Diisononyl Phthalate Market Size

Diisononyl Phthalate Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The Diisononyl phthalate (DINP) market is estimated to reach USD 9.5 billion by 2024 and is projected to reach the same figure by 2030. The stable growth, backed by a CAGR of 7% over the forecast period, is a clear indication of a dynamic market driven by increasing demand for the product across various applications. The steady demand, especially from the automotive, construction, and consumer goods industries, where DINP is used as a plasticizer, is a preferred choice over other phthalates owing to its superior safety profile and plasticizing properties. Also driving the market is the growing awareness of sustainable development and the move towards using less toxic alternatives in the manufacturing processes. Technological advancements in production and the development of new applications are also contributing to the market growth. The major players in the market, such as BASF, Eastman, and ExxonMobil, are engaging in strategic initiatives, such as research and development and strategic alliances, to enhance their product offerings and capture a larger market share. The efforts are expected to further cement the product’s position as a preferred choice for various industrial applications, thereby ensuring its survival in the evolving market scenario.

Regional Market Size

Regional Deep Dive

The DINP market is characterised by the diverse dynamics of the various regions, based on the regulatory frameworks, industrial applications and consumer preferences. North America, for example, is influenced by the strict regulations on phthalates, which have led to a shift towards safer alternatives. Europe, on the other hand, is dominated by the demand from the automotive and construction industries. Asia-Pacific, on the other hand, is experiencing a high growth rate, mainly on account of the rapid industrialization and urbanization. The Middle East and Africa (MEA) is a region of unique opportunities and challenges, primarily due to the fluctuating crude oil prices. Latin America is gradually adopting DINP in various applications, but the regulatory barriers remain a concern. In the end, the market is expected to grow, driven by innovation and regulatory changes across the various regions.

North America

• The U.S. EPA has issued stricter regulations for phthalates, which has prompted manufacturers to seek safer substitutes, which may in the long run affect the demand for DINP.
• ExxonMobil and BASF are investing in the development of more sustainable plasticizers, which will change the competitive landscape in North America.
• North America's automobile industry is increasingly adopting this plastic for its elasticity and resistance to wear, particularly in interior applications, which is expected to stimulate demand.

Europe

• The European Union’s REACH regulation has also influenced the market for phthalates, and manufacturers have had to reformulate their products. This has also influenced the market for di-isononyl phthalates.
• Evonik and Eastman have set themselves the task of developing bio-based alternatives to DINP. This is in line with the EU's policy of sustainable development and the consumers' desire for more eco-friendly products.
• The construction industry in Europe is seeing a steady increase in the use of DINP in flooring and wall coverings, a trend that is being driven by the growing emphasis on refurbishment and on sustainable building.

Asia-Pacific

• Industrialization is advancing rapidly in the countries of Asia, particularly in China and India, where demand for DINP is increasing for various uses, especially in the manufacture of flexible PVC products.
• As a result of the high growth rate of the demand for NADPH in the Asia-Pacific region, the local production of NADPH is being expanded by companies such as Mitsubishi and Mitsubishi.
• Regulations are changing. Some countries, like Japan, are introducing stricter standards for phthalates. This could lead to a change in the market towards safer alternatives.

MEA

• The demand for crude oil and natnol in the Middle East and North Africa (MENA) region fluctuates a lot. The price of oil, which is a key factor in the cost of raw materials and the availability of raw materials, also fluctuates.
• It is becoming increasingly important for local manufacturers to comply with international standards. In this regard, companies like SABIC are studying the possibility of using a sustainable production method for the niobium-tin (Ni-Tin) in their production of niobi
• The building boom in the Gulf Cooperation Council countries is expected to boost demand for DINP in the construction industry, although regulatory issues are still a concern.

Latin America

• The DINP market is being held back by regulatory restrictions in countries such as Brazil and Argentina, where manufacturers are facing difficulties in complying with local environmental regulations.
• Latin American demand for DINP is growing slowly, especially in the construction and automotive industries, and Braskem is investing in new products.
• A growing number of companies are looking for bio-based alternatives to DINP to align themselves with the global trend and the preferences of consumers.

Did You Know?

“DIDIONONYL PHOSPHATES (DINP) are the most widely used plasticizers in the world. Their use represents about a third of the total plasticizer market. This is mainly because of their versatility in many applications.” — PlasticsEurope, 2023

Segmental Market Size

The most important part of the plasticizer market is the DI-IONONYL PHTHALATE (DINP) segment, which is used in PVC products to increase their flexibility and resilience. This segment is currently experiencing a stable growth in demand for construction, automotive and consumer goods. There are several factors driving this growth: the increasing demand for high-quality materials that meet strict regulatory standards and the growing demand for durable products.

The current market situation for DINP is mature, with North America and Europe being the major producers and innovators. The major applications are in flooring, wall coverings, and car interiors, where the properties of the polymer are crucial for performance. The development is being influenced by a number of factors, such as the trend towards sustainability and the pressure on harmful substances. The introduction of new production methods, such as bio-based plasticizers, is also a driving force.

Future Outlook

The market for diisononyl phthalate (DINP) is forecast to grow steadily from 2024 to 2030, with a CAGR of 7.0%. The value of the market is expected to remain at a level of about $9.5 billion, a result of the high demand for DINP from various industries, especially in the production of flexible PVC products. As a result of the increasing focus on the environment, the demand for safer and more sustainable plasticizers is expected to rise. The use of DINP in the automotive, construction and consumer goods industries is expected to grow significantly in the forecast period, reaching an approximate share of 15% in these industries by 2030.

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