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Isononanol Market Research Report - Global Forecast Till 2025 Report / Search Code: MRFR/CnM/2951-HCR
Publish Date: December, 2019
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Global Isononanol Market: Information by Product Type (Plasticizer, Chemical Intermediate, Solvent, Additive and others), End-Use Industry (Chemicals, Polymer, Personal Care, Polymer, Building & Construction, Automotive and others) and Region (North America, Latin America, Europe, Asia-Pacific and Middle East & Africa) - Forecast till 2025 Market Overview The global isononanol market is estimated to reach a value of USD 1.5 billion in 2025 and is expected to grow at a CAGR of 3.5% during the forecast period. Isononanol (INA) is the common name of isononyl alcohol and is an isomer of the C9 family. Isononanol is transparent, clear, has a specific odor, and is flammable liquid without visible impurities. These properties of isononanol are used in paints, coatings, and plastic industries. It is used mainly for the production of plasticizers such as, diisononyl phthalate (DINP), diisononyl adipate (DINA), and triisononyl trimellitate (TINTM), which are mainly used for the production of plasticized polyvinylchloride (PVC) products for automotive parts, electrical wires, cables, conducting materials and numerous other products. It is also used to produce nonyl acetate, which is used in perfumery and flavors. It is slightly soluble in the water, however soluble in organic solvents. One of the critical applications of isononanol is as a feedstock for the manufacturing of plasticizers. Plasticizers are one of the essential components of chemical industries, especially in the plastic industry. The global plastic industry is stimulated to witness robust growth during the forecast period driven increasing population, urbanization, and industrialization across the globe. This, in turn, is expected to fuel the demand for isononanol during the forecast. Furthermore, the global plasticizers market is expected to flourish on account of PVC in the automotive industry. Plasticized PVC is used to promote good paint-ability and enhancing the appearance of the vehicle. This, in turn, is anticipated to boost the growth of the isononanol market, as its maximum consumption in the manufacturing of plasticizers. Furthermore, increasing standard of living, increasing disposable income, and demographic change around the world are incentivizing people to spend on secondary needs such as cosmetics, personal care, and other auxiliary products, which in turn is expected to propel the growth of the global isononanol market. Also, growing construction, automotive and aerospace industry is driving the demand of isononanol for various applications such as in paints & coatings, adhesives, sealants, solvents, and rubber. However, the environmental concerns and high rate of hazardous effects of isononanol are driving authorities to establish laws and regulations to control its use. Moreover, isononanol is needed to be handled with care, especially its while transportation due to the formation of flammable vapors on stirring and as its vapors may cause drowsiness and dizziness, even form explosive mixtures with air. This factor is expected to hamper the growth of the global isononanol market slightly. Nevertheless, with advanced safety measures and methods in place, this restraint can be mitigated in the coming years. Another factor which may restrain the growth of the isononanol market is the production process in capital intensive, and generate significant levels of byproducts.
Key Players: Some of the key players operating in the global isononanol market are The Dow Chemical Company (US), Johnson Matthey (UK), Evonik Industries AG (Germany), Exxon Mobil Corporation (US),