Tris Nonylphenyl Phosphite Market to grow by USD 132.84 million from 2022 to 2027 | The rising demand for plastic additives from developing countries drives the market - Technavio

NEW YORK, Aug. 24, 2023 /PRNewswire/ -- The tris nonylphenyl phosphite market is set to grow by USD 132.84 million from 2022 to 2027 progressing at a CAGR of 6.38% during the forecast period. Discover Diversified Chemicals industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!

The tris nonylphenyl phosphite market covers the following areas:

Tris Nonylphenyl Phosphite Market Sizing
Tris Nonylphenyl Phosphite Market Forecast
Tris Nonylphenyl Phosphite Market Analysis

Company Landscape

The tris nonylphenyl phosphite market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Company Offerings 

• ADEKA Corp. - The company offers tris nonylphenyl phosphite such as CAS 26523 78 4.
• Adishank Chemicals Pvt. Ltd. - The company offers tris nonylphenyl phosphite solutions such as additives for surface coating.
• Alfa Chemical Co. Ltd. - The company offers tris nonylphenyl phosphite solutions such as Antioxidants for rubber polymers.

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Key Market Segmentation

This report extensively covers market segmentation by application (stabilizers, petrochemicals, and rubber), end-user (plastics and rubber industry, chemical industry, adhesives and sealants industry, and others), and Geography (North America, APAC, Europe, South America, and Middle East and Africa). 

• The market share growth of the stabilizers segment will be significant during the forecast period. Stabilizers are 'intended additions' used to mitigate environmental influences on the polymer such as heat and UV radiation. They expand the speed and quality of plastic product production, enhance the useful life of plastic products, and make recycling plastic products easier. They are integrated into plastics to provide defense against mechanical, UV, and thermal degradation during production and usage. Thus, the increasing use of TNPP as a stabilizer in the plastic and rubber industry will increase the growth of the TNPP market during the forecast period.

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Regional Market Outlook

North America is estimated to account for 38% of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Owing to the growing demand for TNPP in end-user industries such as petrochemicals, North America is anticipated to be the largest geographical segment of the TNPP market during the forecast period. The growth in the petrochemical industry has driven the demand for TNPP. Developed economies, such as the US, currently use up to 20 times as much plastic and up to 10 times as much fertilizer as emerging economies, such as India and Indonesia, on a per capita basis. Therefore, the rising petrochemical industry in the region will increase the demand for TNPP, which in turn will fuel the growth of the regional TNPP market during the forecast period.

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Companies Mentioned

• ADEKA Corp.
• Adishank Chemicals Pvt. Ltd.
• Alfa Chemical Co. Ltd.
• BOCSCI Inc.
• Cymit Quimica S.L.
• Galata Chemicals LLC
• Gulf Stabilizers Industries
• Hangzhou Keying Chem Co. Ltd.
• LEAP CHEM Co. Ltd.
• PCC Rokita SA
• Sagechem Ltd.
• Sandhya Organic Chemicals Pvt. Ltd.
• Songwon Industrial Co. Ltd.
• Sterling Auxiliaries Pvt. Ltd.
• Wego Chemical Group Inc.
• Dover Chemical Corp.
• Kuilai Chemical Co.                               

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Market Dynamics

Key Tris Nonylphenyl Phosphite Market Driver

The rising demand for plastic additives from developing countries is a major factor notably driving the market growth. The major factor boosting the demand for plastic additives such as TNPP globally is the rapid urbanization taking place in developing regions such as APAC, the Middle East, and Latin America which resulted in a rise in construction activities. Also, these regions have experienced an increasing use of TNPP in engineering medical devices due to enhancing properties. Increased buying capacity and increased urbanization have fostered the demand for automobiles, thus fast-tracking the application of TNPP in automotive manufacturing industries. Consequently, significant growth in the automotive industry is increasing the demand for plastic additives such as TNPP in emerging economies like India. Therefore, the market in focus is anticipated to experience growth during the forecast period. 

Significant Tris Nonylphenyl Phosphite Market Trend

Growing demand for TNPP in petrochemicals is the key trend in the market. 

Major Tris Nonylphenyl Phosphite Market Challenge

Volatility in the price of petroleum-based raw materials is the major challenge hindering market growth. 

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Key Topics Covered:

Executive Summary

Market Landscape

Market Sizing

Historic Market Size

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

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