Isononanoic Acid Market Current and Future Plans, Industry Analysis and Prospect by Forecast

 

Isononanoic Acid Market

Isononanoic Acid Market Outlook 2031

  • The global isononanoic acid market was valued over US$ 239.3 Mn in 2020
  • It is estimated to expand at a CAGR of 5.1% from 2021 to 2031
  • The global isononanoic acid market is expected to reach the value of US$ 408 Mn by the end of 2031

Isononanoic acid is also used in several other applications such as agrochemicals and coatings. Isononanoic acid is also employed as a building block in certain formulations in the production of plasticizers, PVC stabilizers, lubricants, cosmetics, and drying additives for coatings.

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Manufacturers are focusing on the cosmetics industry, as the share held by this application in the isononanoic acid market is likely to increase during the forecast period.

Isononanoic Acid Market: Dynamics

Isononanoic acid is primarily applied as a plasticizer in cosmetics and personal care products. It is used as a skin conditioning agent and cleansing agent. It is also used as an herbicide to prevent growth of weeds, both indoors and outdoors, and as a blossom thinner for apple and pear trees. The U.S. Food & Drug Administration (FDA) has approved the usage of isononanoic acid as a food additive, and has added it to the list of synthetic flavoring agents. Thus, it can now be added directly to food.

Paints and coatings are widely used in construction, automotive & transportation, and wood industries. They are primarily employed to protect structures from any external damage in the building & construction industry. Paints and coatings are utilized in various applications in decorating residential and non-residential infrastructure & buildings, industrial equipment, automobiles & marine, and industrial wood. Isononanoic acid is widely used as lubricant and plasticizer in paints and coatings. This is boosting the demand for isononanoic acid.

Isononanoic Acid Market: Prominent Regions

Asia Pacific dominates the global isononanoic acid market. The market in the region is anticipated to expand at a CAGR of more than 6.0% during the forecast period. Increase in demand for plasticizers, skin conditioning agents, and lubricants is driving the isononanoic acid market in Asia Pacific. China is a key country in the isononanoic acid market in Asia Pacific. It held major share of the isononanoic acid market in Asia Pacific in 2020. The country is estimated to maintain its dominant position in the region during the forecast period.

Europe is also a key region of the global isononanoic acid market. Rest of Europe led the isononanoic acid market in Europe in 2020. Presence of large numbers of cosmetics and lubricants manufacturers is driving the demand for isononanoic acid in Rest of Europe.

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Isononanoic Acid Market: Key Players

The global isononanoic acid market is consolidated with the presence of key players. Prominent players operating in the global isononanoic acid market include Haihang Industry, BASF SE, KH Neochem Co. Ltd., OQ Chemicals GmbH, BOC Sciences, Akin Chemicals Pvt. Ltd, Nease Co. LLC, JYT Chemical, Muby Chemicals, Aurum Pharmachemicals (P) Ltd., Haihang Industry Co. Ltd., Shijiazhuang Standard Chemicals Co. Ltd., Hairui Chemical, and Amadis Chemical Company Limited.

Global Isononanoic Acid Market: Segmentation

Isononanoic Acid Market, by Application

·         Skin Conditioning Agents

·         Cleansing Agents

·         Synthetic Flavoring Agents

·         Primers

·         Detergents

·         Lubrication

·         Herbicides

·         Others (including Emulsifying Agents)

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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