Para-tert-Octylphenol (POTP) Market Segmentation:
Application Segment Analysis
The printing inks segment is expected to garner the largest market share of about 50% over the forecast period. The major factor for its growth is the surging application of printing inks in the metal, paper, plastics & glass industry. Hence, with the surge in manufacturing of these materials the segment is also set to flourish. For instance, global production of stainless steel is projected to be about 57 million metric tons in 2021. Comparing the volume to 2020, there was an increase of almost 12%. In case of stainless steel, it has been currently utilized in the food & and beverages industry which is why the need for printing inks is growing to print the brand information on it. Furthermore, the demand for digital printing is growing owing to growing digital advancement since it offers low production time and is considered to be environmentally friendly.
Product Type Segment Analysis
The industrial grade segment in the para-tert-Octylphenol market is predicted to capture the highest share of about 60% during the forecast period. Industrial grade, including those used in transportation, and factory automation, can withstand more harsh conditions than consumer products. Industrial-grade memory has a wider temperature range and can operate in situations with high degrees of harsh environments. Hence, owing to this factor the demand for this segment is projected to grow.
Our in-depth analysis of the global market includes the following segments:
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