Di Isobutyl Adipate Market Report Overview
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The global di isobutyl adipate market size is expected to be USD 13 million in 2022 and is projected to touch USD 17 million by 2028, exhibiting a CAGR of 4.6% during the forecast period.
Hexane dioic acid, commonly known as Di isobutyl adipate, is a member of the group of chemical substances known as fatty acid esters. By reducing brittleness, Di isobutyl adipate softens synthetic polymers. Di isobutyl adipate is frequently found in cosmetics and personal care items because it acts as a lubricant on the skin's surface. Additionally, hydro-alcoholic formulations like shaving creams and grooming items employ Di isobutyl adipate. Di isobutyl adipate is also used as a low temperature plasticizer for PVCs and as a specialized solvent in home cleansers.
Secondary plasticizers have a limited compatibility with polymers and are employed in conjunction with other plasticizers, primary plasticizers produce elongation and enhanced softness in the materials. Along with this, the market is anticipated to be supported by rising demand for bio-based materials throughout the course of the projected period and growing acceptance of non-phthalate and high molecular weight phthalate plasticizers. There are many various types of plasticizers on the market, but phthalates, terephthalates, epoxies, and aliphatic are the most often used.
COVID-19 Impact: Disrupted Supply Chains to Restrict Market Development
The global COVID-19 pandemic has been unprecedented and staggering, with di isobutyl adipate experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Due to the COVID-19 pandemic, transportation restrictions were put in place, which led to decreased industrial production and disrupted supply chains, which significantly slowed down market growth. Due to the work stoppage, the firms did not make any money, and in addition to this, they also lost their suppliers, who were delivering the necessary supplies to various businesses for use in the construction industry. All of these suppliers are now suffering significant losses. Furthermore, the industrial firms during COVID-19 operated with a limited staff due to social distance rules, which adversely hampered the production and building processes. These factors impacted the di isobutyl adipate market growth during the COVID-19 pandemic.
LATEST TRENDS
"Expansion in the Plastic Sector to Drive the Market Expansion"
Increased demand for flexible PVC in a variety of applications, increased use of non-phthalate and high molecular weight phthalate plasticizers, and expansion in the packaging sector are the key factors driving the worldwide plasticizers market. Due to China's large production and consumption, as well as the fast-growing markets in India and other nations, Asia-Pacific now has the lion's share of the market in terms of volume and growth. The market's expansion is constrained by strict regulatory restrictions on specific phthalates and the toxicity of PVC. Numerous prospects for the growth of the plasticizer market are anticipated to come from ongoing innovation in plasticizers that has led to the production of its bio-derived kind and R&D initiatives for developing new applications by various industry participants. These factors will encourage di isobutyl adipate market growth in the forthcoming years.
Increased demand for flexible PVC in a variety of applications, increased use of non-phthalate and high molecular weight phthalate plasticizers, and expansion in the packaging sector are the key factors driving the worldwide plasticizers market.
Di Isobutyl Adipate Market Segmentation
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- By Type Analysis
By type, market is segmented into DBA and DIBA. The DBA will dominate the market in the coming years.
- By Application Analysis
Based on applications, the market is classified into plasticizer, cosmetic, coating and others. The plasticizer segment will lead the global share through 2028.
DRIVING FACTORS
"Rapid Growth in Food and Beverage Business to Drive the Market"
The end-use sector for coatings and food packaging is what drives the Di isobutyl adipate market. The food and beverage business are growing quickly and will keep up this trend in the future. Western nations have a high demand for packaged and processed foods, which raises the need for Di isobutyl adipate. Due to the rapid expansion of the food & beverage industry, led by rapid rise in processed foods and packaged foods, will positively influence the di isobutyl adipate market share.
"Food Packaging Industry to Support Market Growth"
Di isobutyl adipate is highly sought after in the plastics and cosmetics industries as well as in the food packaging and coatings industries. Because of rising per capita incomes in Asian nations like Japan, South Korea, India, and China, the cosmetics sector is booming. Food packaging sector is booming due to the increasing expansion of packaged foods among consumers. Consumers are increasingly purchasing packaged items owing to ease of use and convenience in addition to a longer lifestyle. Rise in packaging demand across food sector will work in favour of di isobutyl adipate manufacturers in the coming years.
RESTRAINING FACTORS
"Availability of Alternatives Could Limit Market Demand "
Although alternatives are being developed and the negative effects of plastic on the environment are developing, the market for Di isobutyl adipate as a plasticizer in the plastics industry remains static as a result of a decline in plastic consumption. Additionally, one of the major problems of the new millennium is the depletion of petroleum supplies, therefore finding a substitute is essential. Such factors could negatively impact the di isobutyl adipate market in the coming years.
Di Isobutyl Adipate Market Regional Insights
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"North America to Retain Dominance owing to Demand for Luxury Consumer Goods "
Due to the population's growing purchasing power and the rising demand for luxury and premium goods, the market in North America has experienced favorable development. One of the key factors driving the market's expansion during the projection period is the region's expanding number of beauty product retailers. For instance, one of the biggest cosmetics retailers in the United States, Sephora, revealed its development plans in February 2020, involving the establishment of around 100 additional locations throughout the continent of North America.
Leading companies in the beauty and personal care sectors, such as L'Oréal, Beiersdorf AG, Unilever, and others, dominate the European market. Additionally, factors including a rise in beauty salons and the population of millennials and generation Z in the area are anticipated to fuel demand for a variety of cosmetic items. For instance, the market for skin and face care products saw average increase each year for the German decorative cosmetics industry, according to the Annual Report of the German Cosmetic, Toiletry, Perfumery and Detergent Association.
Due to China's large production and consumption, as well as the fast-growing markets in India and other nations, Asia-Pacific now has the lion's share of the market in terms of volume and growth. The market's expansion is constrained by strict regulatory restrictions on specific phthalates and the toxicity of PVC. Numerous prospects for the growth of the plasticizer market are anticipated to come from ongoing innovation in plasticizers that has led to the production of its bio-derived kind and R&D initiatives for developing new applications by various industry participants.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- Lanxess (Germany)
- Basf (Germany)
- KAO (Japan)
- Domus Chem (Italy)
- Qianyang Tech (China)
- Hallstar (U.S.)
- DEZA (Czechia)
- Varteco (Argentina)
- Demeter Chem (U.S.)
- Jiuhong Chem (Canada)
- Tianyuan Tech (China)
REPORT COVERAGE
The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 13 Million in 2022 |
Market Size Value By |
US$ 17 Million by 2028 |
Growth Rate |
CAGR of 4.6% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Types & Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the di isobutyl adipate market expected to touch by 2028?
Over the research period, the di isobutyl adipate market is anticipated to reach USD 17 million in 2028.
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What CAGR is the di isobutyl adipate market expected to exhibit by 2028?
The di isobutyl adipate market is expected to exhibit a CAGR of 4.6% by 2028.
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Which are the driving factors of the di isobutyl adipate market?
Food and beverage industry and the packaging industry are some of the drivers of the di isobutyl adipate market.
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Which are the top companies operating in the di isobutyl adipate market
Lanxess, Basf, KAO, and Domus Chem are some of the top companies operating the di isobutyl adipate market.