According to a new report published by Trends Market Research, titled, “Dioctyl Maleate Market by End Use: Global Opportunity Analysis and Industry Forecast, 2019–2026,” the global dioctyl maleate market was valued at $242.6 million in 2018, and is projected to reach $326.1 million by 2026, growing at a CAGR of 3.7% from 2019 to 2026.
Dioctyl maleate (DOM) is a widely used chemical intermediate and building block for several chemical production processes. It majorly finds its application in the coatings industry, and is used as a non-phthalate plasticizer in PVC devices.
DOM is widely applicable in the cosmetic industry in manufacturing of moisturizers, cleanser, and makeup, and as a conditioning agent. Upsurge in disposable income of consumers, improvement in standard of living, and increase in awareness toward hygiene have boosted the demand for skin care cosmetics and personal care products globally. This factor is anticipated to increase the demand for dioctyl maleate in the cosmetic industry. In addition, DOM is used in the manufacturing pressure-sensitive adhesives, which are used in vehicle trims to protect them from corrosion and reduce the weight of the overall vehicle. Thus, increase in demand for lightweight vehicles with increased fuel efficiency is expected to drive the growth of the global market.
Based on end use, the market is fragmented into adhesives, emulsion paint, surfactants & wetting agent, plasticizer, textile coating, and others. DOM is polymerized with vinyl chloride (PVC), vinyl acetate, stearates, as well as acrylates. It is a co-monomer, and is used in the production of various adhesives and textile coatings, owing to its chemical properties such as low acidity and lesser moisture content. Moreover, it is used as an additive in the manufacture of emulsion paints due to its low toxic content. Furthermore, it acts as a key intermediate raw material in the production of DOSS surfactants. In addition, DOM acts as a non-phthalate plasticizer, and is used in resins to provide elasticity and flexibility.
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Region wise, the dioctyl maleate market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific has emerged as a global leader in the dioctyl maleate market attributable to upsurge in infrastructure and construction activities in the developing economies such as India and China. This has led to significant increase in the demand for adhesives, surfactants, and emulsion paints, which in turn has boosted the need for dioctyl maleate, thereby driving the market growth in the Asia-Pacific region.
According to Eswara Prasad, Manager, Chemical and Material at Allied Market Research, “The global dioctyl maleate market has registered high growth over the past few years. This is attributed to surge in demand for dioctyl maleate in the manufacturing of adhesive, emulsion paint, surfactant, textile coating and cosmetics. In addition, it also act as non-phthalate plasticizer. Owing to increase in demand for non-phthalate plasticizer in the manufacturing of food packaging film, toys and plastic medical devices due stringent government regulation regarding use of phthalate plasticizers as it has higher toxic chemical content.
Furthermore, due to increase in urbanization across developing economies like India and China government has undertaken various infrastructural development initiative that has led to increase in demand for surfactants, emulsion paint and adhesives and is expected to increase the demand for dioctyl maleate market. Moreover, increase in demand for skincare cosmetics across North America and Asia-Pacific is expected to drive the growth of dioctyl maleate market as it is used as emollient and as an external soothing agent, reducing irritation and soreness of the skin. These factors are expected to boost the demand for dioctyl maleate market and is projected to drive the growth of the market.”
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KEY FINDINGS of THE STUDY
• The Asia-Pacific dioctyl maleate market is predicted to hold a share of over 53.6% by 2026.
• The surfactant segment is expected to dominate the market, garnering a share 40.0% in 2018.
• The Europe dioctyl maleate market is predicted to hold a share of over 15.4% by 2026.
The key players operating in the dioctyl maleate industry include Biesterfield AG, Celanese Corporation, ESIM Chemicals, HallStar, Hangzhou Qianyang Technology Co., Ltd, Henan GP Chemicals Co., Ltd., Merck KGaA, Polynt SpA, Shandong Yuanli Science and Technology Co., Ltd., and Tokyo Chemical Industry Co., Ltd.