Dioctyl Adipate Market Trends

Growth Drivers

• Growing Food Packaging Industry – On account of the increasing working population across the globe, the market is expected to expand more in the upcoming years. Further, dioctyl adipate is used in the production of flexible PVC films used in food packaging, which in turn will boost the market growth over the forecast period. As per statistics, each year, over 10 million more people in India enter the working population.

• Rising Demand of Electrical Appliances – Growing number of households across the globe is estimated to drive market growth. According to estimates, residential appliances make for over 10% of the world's total final power usage.

• Increasing Usage of Plasticizers –Dioctyl adipate is suited for usage as a plasticizer owing to its wide molecular space, high boiling temperature, and low vapor pressure. It is a premium plasticizer that exhibits exceptional mechanical resilience at high temperatures and moderate volatility. Over the next few years, the worldwide consumption of plasticizers will increase by more than 3% annually.

• Growing Demand of Rubber – The growing demand for rubber in automotive applications and latex products, is anticipated to drive the market growth. Dioctyl Adipate is a chemical compound used to make synthetic rubber, it is also used as an essential ingredient in many applications, including tyres, shoe bottoms, and hoses. Moreover, rubber is frequently utilized in flexible materials like sheets, wires, and cables, which increases the need for DOA in the rubber sector. As of 2022, India consumed over 0.70 million metric tonnes of synthetic rubber.

Challenges

• Decreased Use of Plastics as a result of Increased Environmental Awareness - The increasing awareness amongst individuals for the impact on environment associated with the consumption of plastics is one of the major factors predicted to slow down the market growth. For instance, a variety of plastics and coating materials are made using dioctyl adipate, which can lead to environmental degradation.
• Inability to Withstand Hydrolysis Reactions
• Alternative Materials Pose a Serious Threat