Portland, OR, Oct. 22, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global dioctyl maleate market generated $242.6 million in 2018 and is expected to reach $326.1 million by 2026, growing at a CAGR of 3.7% from 2019 to 2026. The report offers an extensive analysis of the market including drivers & restraints, top winning strategies, market size & forecasts, competitive landscape, and changing market trends.
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Surge in demand for non-phthalate plasticizers, rise in construction activities in developing nations, and rise of the cosmetic & personal care product industry in emerging countries facilitate the growth of the market. However, accessibility of cheaper substitutes hinders the growth to some extent. Nevertheless, stringent regulations of government regarding phthalates would provide lucrative opportunities in the industry.
Based on end-use, the surfactants & wetting agent segment held more than two-fifths of the total market share in 2018 and is estimated to maintain its leadership status throughout the forecast period. This is due to rise in demand for surfactants to be utilized in manufacturing of personal care products and household detergents. On the other hand, the plasticizer segment is expected to register the highest CAGR of 4.2% from 2019 to 2026. This is attributed to rise in demand for flexible PVC products in different applications including construction, automotive, plastic medical devices, and food packaging films.
Based on geography, Asia-Pacific accounted for more than half of total revenue of the global dioctyl maleate market in 2018, and is projected to maintain its dominance throughout the forecast period. This region is also expected to grow at the highest CAGR of 4.1% from 2019 to 2026. Many large automobile players including BMW, Honda, Mercedes-Benz, Kia, Hyundai, and others have shifted their manufacturing facilities to this region owing to abundance of raw materials and low labor costs. The research also analyzes regions including North America, Europe, and LAMEA.
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Leading market players analyzed in the research include Biesterfield AG, ESIM Chemicals, Celanese Corporation, Hangzhou Qianyang Technology Co., Ltd., HallStar, Merck KGaA, Henan GP Chemicals Co., Ltd., Shandong Yuanli Science and Technology Co., Ltd., Polynt SpA, and Tokyo Chemical Industry Co., Ltd.
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