The global isononanol market is estimated to reach a value of USD 1.5 billion in 2027 and is expected to grow at a CAGR of 3.50% during the forecast period.
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 3.50% 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.
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), BASF SE (Germany), Sinopec (China), KH Neochem Co., Ltd (Japan), CPC Corporation (Taiwan), Nan Ya Plastics Corporation (China), OXEA GmbH (Germany), Petronas Chemicals Group Bhd (China), and others.
Global Isononanol Market Share, By Application, 2018 (%)
Asia-Pacific is estimated to be the largest market for isononanol during the forecast owing to booming chemical and plastic industry in the region. China, India, and ASEAN countries are expected to be the primary driving force for the growth of the market in the region, owing to increasing government support to boost domestic manufacturing capabilities. Europe is expected to be the second-largest market for isononanol, trailing behind the Asia-Pacific market. Key contributors to the growth of the European market is increasing demand for isononanol from chemical, agrochemicals, personal care, and plastic industry.
North America is expected to be another prominent region for the isononanol market; the region is expected to witness moderate growth backed by the growing construction and automotive industry in the region. Albeit having a relatively smaller share in the global market, the Latin America isononanol market is anticipated to expand at significant growth rate due to the expansion of end-use industries, such as chemicals and plastics industry. The Middle East & Africa isononanol market expected to witness a moderate growth owing to increasing investment in chemicals and construction industry in the region.
The global isononanol market has been segmented based on application, end-use industry, and region.
Based on application, the global isononanol market has been categorized as a plasticizer, chemical intermediate, solvent, additive, and others.
By end-use industry, the global isononanol market has been divided into chemicals, polymer, personal care, polymer, building & construction, automotive, and others.
The global isononanol market, by region, has been segregated into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type and End-Use Industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||The Dow Chemical Company (US), Johnson Matthey (UK), Evonik Industries AG (Germany), Exxon Mobil Corporation (US), BASF SE (Germany), Sinopec (China), KH Neochem Co., Ltd (Japan), CPC Corporation (Taiwan), Nan Ya Plastics Corporation (China), OXEA GmbH (Germany) and Petronas Chemicals Group Bhd (China)|
|Key Market Opportunities||Increasing standard of living, increasing disposable income, and demographic change around the world are incentivizing people to spend on secondary needs|
|Key Market Drivers||
The isononanol market is projected to grow at a 3.50% CAGR between 2022-2030.
The isononanol market is predicted to touch USD 1.5 billion by 2025.
The APAC region is expected to command the largest share in the isononanol market.
It finds extensive applications in additives, solvents, chemical intermediate, and others.
Hazardous effects and environmental concerns may deter market growth.