Jan 17, 2021 (Heraldkeepers) -- Market Overview:
Isononanol (INA) can be defined as an isomer of the c9 family and is also acknowledged as isononyl alcohol or oxo-alcohol. It is generally produced by using hydroformylation distillation, and hydrogenation. Soaring demand for plasticizers in the plastic and chemical industries is predicted to fuel the market growth across the globe.
Isononanol Market Growth , as per a report by Market Research Future (MRFR) is touted to register a CAGR of 3.5%, surpassing a valuation of USD 1.5 billion during the forecast period (2017-2025).
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Market Scenario and Growth Factors:
The isononanol will witness substantial growth during the foreseeable future, mainly due to the extensive demand for the manufacturing of plasticizers. The recent trend in the plasticizer market involves the replacement of low molecular weight plasticizers by high molecular weight phthalates such as DINP. The feedstock demand for DINP, isononanol will surge in the long run. The consumption and demand for isononanol are highly encouraged by the development of the chemical industry, plastic manufacturing industry, and polymers. The market is gaining momentum due to the surging construction activities, coupled with the growth in the electrical industry.
The recent boom in end user industries like PVC manufacturing is estimated as the prime force behind the growth of the market. The product also finds popularity across chemicals, agrochemicals, footwear, apparel, and personal care, which will influence its growth in the coming years.
On the contrary, the market is highly affected due to strict laws imposed on the use of isononanol. It requires extreme caution when transported or handled as it is a volatile product. This further increase complication level for the buyers as well as suppliers and makes shipping expensive owing to the inclusion of advanced equipment and safety systems. Such concerns are estimated to restrict the market growth in the coming years.
The top players operating in the isononanol market include:
The Dow Chemical Company
Exxon Mobil Corporation
Evonik Industries AG
KH Neochem Co., Ltd