) June 16, 2022 -- As per this report by Fact.MR, a market research and competitive intelligence provider, demand for diisononyl phthalate is predicted to rise at a CAGR of 4.6% over the forecast period of 2022-2032. As of 2022, the global diisononyl phthalate (DINP) market stands at US$ 2.93 billion and is slated to increase in valuation to US$ 4.61 billion by 2032.
The world has witnessed a significant increase in the use of plastics and polymers over the past few years, and this has propelled the demand for plasticizers on a global scale. Diisononyl phthalate is a preferred plasticizer as it is economical in nature and has noteworthy temperature and weathering resistance.
However, the volatile nature of the pricing of raw materials used in DINP manufacturing is expected to have a constraining effect on global market growth. Increasing investments in research for eco-friendly products and bans on plastic products are also expected to slow down demand for diisononyl phthalate through 2032.
The presence of local market players is expected to hamper the business potential of major diisononyl phthalate manufacturers in some regions, and these companies are expected to adopt innovative strategies to strengthen their business stance to improve their business scope, thereby strengthening their global revenue generation potential.
Surge In Construction Activities in the Asia Pacific to Drive Demand for Diisononyl Phthalate (DINP) Market
The Asia Pacific regional market is anticipated to rise at a CAGR of 5.1% throughout the forecast period owing to rapid urbanization and industrialization in the region, which is fueling demand for infrastructure development.
Governments in emerging economies such as China and India are funding new projects, which are increasing construction activity and thereby driving demand for DIMP in the APAC region.
The low cost of production of DINP is also predicted to drive the growth of the diisononyl phthalate market in the APAC region. This region is expected to account for a revenue total of US$ 1.2 billion by the end of 2032 and hold a market share of 26.9% in the global landscape.
Key Takeaways from Market Study
· At present, the diisononyl phthalate market stands at a net worth of US$ 2.93 billion.
· The diisononyl phthalate market is slated to rise at a CAGR of 4.6% and attain a valuation of US$ 4.61 billion by the end of 2032.
· Increasing use of plasticizers, rising demand for plastic products in various industries, and rising construction activities are anticipated to be major factors driving diisononyl phthalate market growth.
· Volatile pricing of raw materials, ban on plastic products, and increasing investments in the research & development of eco-friendly products are factors that could restrain market growth potential.
· The North American diisononyl phthalate market is expected to account for a revenue total of US$ 1.46 billion by 2032, expanding at a CAGR of 4.7%.
· The DINP-Plasticized PVC segment is anticipated to account for a dominant market share of 38.8% by 2032.
· The floorings and wall coverings segment currently accounts for a revenue of US$ 886 million.
“Increasing demand for eco-friendly products is expected to be a major challenge for DINP market growth over the coming years,” says a Fact.MR analyst.
Key Segments Covered in DINP Industry Research
· Diisononyl Phthalate Market by Polymer Type :
-Other Polymer Types
· Diisononyl Phthalate Market by Application :
-Floorings & Wall Coverings
-Wires & Cables
-Films & Sheets
The diisononyl phthalate market is fragmented in nature, and hence offers good opportunities for new entrants as well as established diisononyl phthalate suppliers.
DINP manufacturers are expected to resort to mergers and acquisitions to enlarge their market presence and gain a competitive edge on a global level.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global diisononyl phthalate market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights into the market on the basis of polymer type (PVC, acrylic, polyurethanes, and other polymer types) and application (floorings & wall coverings, wires & cables, films & sheets, coated fabrics, consumer goods, other applications), across five major regions (North America, Latin America, Europe, APAC, and the MEA).