Market Trends of Dioctyl Maleate (DOM) Industry
This section covers the major market trends shaping the Dioctyl Maleate Market according to our research experts:
Growing Demand for Surfactant Application
- Dioctyl Maleate (DOM) is used as an additive and intermediate in the synthesis of organic compounds.
- It is used as a chemical intermediate in the production of the surfactants.
- It is used in the manufacturing of sulfosuccinates which are used as wetting agents for detergent applications.
- The demand for surfactants is increasing in recent times owing to its applications such as soap and detergent, personal care, lubricants and fuel additives, industry and institutional cleaning, food processing, oilfield chemicals among others.
- Therefore, the demand for dioctyl maleate is expected to increase from surfactants applications in coming years.
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Asia-Pacific to Dominate the Demand
- The demand for Dioctyl Maleate in Asia-Pacific region is expected to rise at a great pace due to the increase in demand in various application such as surfactant, adhesives, plasticizers, and inks & coatings among others.
- Asia-Pacific region is the largest producer and consumer of paints & coatings across the globe. The region is home for global manufacturers like Nippon Paints, Kansai Paints, Asian Paints, etc.
- China produces more than half of the Asia-Pacific coatings, and is home to more than 10,000 paint companies, among which local producers occupies more than half of the domestic paint market share.
- China is becoming the largest market in terms of cosmetics and personal care products, globally. Beauty sector in the country has witnessed a growth of around 5% in the past ten years.
- The construction activities in India are also growing owing to the government initiatives such as housing for all by 2022, and Pradhan Mantri Awas Yojana.
- Additionally, increasing consumer interests in skincare and makeup has been propelling the demand for the market studied in recent times.
- The construction industry in Japan is expected to witness major growth opportunities in the coming years. The infrastructure sector is expected to be benefitted by the country’s preparation for the 2020 Olympics.
- Therefore, this growing construction activities are expected to boost the demand for adhesives, paints and coatings which is further boosting the demand for Dioctyl Maleate in adhesives and coatings applications in coming years.
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