PUNE, India, November 1, 2016 /PRNewswire/ --
The report "Tris Nonylphenyl Phosphite (TNPP) Market by Application (Stabilizers, Petrochemicals, Rubber) and Region (Asia-Pacific, North America, Europe, Middle East & Africa and Latin America) - Global Forecast to 2021", published by MarketsandMarkets, the global TNPP Market is projected to reach USD 309.8 Million by 2021, at a CAGR of 5.6% from 2016 to 2021.
Browse 40 market data Tables and 53 Figures spread through 107 Pages and in-depth TOC on "Tris Nonylphenyl Phosphite (TNPP) Market"
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This growth is mainly attributed to the increasing demand for tris nonylphenyl phosphite in stabilizers, petrochemicals, and rubber industries worldwide. Capacity expansions in the petrochemicals industry and the rising demand for polymer products are driving the global TNPP market.
Stabilizers application is expected to lead the tris nonylphenyl phosphite market by 2021
The stabilizer application segment accounted for a major share of the global tris nonylphenyl phosphite market in 2015. TNPPs are used as stabilizers during polymer processing. These phosphite antioxidants offer superior compatibility with polyethylene products and are very economical in terms of price to performance ratio. These product attributes make it a preferable polymer antioxidant in the plastics industry. The consumption of TNPP in the petrochemicals segment is expected to grow at the highest rate during the forecast period. However, the consumption of TNPP in the others segment which includes food packaging and hygiene products, is limited due to regulatory restrictions. Some of the manufacturers are developing new products which are nonyl-free and are preferred for food packaging applications.
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The Asia-Pacific region is expected to lead the tris nonylphenyl phosphite market during the forecast period
The Asia-Pacific region accounted for the largest share of the TNPP market in 2015, followed by North America and Europe. China is one of the major consumers of TNPP in the Asia-Pacific region. Some of the manufacturers in the plastic and petrochemicals industry have planned capacity expansions during the next 3-4 years and this is anticipated to drive the demand for TNPP from these end-use applications.
Major market players covered 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).
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