Transparency Market Research in its new report titled, “Isononanoic Acid Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the Isononanoic acid market. The TMR report anticipates that the rise in consumption of cosmetics and personal care products will drive the Isononanoic acid market during the forecast period i.e, 2018-2026.
The TMR report has segregated the isononanoic acid market on the basis of application, and region. In terms of application, the isononanoic acid market is split into cosmetics & personal care, food additives, and bio-pesticides. Among these, the cosmetics & personal care segment held the leading market share in 2017, due to extensive usage of isononanoic acid in household and industrial detergents, soaps, face washes, spray washes, hypochlorite detergents/sanitizers, and dish wash liquids. However, toxicity of isononanoic acid and regulations imposed by ECHA are hampering the segment. Oxea, a Germany-based manufacturer of isononanoic acid, announced on April 1, 2018 that prices of isononanoic acid in Europe are likely to increase by US$ 182.2 per ton (EUR 150 per ton) and will be followed by the end of the month, the report says.
From a regional perspective, the global isononanoic acid market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of consumption, Asia Pacific held a major share of the global isononanoic acid market in 2017 and the trend is likely to continue during the forecast period also. The market in Asia Pacific is anticipated to register a significant growth rate during the forecast period. Rise in consumption of cosmetics and personal care products and rising preference for beauty products by people, especially in South Korea, Japan, and China, are major factors anticipated to fuel the demand for isononanoic acid in Asia Pacific in the next few years. China and India are expected to hold a major share of the Asia Pacific market for isononanoic acid during the forecast period. Europe and North America are anticipated to follow Asia Pacific between 2018 and 2026. The market in other regions such as Latin America and Middle East & Africa is anticipated to witness sluggish growth during the forecast period.
As per the TMR’s report, a large number of companies operate in the global isononanoic acid market. Several regional and local traders, distributors, and importers supply isononanoic acid to end-users. Prominent companies operating in the global isononanoic acid market are profiled in this report to give a better competitive analysis and these include Nease Co, LLC, OXEA Chemicals, KH NeoChem, BOC Sciences, FiniPharma Limited, and BASF.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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