Global Isononanol Market is set to grow at higher CAGR on account of an Increasing Demand for Manufacturing Plasticizers

Pune, India, September 21, 2017 /MRFR Press Release/- Market Research Future published a Half Cooked Research Report on Global Isononanol Market.

Market Overview:

Isononanol is a trivial name of mixture of isomeric alcohols. This group of chemicals consists of primary alcohols. Isononanol is a high molecular weight or fatty alcohol with branched chain of nine carbon atoms. In the market, the compound is available in the form of clear, colorless or slightly yellowish liquid with a mild odor. The primary use of Isononanol is as a raw material to manufacture plasticizers, and various etsers of nonanol such as nonyl acetate. Applications of Isononanol can be found in diverse industries such as chemicals, agrochemical, personal care, and building & construction, among others. The Global Plasticizer Market is growing and it is estimated to reach ~USD 19 billion by the end of 2023. This is projected to fuel the demand of Isononanol during the forecast period. On account growing demand of PVC, the global plastic industry is growing at higher CAGR, which may further help boost the demand of Isononanol.

Competitive Analysis:

Key players in the Global Isononanol Market are BASF SE (Germany), Evonik Industries AG (Germany), Sinopec (China), NAN YA PLASTICS CORPORATION (Taiwan), AkzoNobel (Netherlands), KH Neochem Co., Ltd. (Japan), Triveni Chemicals (India), and Alpha Chemika (India), among the others.

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Market Segmentation:

The Global Isononanol Market is segmented on the basis of application, end use industry, and region. On the basis of application, the market is divided into plasticizer, catalyst, solvent, mining additive, and others. Among these applications, Isononaol is majorly used for manufacturing plasticizers. The Isononanol Market is witnessing significant growth owing to its demand from chemicals industry for manufacturing Isononanol. Plasticizers are anticipated to remain the foremost application of Isononanol in coming years due to increasing adoption of non-phthalate and high molecular weight plasticizers in various applications such as packaging, coatings and plastics industry. Isononanol is also used as catalysts and intermediates in vast number of commercial chemical reactions to hasten the product formation. Growing chemical industry, which is attributed to an increasing demand of high end products around the world, may boost the demand of isononanol. One of the important applications of isononanol is as a solvent in number of extraction processes due to its miscibility with almost all the organic solvents and insolubility in water. Apart from these uses, isononanol has successfully penetrated into mining & excavation industry as a mining additive for the extraction of a number of minerals including, uranium, nickel and cobalt, among others.  

Based on end use industry, the Global Isononanol Market is segmented into Chemicals, plastics, agrochemicals, household & personal care, apparel & footwear, building & construction, paints & coatings, and others. Among these end use industries, chemical industry is growing at highest CAGR. This attributed to a growing use of Isononanol in the synthesis of high end commercial products such as diisononyl phthalate (DINP), diethylhexyl phthalate (DEHP), and TINTM, which are majorly used as a plasticizers. Global plastic industry is growing at higher CAGR of ~8% owing to the surge in demand of Polyvinylchloride (PVC) and other plastic materials in vast number applications such as construction, automotive, and packaging. This is expected to propel growth of demand of Isononanol during the forecast period. Increasing standard of living of people is incentivizing them to spend their disposable income on personal care, revamping house interior, and painting, which is anticipated to help boost the growth of the Global Isononanol Market in coming years.

Regional Analysis

Geographically, the Global Isononanol Market is divided into five key regions including, Asia Pacific, Europe, North America Latin America, and Middle East & Africa. Among these regions, Asia Pacific is the largest region in the market owing to the growing chemicals and plastic industry in the region. India and China are the leading markets in Asia Pacific, on account of the presence of major end use industries. Europe is also a substantial region in the Global Isononanol Market. Germany, U.K., the Netherlands, and Belgium are the major contributors to the regional market owing to an increasing demand of isononanol by end use industries such as chemicals, agrochemicals and plastic industry and presence of number of key players. North America is following Europe in terms of market size in the global isononanol market. U.S. is the major market in this region, which is attributed to the growing agrochemical and household & personal care industry along with the chemicals indstry and construction activities. Latin America is holding comparatively smaller share in the global isononanol market. In coming years, the region is anticipated to grow at considerable CAGR on account of rising end use industries such as chemicals and plastics in this region. The Middle East and Africa may soon join hand with the leading regions in the global isononanol market owing to the vast investment potential and growth opportunities in end use industries such as chemicals and construction in the region.

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