New York, Oct. 26, 2022 (GLOBE NEWSWIRE) -- The global Dioctyl Adipate Market is estimated at US$ 1.83 Bn in 2022. Consumption of dioctyl adipate is anticipated to increase at 4.7% between 2022 and 2032 in terms of value to reach US$ 2.9 Bn by the end of 2032.
Dioctyl adipate, also referred as DOA, is a biodegradable plasticizer. It is a clear and colorless liquid miscible with organic solvents and compatible with a wide range of materials such as polymers, cellulose, synthetic rubbers, PVC, and waxes. The biggest advantage of DOA is that it outperforms other plasticizers in terms of performance and stability—even at low temperatures. This property of DOA enables its application in cold-resistant agricultural films, food packaging films, and electrical coatings.
Global demand for dioctyl adipate is being driven by its use as an environment-friendly plasticizer. It is one of the most widely used phthalate-free PVC plasticizers, accounting for up to 2.5% by volume of the global plasticizers market alone. It is used in many final products such as shoes, slippers, artificial leather, and PVC soles.
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According to the region-wise survey in this report, the Asia Pacific region, which leads both the production and consumption of plastic and polymer products, is also a prominent consumer of dioctyl adipate accounting for around 58% of global consumption.
Factors Hampering Dioctyl Adipate Market Progress
Although dioctyl adipate as a plasticizer provides lucrative market opportunities, the market is expected to witness strong competition from alternative materials. Biomass-based plasticizers and plant-based plasticizers are providing tough competition to dioctyl adipate.
DOA performs poorly when used in waterproof applications, which acts as a key limitation for its eclectic applications and potential replacement for phthalate plasticizers. However, blending DOA with certain materials can improve its waterproof quality and aid market growth over the coming years.
Key Companies-
- BASF AG
- ExxonMobil
- Hallstar Industrial
- Aarti Industries
- Hanwha Chemical
- BOC Sciences
- Eastman Chemical Company
- New Japan Chemical Co., Ltd.
- Henan Qingan Chemical Hi-Tech
- GJ Chemical
- Chongqing Caifchem Co., Ltd
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Dioctyl Adipate Industry Survey Segmentation
By Grade:
- Reagent
- Technical
- Food
By Application:
- Sheets
- Films
- Others
By End Use:
- Packaging
- Cable & Wiring
- Consumer Goods
- Medical Applications
- Wall Covering & Flooring
- Others
Competitive Landscape
Leading manufacturers of dioctyl adipate are focusing on the acquisition of other market players to increase their consumer base. Further, expansion strategies include capacity expansion and geographical expansion in emerging economies. Key players are also investing in research and innovations for product development and the introduction of sustainable products with short-period biodegradation properties.
- In April 2021, BASF launched a new series of plasticizers obtained from organic wastes instead of fossil fuels. Among these plasticizers, Plastomoll DOA BMB features dioctyl adipate as a biomass-balanced plasticizer.
- In August 2022, Hallstar announced its acquisition of the Lanxess manufacturing facility to improve its manufacturing efficiency and expand its product portfolio.
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Key Questions Answered in This Report.
- What is the current size of the dioctyl adipate market?
- What is the demand outlook for dioctyl adipate?
- Which are the key end uses of dioctyl adipate?
- What market share is held by key manufacturers of dioctyl adipate?
- Which countries/regions account for the highest dioctyl adipate demand?
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