NEW YORK, Nov. 23, 2016 /PRNewswire/ --
Tris nonylphenyl phosphite market is projected to reach USD 309.8 million by 2021
The global tris nonylphenyl phosphite market is projected to reach USD 309.8 million by 2021, at a CAGR of 5.6% from 2016 to 2021. The increasing consumption of phosphite based antioxidants in the polymers, petrochemicals, rubber and food packaging industries is driving the global tris nonylphenyl phosphite market.
One of the main restraints of this market is regulations on the use of phosphite antioxidants for food packaging applications and this may restrain the consumption of TNPP in this application.
Petrochemicals segment to register highest growth in the tris nonylphenyl phosphite market
The petrochemical industry is the second largest consumer of phosphite antioxidants. The demand for TNPP in the petrochemical industry has appreciated in the past due to its high processing stability. TNPP offers better stability and prevents discoloration during polymer processing. These inherent properties makes it a preferable material in the petrochemical industry. Moreover, there are limited price fluctuations in TNPP, and this has supported the consumption of TNPP in the petrochemical industry.
The petrochemical industry is planning on significant capacity expansions during the next 4-5 years due to the rising demand from end-users. With the growth in this application segment, the demand for TNPP is estimated to increase during the forecast period.
The tris nonylphenyl phosphite market in the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period
The Asia-Pacific tris nonylphenyl phosphite market is expected to grow at the highest CAGR from 2016 to 2021. Growth in this market is mainly attributed to the increasing demand for tris nonylphenyl phosphite antioxidants from end-use applications. TNPP offers an excellent price to performance ratio and is widely preferred as a stabilizer in polymer processing due to its economic benefits. The growing consumption of stabilizers in the Asia-Pacific region is expected to drive the TNPP market in this region. South Korea and China are the two major countries which are expected to grow at the highest CAGR during the forecast period.
The growth in these two countries is mainly due to the rising demand for polymer stabilizers and petrochemical products. One of the major producers of polymer stabilizers in this region is Songwon Industrial Co., Ltd.
BREAKDOWN OF PROFILE OF PRIMARY PARTICIPANTS:
- By Company Type: Tier 1 - 57 %, Tier 2 - 29%, and Tier 3 - 14%
- By Designation: C Level - 55%, Director Level - 36%, and Others - 9%
- By Region: North America - 57%, Europe - 14%, Asia-Pacific - 22%, and RoW - 7% (includes Latin America and Middle East & Africa)
Major companies profiled in this report are, Addivant USA, LLC (U.S.), Galata Chemicals Holding GMBH (Germany), Dover Chemical Corporation (U.S), Sterling Auxiliaries Pvt. Ltd. (India), Songwon Industrial Co., Ltd (Korea), Gulf Stabilizers Industries (Saudi Arabia) and the Sandhya Group (India).
The report categorizes the global tris nonylphenyl phosphite market on the basis of application and region. This report offers an overview of the market trends, drivers, and restraints with respect to the global tris nonylphenyl phosphite market. It also provides a detailed overview of the market across five regions, namely, Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America. A detailed analysis of the leading players, along with the key growth strategies adopted by them is also covered in the global tris nonylphenyl phosphite market report.
Reasons to Buy the Report:
This report covers the following key aspects:
- The market size by 2021 and the growth rate for the period 2016-2021
- The key market trends
- The factors that are expected to drive the market
- The barriers that impact market growth
- The key players in this market
- The global tris nonylphenyl phosphite market report covers key regions, such as North America, Europe, and Asia-Pacific, including major countries in these regions such as the U.S., China, South Korea, India, Russia, and Germany.
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