Dioctyl Fumarate Market

Dioctyl Fumarate Market Outlook

As per rigorous research by Chem View Consulting, our analysts believe that the global dioctyl fumarate market will grow at a 4.8% CAGR during the period 2023–2033 to reach a valuation of US $698.2 million by 2033.

Key Findings on the Dioctyl Fumarate Market

1. Which is the largest market for dioctyl fumarate?

The biggest market for dioctyl fumarate is East Asia. As per our analysis, East Asia holds nearly 35.4% share of the dioctyl fumarate market.

2. What is the largest application segment within the dioctyl fumarate market?

As per Chem View Consulting, the largest segment by application is paints & coatings. As per our analysis, this segment accounts for nearly 46.1% of total revenues.

3. At what rate is the dioctyl fumarate market expected to grow?

The dioctyl fumarate market is expected to grow at a CAGR of 4.8% during the period 2023–2033.

4. What are the major trends influencing the dioctyl fumarate market?

• Shift Towards Non-Toxic Plasticizers: Dioctyl fumarate is chosen over phthalate-based plasticizers owing to its non-toxic and non-carcinogenic qualities. This trend is being driven by consumers who prioritise health and stringent regulatory requirements.
• Expanding End-Use Industries: Dioctyl fumarate is used in a wide range of industries, including automotive, construction, and packaging. The growth of these industries, especially in emerging nations, is fuelling demand for dioctyl fumarate.

5. Who are the leading players in the dioctyl fumarate market?

The key companies in the dioctyl fumarate market are Kawasaki Kasei Chemicals, ESIM Chemicals, Celanese Corporation, Korea PTG Co., Hangzhou Qianyang Technology Co. Ltd., Hefei TNJ Chemical Industry Co. Ltd., Payal Group, and Evonik Industries AG.

Key Drivers for Dioctyl Fumarate Demand

• Increasing consumer awareness about the environmental and health consequences of phthalate-based plasticizers may lead to a preference for dioctyl fumarate, which is considered a safer option. This may increase demand for products that contain this plasticizer.
• In addition, advances in dioctyl fumarate production technologies and formulations can lead to more cost-effective manufacturing and higher product quality, making it more appealing to diverse sectors and promoting market growth.
• Furthermore, growing environmental concerns and stricter laws regarding the usage of phthalate-based plasticizers have resulted in a shift towards more environmentally friendly alternatives such as dioctyl fumarate. This regulatory push may boost market growth as companies seek compliant plasticizer alternatives.

Key Challenges Inhibiting Demand for Dioctyl Fumarate

• The cost of raw materials required in the synthesis of dioctyl fumarate, such as fumaric acid and alcohols, might change significantly. These changes can have an impact on the pricing and profitability of dioctyl fumarate, making it less appealing to some end users.
• Moreover, because of limited awareness or access to modern materials, emerging markets may be slower to adopt dioctyl fumarate. Thus, economic restraints and infrastructure limitations could hinder market penetration in certain places.

Key Challenges & Opportunities for Dioctyl Fumarate Manufacturers

• Maintaining consistent product quality can be difficult, especially when dealing with differences in raw materials and manufacturing processes. High quality standards are essential for consumer satisfaction and market reputation.
• However, collaboration with raw material suppliers, chemical companies, or end users to develop innovative remedies or new uses for dioctyl fumarate might be advantageous from a strategic standpoint.

Country/Region-wise Insights

US Dioctyl Fumarate Market Forecast 

• The expanding pharmaceutical and cosmetics industries in the US market are projected to observe significant growth?in the estimated period.
• In addition, stringent restrictions aimed at decreasing harmful emissions and promoting cleaner manufacturing processes have prompted the use of dioctyl fumarate as a viable alternative to traditional plasticizers.

Europe Dioctyl Fumarate Market Outlook

• Strict restrictions and requirements for product quality and safety in the Europe market are anticipated to drive sales in the market over the assessment period.
• Moreover, the growing automotive and construction sectors in Europe are expected to drive up demand for dioctyl fumarate, which is widely used in the manufacture of high-performance materials and coatings.

Japan Dioctyl Fumarate Market Forecast

• A growing automotive and construction industries that rely heavily on plasticizers for a wide range of applications in the Japan market are anticipated to drive the market over the forecasted period.
• Additionally, the country’s increasing technological improvements and research efforts in polymer chemistry are anticipated to result in innovative uses for dioctyl fumarate, opening up opportunities and markets.

China & India Dioctyl Fumarate Market Forecast

• A surge in industrialization and manufacturing activities in the China & India markets is anticipated to fuel the market over the forecast period. China & India dioctyl fumarate markets are likely to account for a leading share of the global dioctyl fumarate market.?
• In addition, rising disposable income levels and urbanisation are driving up demand for consumer goods and automotive products, increasing the demand for dioctyl fumarate as a major component in their manufacture.

Dioctyl Fumarate Market Outlook & Forecast by Segmentation

By Type

Based on type, the purity greater than or equal to 98% segment is expected to remain at the forefront of dioctyl fumarate market share over the assessment period. The growth is mainly because high-purity dioctyl fumarate has higher performance characteristics in a variety of applications. This can include better plasticizing qualities in the plastics industry or improved solubility and stability in the pharmaceutical sector, which drives the industry’s continuous need.

Furthermore, higher purity levels are frequently associated with improved quality and performance. Customers in industries like plastics, chemicals, and pharmaceuticals prioritise the usage of high-purity dioctyl fumarate to ensure their finished products fulfil demanding quality standards.

By Application

Based on application, the paints & coatings segment is set to account for 46.1% of the dioctyl fumarate market share over the assessment period. The growth is because the paints and coatings sector is a significant consumer of plasticizers like dioctyl fumarate. These compounds improve the flexibility, durability, and other qualities of coatings, making them essential in this industry.

In addition, demand for paints and coatings is closely related to the construction and infrastructure sectors. As these industries expand globally, the need for high-quality paints and coatings is likely to rise, contributing to the long-term supply of dioctyl fumarate.

Which Company Owns the Largest Share in the Dioctyl Fumarate Market?

The key companies in the dioctyl fumarate market are Kawasaki Kasei Chemicals, ESIM Chemicals, Celanese Corporation, Korea PTG Co., Hangzhou Qianyang Technology Co. Ltd., Hefei TNJ Chemical Industry Co. Ltd., Payal Group, and Evonik Industries AG.

Recent Development 

• In November 2022, Evonik Industries AG, a publicly traded German specialty chemicals firm, announced that the corporation would increase its plasticizer product portfolio.
• In August 2022, Payal Group, one of the leading plasticizer manufacturers, announced the launch of South India’s first primary plasticizers.

As per our analysis, the companies that hold the largest share in the market are

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Kawasaki Kasei Chemicals

Founded in 1948 and located in Kawasaki, Kanagawa, Japan, it is a corporation that specialises in the production and distribution of various chemical products for a wide range of industrial applications.

ESIM Chemicals

Founded in 2015 and located in Chemiepark Linz, it is a cutting-edge corporation that specialises in custom manufacturing.

Celanese Corporation

Founded in 1918 and with headquarters in Irving, Texas, United States, it is a corporation that specialises in technology and specialty materials.

Korea PTG Co.

Founded in 1989 and located in South Korea, it is a specialized chemical firm.

Hefei TNJ Chemical Industry and Ltd.

Established in 2001 and with headquarters in Hefei, Anhui, it is a medium-sized chemical firm that specialises in the manufacture and distribution of chemical compounds.

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