Surge in demand for non-phthalate plasticizers, rise in constructional activities in developing countries, and development of the cosmetic & personal care product industry in emerging economies propel the growth of the global dioctyl maleate market
PORTLAND, Oregon, Oct. 1, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Dioctyl Maleate Market by End Use (Adhesives, Emulsion Paint, Surfactants & Wetting Agent, Plasticizer, Textile Coating, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." The report provides a detailed analysis of the market, including key winning strategies, industry drivers &restraints, market size & forecast, top investment pockets, competitive landscape, and wavering market trends. As per the report, the global dioctyl maleate industry was estimated at $242.6 million in 2018 and is anticipated to register $326.1 million by 2026, registering a CAGR of 3.7% during the forecast period.
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Drivers, restraints, and opportunities-
Rise in demand for non-phthalate plasticizers, increase in constructional activities in developing countries, and development of the cosmetic & personal care product industry in emerging economies drive the growth of the global dioctyl maleate market. On the other hand, availability of cheaper substitutes restrains the growth to some extent. Nevertheless, implementation of stringent government regulations on phthalates is expected to create a number of lucrative opportunities for the key players in the industry.
The surfactants & wetting agent segment to lead the trail by 2026-
Based on end-use, the surfactants & wetting agent segment accounted for more than two-fifths of the global dioctyl maleate market share in 2018 and is expected retain its dominance throughout the estimated period. This is attributed to increase in demand for surfactants to be used in manufacturing of household detergents and personal care products. The plasticizer segment, on the other hand, is projected to grow at the fastest CAGR of 4.2% by 2026. Increase in demand for flexible PVC products in various applications such as construction, automotive, toys, plastic medical devices, and food packaging films has propelled the growth of the segment.
Asia-Pacific garnered the lion's share, followed by North America-
Based on geography, the Asia-Pacific region, followed by North America, contributed to more than half of the global dioctyl maleate market revenue in 2018 and is predicted to rule the roost during 2019–2026. Many large automobile players like BMW, Mercedes-Benz, Honda, Hyundai, Kia, and others have shifted their manufacturing facilities to Asia-Pacific, due to abundant presence of raw materials and low labor cost. This factor is expected to amplify the demand for dioctyl maleate across the region. The same region is also anticipated to cite the fastest CAGR of 4.1% during the study period.
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Frontrunners in the industry-
- Celanese Corporation
- Biesterfield AG
- Merck KGaA
- Hangzhou Qianyang Technology Co., Ltd.
- Polynt SpA
- ESIM Chemicals
- Henan GP Chemicals Co., Ltd.
- Tokyo Chemical Industry Co., Ltd.
- Shandong Yuanli Science and Technology Co., Ltd.
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SOURCE Allied Market Research