Dioctyl Fumarate (DOF) is widely known and used as a chemical intermediate and building block material for chemical production. DOF has a molecular formula of C20H36O4. Other than a chemical intermediate, DOF is used in paints & coatings, lubricants, adhesives, and for cosmetic applications. Growth in chemical manufacturing industries is anticipated to positively impact the expansion of the global dioctyl fumarate market size during the forecast period of 2020 to 2030.
Dioctyl Fumarate Market Trends
Eye on Customers: Product Customization Based on Purity: Dioctyl fumarate is one of the known additives used in chemical and other allied industries for various applications. End users are always demanding economic, customized, low-toxicity, high purity level range products from manufacturers or suppliers. In order to meet customized & tailored product demand, key manufacturers in the dioctyl fumarate market are focusing on improving product quality as well as purity level. This factor is also responsible for product innovation, which positively influences the demand and sales of dioctyl fumarate.
Robust Growth in Demand from Paints & Coatings Industry: End-use industries for dioctyl fumarate, such as paints & coatings, personal care, adhesives, and lubricants, among others, are likely to register steady growth during the forecast period. There has been rapid growth in the paints & coatings market in recent times, which includes dyes & pigments, owing to demand from industrial as well as architectural applications. Factors such as growing consumer spending and rising preference toward the use of varied colors are also anticipated to impact the colorants market. This, in turn, has been fueling the demand for dioctyl fumarate, which is required for the manufacturing of coatings, printing inks, cosmetics, and more, in turn, driving the dioctyl fumarate market at a global level.
Regional Outlook of Dioctyl Fumarate Market
Globally, East Asia is significantly diverse in terms of geo-political conditions, customer base, and regulations as compared to other regions of the world. China is one of the key countries in East Asia, and also diverse in terms of production of chemicals for the various end-use industries, owing to the prevalence of a large number for key manufacturers and availability of raw materials & labor at an economic price in the country. Thus East Asia, led by regions such as China, India, and Southeast Asia, is estimated to hold a major dioctyl fumarate market share in terms of value and volume, and is expected to remain dominant over the coming years. Moreover, East Asia is not just the largest demand destination for dioctyl fumarate, but also the largest production hub for the product in the world.
Key Factor for Success: Strategic Improvement
In getting acquainted with regional market structures and strategies, future opportunities for prominent players depend on their market understanding. In addition, an effective workforce can improve output in terms of quality as well as quantity, and thus help manufacturers achieve a higher share in the global dioctyl fumarate market. In addition, strong distribution networks will help multinational corporations gain a competitive advantage in regional markets, and further stabilize their position in the wider market ecosystem.
Manufacturers’ Focus: Economic Range Products
Manufacturers in the global dioctyl fumarate market space are planning to increase production levels through effective capacity utilization, and similarly focusing on developing innovative technologies to minimize their environmental footprint, reduce operational costs, and simultaneously increase product yield.
The global dioctyl fumarate market is moderately fragmented market in nature, with a cluster of major key players based in East Asia, especially China. In order to meet the overall demand for dioctyl fumarate, manufacturers are developing high quality/ purity grade products.
Dioctyl Fumarate Market - Fairly Competitive Space
The global market for dioctyl fumarate is characterized by fragmentation and consequently intense competition, with several global as well as medium- and small-scale players operating in the market. Owing to the presence of a number of regional & domestic players, localized presence near end-use markets becomes imperative for larger players in many regions. Some of the key players in the global dioctyl fumarate market are ESIM Chemicals Gmbh, Kawasaki Kasei Chemicals Ltd, Korea PTG Co. Ltd, Polynt SpA. TNJ Chemical Industry Co. Ltd, Tokyo Chemical Industry Co. Ltd, and Penta Manufacturing Company, among others.
COVID-19 Impact on Dioctyl Fumarate Market
The COVID-19 crisis has wreaked havoc across countries and has affected most sectors. This crisis has significantly impacted the demand for paints & coatings and adhesive products, which has weighed down heavily on the dioctyl fumarate market. Year-on-year growth is estimated to take a hit in the year 2020, and improvement is expected post the first quarter of 2021.
Dioctyl fumarate is expected to be a key ingredient for many functional additives, and its use as a chemical intermediate is also projected to increase. Manufacturers in the dioctyl fumarate market are focused on strengthening their global supply chain networks to continue meeting robust demand. Substantial demand from industries such as chemical manufacturing, paints & coatings, adhesives, lubricants, and cosmetics is expected to set the path for market growth over the coming assessment years. The impact of COVID-19 has been significant in the first two quarters of the year; however, the damage was limited as East Asian economies, particularly China, worked quickly to come back on track. The positive long-term economic outlook of key country markets is expected to create substantial opportunities for the growth of the dioctyl fumarate market.
Dioctyl Fumarate Market - Scope of the Report
Persistence Market Research (PMR) recently published a report on the global dioctyl fumarate market. The report provides detailed valuation on key market dynamics, such as the drivers, trends, opportunities, and restraints, along with detailed information about the dioctyl fumarate market structure. This market research report presents exclusive facts and figures about how the dioctyl fumarate market will grow over the forecast period of 2020 to 2030.
Key indicators of market background, such as value chain analysis and supply chain, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the dioctyl fumarate market over the forecast period.
The study is relevant for stakeholders in the dioctyl fumarate market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the dioctyl fumarate market can leverage the information and statistics presented in PMR’s research report.
The report includes facts & figures related to the micro- as well as macro-economic factors that are impacting the growth of the dioctyl fumarate market. The study also offers actionable insights based on the future trends in the dioctyl fumarate market. Furthermore, regional players and new entrants in the dioctyl fumarate market can also use the information presented in this report to make business decisions and gain momentum in the market.
Key Segments of Dioctyl Fumarate Market
PMR’s study on the dioctyl fumarate market is divided into three significant segments - grade, application, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.
Key Questions Answered in PMR’s Dioctyl Fumarate Market Report
Dioctyl Fumarate Market: Research Methodology
In PMR’s research report, exclusive research methodology is utilized to conduct comprehensive research on the development of the dioctyl fumarate market, and reach conclusions on the future growth factors of the market. In this research methodology, secondary and primary research is utilized by analysts to ensure the precision and reliability of the conclusions.
Secondary resources are referred to by analysts during the evaluation of the dioctyl fumarate market, which comprise facts and figures from the World Bank, IMF, US Energy Information Administration, International Energy Agency, local & regional government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, engineering managers, and production managers, to provide insightful information.
Comprehensive information acquired from primary and secondary resources is validated from companies operating in the dioctyl fumarate market, to make PMR’s projections on the growth prospects of the market more accurate and reliable.