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(EstateNewsWire.com, October 12, 2017 ) 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.
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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.
There are five key regions in which the Global Isononanol Market is spanned across, Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Asia Pacific, Europe, and North America are major regions among these five regions. Asia Pacific is the largest and fastest growing region in the Global Isononanol Market. The region accounts for nearly 43% share of the Global Isononanol Market. India and China are the major contributors to regional market on Account of the presence of major end use industries such as chemicals, paints & coatings, and agrochemicals. Asian chemical market is poised to lead the global chemical market owing to the huge production capacity in countries like India, China, Taiwan and Japan. This is attributed to an increasing R&D and manufacturing firms that are migrating to Asia. This is anticipated to fuel the region’s dynamic growth in the Isononanol Market. In its recent annual economic survey, Indian government has emphasized on revival of its apparel and footwear industry. This industry is being focused on, owing to its labor intensive nature, which is one of the major concerns in Asia Pacific region. With an increasing focus on this end use industry in Asia Pacific is projected to boost the demand of Isononanol in the region.
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Europe is a substantial region, in terms of market size in the Global Isononanols Market. Europe is holding significant number share in the Global Isononanol Market. Countries namely, Germany, U.K., the Netherlands, and Belgium are the major markets in the regional market due to the growing demand of Isononanol by end use industries such as chemicals, agrochemicals and plastic industry. North America is following Europe in terms of market size in the Global Isononanol Market. U.S. is the largest market in this region, which is attributed to the growing agrochemical and household & personal care industry along with the chemicals industry. U.S chemical exports stands nearly 15% of the global chemical shipment, which is anticipated to propel growth of the regional Isononanol Market. Latin America is holding relatively lesser shares in the Global Isononanol Market. In coming years, Latin America is anticipated to grow at considerable CAGR on account of growing end use industries such as chemicals and plastics in this region. The Middle East and Africa would join hand with the leading regions in the Global Isononanol Market. This can be attributed to the vast investment potential and growth opportunities in end use industries such as chemicals and construction.
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