The Diisononyl phthalate Market size is estimated at USD 2.7 billion in 2019 and is projected to reach USD 3.2 billion by 2024, at a CAGR of 4.0%. The major restraint of the DINP market is the various regulations such as REACH (Europe) and ECHA (Europe). These regulations are restraining the use of phthalate based plasticizers due to its ill-effects to human health.
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Technological advancements in DINP have led to various improvements in terms of good flexibility, toughness, durability, weather resistance, and processability of PVC. Recently, DINCH (1,2-Cyclohexane dicarboxylic acid diisononyl ester) plasticizers have been developed. DINCH are chemically modified DINP. These plasticizers do not contribute to VOC or SVOC and can be used in applications involving human contact.
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On the basis of application, the DINP market is segmented into flooring & wall covering, wires & cables, films & sheets, coated fabrics, consumer goods, and others (medical devices, paints, inks, adhesives, sealants, and lacquers). Flooring & wall covering application has the largest share in the overall market. The market in this application is driven by the huge investment in the building & construction industry in emerging economies.
APAC is projected to be the fastest-growing Diisononyl phthalate market. This high growth is mainly driven by the growing population and high demand from the building & construction industry in developing countries. The demand for DINP is high in developing economies such as China and India. APAC is emerging as the fastest-growing market with the economic development in countries such as India, China, Taiwan, and South Korea driving the market. Recent infrastructure developments and industrialization activities in the emerging countries have opened up new avenues and opportunities for DINP manufacturers. The growth in infrastructure development projects has stimulated the demand for flooring & wall covering, which is a major application of DINP.
