefited from all of these reasons. PVC is widely used in various sectors. PVC has DINP incorporated into it to improve its qualities for a better use. It improves polyvinyl chloride (PVC) product performance, flexibility, and durability, which expands PVC’s use in the building and automobile industries. It is utilised in many applications like as automotive interiors, HVAC systems, flooring, plumbing, and electrical work in structures. It also finds use in medical equipment, in addition. Therefore, the expansion of the worldwide diisononyl phthalate market will be driven by the growing demand for PVC in the automotive and construction industries.
Restraints: Risks to one’s health related to DINP.
Diisononyl Phthalate (DINP) exposure is known to disturb hormone balances and induce other hormonal abnormalities in the body, which can have negative health implications. It may harm reproductive health, leading to issues with conception. In children and teenagers, it may also result in developmental problems. Additionally, it may result in allergic reactions and rashes on the skin. Because of this, regulatory bodies now have stricter policies on the use of DINP in specific products. Consequently, DINP’s health hazards will impede the market’s expansion.
Opportunities: developments in technology.
The rising cost of research and development to improve DINP is partly due to the growing demand for DINP. Technological improvements enable and promote these discoveries and achievements. The flexibility, durability, and performance of DINP and its products have risen due to advancements in materials, formulation, and processing processes. The changes broaden the application’s scope. Its improved chemical and thermal stability, as well as its biodegradability and recyclability, make it a preferred option. As a result, during the course of the projection period, technical advances will support market growth and development.
Challenges: Market factors.
The introduction of alternatives with better product profile and less health and environmental risks will challenge the DINP market. the rising emphasis on sustainability in the face of climate change will contribute to the adoption of safer and eco-friendly alternatives over DINP. Technological advancements and product innovations have facilitated the introduction and production of better alternatives which will continue to challenge the DINP market during the forecast period.
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Some of the major players operating in the global diisononyl phthalate market are:
• AEKYUNG
• Azelis Group
• BASF SE
• Evonik Industries
• ExxonMobil
• KLJ Group
• LG Chem
• Mitsubishi Chemical Holdings Corporation
• Nan Ya Plastics
• UPC Technology Corporation
Key Segments covered in the market:
By Type
• PVC
• Acrylics
• Polyurethanes
By End Use
• Construction
• Automotive
• Consumer Goods
• Electrical and Electronics
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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