Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Dioctyl Adipate Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)" report has been added to ResearchAndMarkets.com's offering.
The global dioctyl adipate (DOA) market is witnessing robust growth, with a valuation of US$ 1.91 billion in 2024. By the end of 2031, the market is anticipated to reach an impressive US$ 2.8 billion, according to the latest survey conducted by the publisher.
Growing Demand for Environmentally Friendly Plasticizers
The global demand for DOA is primarily driven by its reputation as an environmentally friendly plasticizer. It ranks among the most widely used phthalate-free PVC plasticizers, constituting up to 2.5% of the global plasticizers market. DOA finds application in a multitude of final products, including shoes, slippers, artificial leather, and PVC soles.
The availability of DOA in different grades further fuels its demand. End users can choose between reagent grade DOA, technical grade DOA, and food grade DOA to meet specific regulatory requirements and produce tailored products.
The Asia Pacific region, known for its dominance in the production and consumption of plastic and polymer products, stands as a significant consumer of DOA, accounting for approximately 58% of global consumption.
DOA's Thermal Characteristics Create Opportunities
Unlike other plasticizers, DOA excels in thermal applications, remaining stable and pliable at low temperatures. This unique property has led to its adoption as an insulator for cables and wiring in automobiles and electrical appliances, ensuring smooth operation even in extreme weather conditions.
Expanding Roles in Food Packaging and Beyond
The packaged food industry's growth has boosted the demand for DOA, especially in its food grade. DOA is increasingly favored for use in commercial, residential, and industrial sectors, where it preserves frozen food products despite temperature fluctuations during transportation.
DOA in Healthcare: A Growing Market Segment
The healthcare sector benefits from DOA as a raw material to enhance the quality of medical devices. Its softness makes it ideal for manufacturing various medical tubes that provide optimal patient comfort without compromising on recovery and treatment. DOA is also used in medical flexible PVC tubing, gloves, and containers for managing bodily fluids, catheters, and ventilators.
Challenges and Competing Materials
While DOA offers lucrative opportunities, it faces competition from alternative materials, including biomass-based and plant-based plasticizers. DOA's performance in waterproof applications is a limitation, but blending it with specific materials can enhance its waterproof qualities.
Country-wise Insights
- China: China remains the world's largest producer and consumer of DOA, thanks to a flourishing chemical manufacturing industry, abundant supply chains, and government support.
- United States: The U.S. is the second-largest consumer of DOA globally, driven by demand from the PVC industry, infrastructure growth, and a thriving healthcare sector.
- India: India's growing appetite for sustainable chemicals propels the demand for DOA, particularly in packaging, urbanization, and healthcare.
Competitive Landscape
Key players in the DOA market are actively engaging in acquisitions, capacity expansion, and geographical growth. They are also investing in research and development to introduce sustainable products with biodegradation properties.
Key Companies Profiled
- BASF SE
- ExxonMobil
- Hallstar Industrial
- Aarti Industries
- Hanwha Chemical
- BOC Sciences
- Eastman Chemical Company
- New Japan Chemical Co., Ltd.
- Henan Qingan Chemical Hi-Tech
- GJ Chemical
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
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/93d7oa
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