Isononanoic Acid Market: Introduction
Transparency Market Research delivers key insights on the global isononanoic acid market. In terms of revenue, the global isononanoic acid market is estimated to expand at a CAGR of 5.1% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global isononanoic acid market.
The global isononanoic acid market is broadly affected by several factors, including usage of isononanoic acid in various applications such as skin conditioning agents, cleansing agents, synthetic flavoring agents, primers, detergents, lubrication, and herbicides. Rise in global demand for cosmetics, lubricants, and primers has led to significant growth in usage of isononanoic acid as a plasticizer. Growth in production and demand for plasticizers is expected to be the primary driver of the isononanoic acid market. Increase in application of isononanoic acid in cosmetics, led by the rise in consumption of isononanoic acid as plasticizer, is also projected to augment the global isononanoic acid market in the near future.
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 is utilized in the production of polyolester synthetic lubricants. It is used as a building block in several high performance formulation. Examples for such formulations are synthetic refrigeration lubricant for air conditioners using more environment-friendly refrigerant technologies to address sustainability needs. Another example for the usage of isononanoic acid is synthetic lubricant for the aviation industry.
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.
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: 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.
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 Grade
Isononanoic Acid Market, by Purity
- Up to 90%
- >90% to 95%
- >95% to 97%
- Above 97%
Isononanoic Acid Market, by Application
- Skin Conditioning Agents
- Cleansing Agents
- Synthetic Flavoring Agents
- Others (including Emulsifying Agents)
Isononanoic Acid Market, by End-use
- Cosmetics & Personal Care
- Paints & Coatings
- Household & Industrial Cleaning
- HVAC & Lubricants
- Others (Automobiles and Aviation)
Isononanoic Acid Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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