Dioctyl Adipate Market

dioctyl adipate market accounts for a valuation of US$ 1.83 Bn in 2022 and is projected to expand at a CAGR of 4.7% to reach US$ 2.9 Bn by the end of 2032 - PMR

NEW YORK, NEW YORK, UNITED STATES OF AMERICA, November 29, 2022 /EINPresswire.com/ -- According to a new research conducted by Persistence Market Research on the dioctyl adipate market, worldwide demand is estimated to reach a valuation of US$ 2.9 Bn by the end of 2032. The market is expected to expand at 4.7% CAGR owing to consistent demand from end uses such as packaging, medical, consumer goods, etc.

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The market for dioctyl adipate is primarily driven by rising demand from the packaging industry for the packaging of frozen food products. Sheets and films derived from dioctyl adipate are widely used as insulation material for cable and wiring owing to their superb performance and soft nature at low temperatures. Consequently, the rising demand for electrical components from the automotive, electronics, and construction sectors will escalate the demand for dioctyl adipate. The medical and healthcare sector also has crucial application of dioctyl adipate as a biodegradable material used in medical gloves, tubes, blood bags, etc.

The adoption of new and modified eco-friendly materials by end-use industries is a key trend that has been seen in recent years. Similarly, the expansion of production capacities and acquisitions to improve regional footprints are some of the key strategies being undertaken by dioctyl adipate manufacturers. To get the highest yield with high-quality products, manufacturers are adopting new & improved modified manufacturing techniques, which will set them apart from other market players.

Key Takeaways from Market Study

Demand for dioctyl adipate to exhibit 4.7% CAGR between 2022 and 2032.
Technical grade dioctyl adipate dominates and accounts for almost three-fourths market share by volume.
Films and sheets are the principle applications of dioctyl adipate, which will witness a surge in demand for use in packaging, cable & wiring, and consumer goods.
Acquisitions & expansion of production capacities are expected to remain key trends in the market.

“Growing consumption of dioctyl adipate coupled with increasing utilization of eco-friendly plasticizers in different end-use industries is expected to bolster market growth,” says an analyst at Persistence Market Research.

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Competitive Landscape

The global dioctyl adipate market is moderately consolidated with the presence of some dominating market players. These players collectively hold around 45&-50% of the market share.

Some of the top manufacturers included in the research study are BASF SE, ExxonMobil, Hallstar, Aarti Industries, Eastman Chemical Company, Hanwha Chemical, New Japan Chemical, GJ Chemical, Penta Manufacturing Company, and Bluesail Group.

Some of the key trends being observed during the last few years are expansion of production capacities and adoption of new & modified manufacturing techniques. Also, focus has been on research and development to produce dioctyl adipate from organic wastes that will reduce carbon footprints and provide sustainable production benefits to companies.

Conclusion

Consumption of dioctyl adipate has been predominantly influenced by factors such as growing population, increasing demand for PVC sheets and films from packaging industries, and growing use of biodegradable medical accessories, among others. Government restrictions and imposition of FDA regulations are pushing the traditional market of plastic and polymers toward more sustainable products, where materials such as dioctyl adipate will play a crucial role owing to their physical properties and environment-friendly chemistry.

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

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More Market Insights Available

In its latest report, Persistence Market Research offers an unbiased analysis of the global dioctyl adipate market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022-to 2032. To understand the global market potential, growth, and scope, the market is segmented based on grade, application, end use, and region.

About PMR – Chemicals and Materials

The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on ‘green alternatives’, recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing – ‘The Way Forward’.

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