The DINP market is projected to grow from USD 2.7 billion in 2019 to USD 3.2 billion by 2024, at a CAGR of 4.0%. There is an increase in the demand for flexible PVC for various applications such as flooring & wall covering, wires & cables, films & sheets, coated fabrics, and consumer goods. Flexible PVC is used in various applications in the building & construction industry. PVC has high demand due to its properties, such as flexibility, durability, toughness, weather-resistant, thermal resistant, and processability. Stringent safety regulations related to the production of phthalate based plasticizers are restraining the growth of the DINP market.
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On the basis of application, the flooring & wall covering segment is estimated to lead the DINP market
Flooring & wall covering is the largest application of DINP. The market in this application is growing due to the growing building & construction industry in countries of APAC such as India, China, Taiwan, and South Korea. There is huge investment in infrastructural projects in APAC, which is increasing the demand for flooring & wall covering. DINP provide thermal stability, flexibility, durability, and weather-resistant properties.
On the basis of polymer type, PVC is estimated to lead the DINP market
DINP is the most used plasticizer in PVC. It imparts various properties to PVC such as flexibility, stability, durability, thermal resistance, weather resistance, and high performance. Flexible PVC is easier to process than rigid PVC as the former has versatile performance properties. PVC finds applications in various industries such as building & construction, automotive, electronics, medical, and consumer goods. High growth in the commercial building & construction industry and the emergence of high-end real estate are expected to drive the demand for PVC in the construction industry.
APAC is estimated to be the largest DINP market owing to the high consumption in flooring & wall covering applications. Growing population, increasing disposable incomes, urbanization, and changing lifestyles are driving the DINP market. China, India, Japan, Taiwan, and South Korea are some of the key DINP markets in the region. Recent infrastructure developments and industrialization activities in the emerging countries have opened up new avenues and opportunities for DINP manufacturers.
The key players in the DINP market include BASF (Germany), ExxonMobil (US), Evonik Industries (Germany), UPC Group (Taiwan), KLJ Group (India), LG Chem (South Korea), Nan Ya Plastics (Taiwan), Aekyung Petrochemicals (South Korea), and Mitsubishi Chemical Holdings Corporation (Japan). These players have established a strong foothold in the market by adopting strategies such as expansion, new product launch, partnership, and acquisition.
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