Isononyl Alcohol Market Size, Share, Growth, and Industry Growth, By Type (C4 Chemicals Process and Exxonmobil Process), By Application (DINP, DINCH, and Other), Regional Forecast To 2031

Updated On: 08 April 2024

Isononyl Alcohol Market REPORT OVERVIEW

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The global isononyl alcohol market size was USD 2258.8 million in 2021 and is projected to touch USD 5509.23 million by 2031, exhibiting a CAGR of 9.3% during the forecast period.

Isononyl alcohol is a primary alcohol with nine carbons and other compounds that makes up the isononanol mixture. It is used in small amounts for fragrance in hair spray, shampoo, face creams, and soaps. It is used in the manufacturing of lubricants, lubricating oils, grease, and others. It has an alpha color with a boiling point of 194 degrees Celsius at 760 mmHg with a flash point of 80 degrees Celsius. It is an organic compound. It is a water-soluble white solid also soluble in diethyl ether and ethanol. It is widely used in making plasticizers and detergents. It naturally occurs as a component of natural gas and crude oil.

The market is forecasted to gain significant growth owing to the substantial demand for various products.  The use of this chemical in plasticizers is likely to gain maximum traction in the market. These are colorless and odorless esters known for expanding the material’s elasticity. It can prepare acrylate of the compound by reacting with acrylic acid. It has a minimum glass transition temperature that makes it appropriate for various applications such as adhesives & sealants, paints & coatings, and others. The rising uptake of DINP and DINCH plasticizers is likely to foster isononyl alcohol market growth.

COVID-19 Impact: Interruption in Supply-Chain Affected Market Growth

The unexpected pandemic incident triggered the implementation of tight lockdown regulations across several nations, which aggravated the import and product exercises of the product. However, the increased demand for great products on the isononyl alcohol market increased interest in the development of the chemicals business during the pandemic. In any case, during the COVID-19 epidemic, the market was primarily affected by a number of obstacles, such as the inaccessibility of a skilled labor force and the delay or suspension of activity because of the complete lockdown. Additionally, it is anticipated that the flood of chemical arrangements being implemented internationally post-COVID-19 will increase market figures. 

LATEST TRENDS

"Replacing Low Molecular Weight Plasticizers with High Molecular Plasticizers to Aid Growth"

The high molecular plasticizers are replacing low molecular weight plasticizers due to higher flexibility. High molecular weight plasticizers soften the polyvinyl chloride (PVC) and make it more flexible. It expands the possibilities for various new applications. Additionally, it offers higher durability that confers PVC applications that ensures enhanced performance for a longer period of time. It is widely used for roofing membranes, wall covering, electrical cable, automotive applications, and wire insulation. Plasticizers with high molecular weight are rapidly being adopted by various industries due to their advanced properties. These factors are projected to drive significant growth in the market. 

Isononyl Alcohol Market Segmentation

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• By Type Analysis

By type, the market is segmented into the C4 chemicals process and the ExxonMobil process. 

The ExxonMobil Process is forecasted to be the rapidly expanding segment owing to the process being used for making isononyl alcohol of high quality, which is used in resins, lubricants, coatings, adhesives, and others. 

• By Application Analysis

Based on application, the market is classified into DINP, DINCH, and others. 

The DINP is expected to dominate the application segment due to the developments in plastic and polymer manufacturing in the global market. 

DRIVING FACTORS

"Use of the Product in the Cosmetics Industry to Expand Product Demand "

The rising inclination of the population toward the adoption of cosmetics is forecasted to increase the demand for isononyl alcohol as it is used in various cosmetics as a plasticizer and emollient. It is used in the manufacturing of moisturizers, shampoos, nail polishes, lotions, and skin creams. The population is using various cosmetic products backed by the rising awareness of cosmetics. Additionally, the isononyl alcohol is safe to use on the skin, which is expected to increase its applications in the cosmetic industry. These factors are anticipated to aid a significant part of the isononyl alcohol market growth. 

"Rising Consumption of the Product to Foster Product Demand"

The demand for isononyl alcohol is increasing due to rising awareness of the benefits associated with the products. The major application of the products is plasticizers. It is used in DINCH and DINP plasticizers. It is used to convert the rigid plastic PVC into a flexible, elastics, and soft material. It is PVC compatible and exhibits good performance, low volatility, and high efficiency. These factors are estimated to drive product demand in the market. 

RESTRAINING FACTORS

"Various Health Hazards Associated With the Product to Affect Market Growth"

The excess contact and not taking the required precautions while using this chemical may affect the consumer in various ways such as by causing skin irritation, eye irritation, and serious eye damage. It is also harmful to the aquatic life coiled with a long-lasting effect. These factors are expected to affect product adoption and result in hampering the isononyl alcohol market growth.

Isononyl Alcohol Market REGIONAL INSIGHTS

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"Asia Pacific to Lead the Market Due To the Rising Product Demand from End-Use Industries "

Asia Pacific is forecasted to dominate the region due to the rising product demand from the end-use industries such as paints & coatings, adhesives & sealants, polyurethane, and plastics. Additionally, the expanding automotive production in developing countries such as India, China, and Japan are projected to help the region in holding a dominant position in isononyl alcohol market share.

Europe is forecasted to show significant growth in the global market due to the strict regulations regarding the emission of VOC from solvents commonly used across multiple industries of the region. Higher demand for the chemical is increasing due to various applications of the chemicals is also projected to surge growth in the market.   

KEY INDUSTRY PLAYERS

"Key Industry Players to Emphasize On Long-Term Growth Strategies to Gain Market Share"

Small, medium and large-sized businesses are just a few of the competitors in this fragmented industry. To diversify their product offering and achieve sustainable market growth, the corporations are forming strategic collaborations. Key industry players should concentrate on securing alliances, mergers, and acquisitions to grow in the international market. To achieve steady market expansion, the players are introducing new items. Additionally, businesses place a strong emphasis on creating products that may be modified in order to attract more clients. Major competitors are emphasizing developing organic and inorganic strategies to gain long-term growth in the global market. 

List of Market Players Profiled

• ExxonMobil (U.S.)
• Evonik Oxeno (Germany)
• BASF (Germany)
• Nan Ya PLASTICS (China)
• KH NEOCHEM (Japan)

REPORT COVERAGE

The report offers accurate information about the market insights. It represents an analysis of a competitive edge that seems significant for the formation of business plans. The report defines various paths for the growth and development of the industry. Market segmentation is depicted in the report and highlights the important factors of the sector with various growth opportunities, competitive landscape, and growth strategies of the major key players. The market report focuses on various growth prospects and the factors that may limit the growth of the market. Additionally, this market report represents the key players of the market and their headquarters. The report offers a deep insight into the market.