Europe Isononanoic Acid Market: Industry Analysis and Forecast (2024-2030)

Europe Isononanoic Acid Market Definition:

The isononanoic acid market is an important carboxylic acid intermediate. It is used in the production of synthetic polyol ester-based lubricants for freezing or aviation. The oxidation of isononyl aldehyde produces Isononanoic acid. It is a colourless, transparent liquid with a slight odour. Organic solvents are miscible with it. In water, isononanoic acid is only slightly soluble. The ECHA (European Chemicals Agency) classifies it as a harmful chemical because it causes serious eye injury and skin irritation when eaten. The high consistent purity of the product gives the application accurate and reliable attributes. Isononanoic acid is also utilised as a corrosion inhibitor in industrial fluids and coolants, and as a monomer in the manufacture of alkyd resins for stove enamels and two-component paints.

 

The Isononanoic Acid Market analyses and forecasts the market size, in terms of value. Further, the Isononanoic Acid Market is segmented by Grade, Application, End-Use, and geography. Based on Grade, the Isononanoic Acid Market is segmented under Industrial, Cosmetic, and Food. Based on the Application, the Isononanoic Acid Market is segmented under the Skin Conditioning Agents, Cleansing Agents, Primers, Detergents, Lubrication, and Others. Based on the End-Use, the Isononanoic Acid Market is segmented under the Cosmetics & Personal Care, Food, Agriculture, Paints & Coatings, Household & Industrial Cleaning, and Others. By geography, the market covers the following regions in Europe i.e. Italy, France, Russia, The United Kingdom, Rest of Europe.  The market sizing and forecasts have been done for each segment based on value (in USD Million).

 

 

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Europe Isononanoic Acid Market Dynamics:

Perstorp AB, a speciality chemical company based in Stenungsund, Sweden, has started producing Isononanoic acid. The Malmo, Sweden based firm is one of the several chemical suppliers that has increased capacity in recent years in response to increased demand for items like a new generation of refrigeration lubricants. Perstorp did not disclose the capacity or price of the project and the production will start and the liquid will be sold around the world. Isononanoic acid is also used in the manufacture of synthetic polyol ester lubricants and corrosion inhibitors used in coolants. Refrigeration lubricants are one of the major applications driving the demand for Isononanoic acid. Poly esters formulations have become attractive substitutes for chlorofluorocarbons, which enter the environment and deplete the ozone layer, which protects humans from damaging ultraviolet radiation. The Montreal Protocol, established by the United Nations asks for the progressive removal of CFCs. Refrigeration lubricants made from polyol esters do not deplete the ozone layer.

 

Isononanoic acid is compatible with refrigerants which do not deplete the ozone layer and pave the way for next-generation lubricants with low global warming potentials. Perstorp offers a complete range, including additional key polyols and carboxylic acids to help the cooling industry’s continued progress toward sustainability. BASF, OQ Chemicals and KH Neochem are expected to increase their Isononanoic acid production capacity during the forecast period.

 

Isononanoic Acid-Induced Cosmetics Products Provide Lucrative Revenue Opportunities for European Countries

The need for Isononanoic acid is fuelled by personal care and cosmetics. Isononanoic acid sales are included because of the rapid rise of e-commerce. Manufacturers in the Isononanoic acid market are benefiting from these trends. The consumer demand for Isononanoic acid-induced personal care and cosmetic goods is growing as customers’ lifestyle is good and disposable money rises. Germany, France, and Italy provide significant opportunities for increased sales of functional cosmetic products. Because acids are commonly used as a fragrance component and surface emulsifying agents in cosmetics this discovery is helping to increase the growth of the Isononanoic acid market.

 

Significant demand for Isononanoic acid in the cosmetic and personal care industry

During the forecast period, the demand for cosmetic and personal care products is expected to increase at a higher rate. The use of personal care products is anticipated to increase in the forecast period because of the growth of the world’s population. The consumer improved lifestyle and increased disposable money are expected to drive the demand for personal care products across the world. The functional cosmetics market is expected to benefit from the growth of the cosmetic and personal care industry owing to the increased awareness of skin care products, so the business is growing at a CAGR of more than 5%.

 

Europe Isononanoic Acid Market Segment Analysis:

By Application, the lubrication segment is expected to dominate as the isononanoic acid is used in the production of lubricants, cleaning agents, and many more. Because of this the market’s growth potential is fuelled by an increase in demand for these items. The rise in demand for industrial grade Isononanoic acid in a variety of industries, like industrial and institutional cleaning, agriculture and aviation is generating revenue in the Isononanoic acid market. Owing to the increased awareness about alternatives to mineral oil-related commodities, the market for synthetic lubricants for large-scale industries has grown. During the forecast period, demand for lubricants is expected to rise by increasing automotive and industrial sector. The industrial sector is attempting to reduce energy usage and the operational cost with the rise in the cost of powering industrial activity.

 

 

Europe Isononanoic Acid Market Key Players Insights:

The market is characterized by the existence of several well-known firms. These companies control a large portion of the market, have a wide Product Type portfolio, and have a Regional presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the European market, key players in the market, particularly in North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Europe Isononanoic Acid Market to the stakeholders in the industry. The report provides the most dominant trends in the Europe Isononanoic Acid Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Europe Isononanoic Acid Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Europe Isononanoic Acid Market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Europe Isononanoic Acid Market. The report studies factors such as company size, market share, market growth, revenue, production, volume, and profits of the key players in the Europe Isononanoic Acid Market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their Mobility quality is in the Europe Isononanoic Acid Market. The report also analyses if the Europe Isononanoic Acid Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, and if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Europe Isononanoic Acid Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Europe Isononanoic Acid Market Understanding the impact of the surrounding environment and the influence of environmental concerns on the Europe Isononanoic Acid Market is aided by legal factors.

 

Europe Isononanoic Acid Market Scope:

Europe Isononanoic Acid Market
Market Size in 2023	USD 58.40 Mn.
Market Size in 2030	USD 83.28 Mn.
CAGR (2024-2030)	5.2%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Grade Industrial Cosmetics Food
	By Application Skin Conditioning Agents Cleansing Agents Primers Detergents Lubrications Others
	By End-Use Cosmetics & Personal Care Food Agriculture Paints & Coatings Household & Industrial Cleaning Others
Country Scope	UK  France Germany Italy  Spain  Sweden Austria and Rest of Europe

 

Europe Isononanoic Acid Market Key Players: 

• Perstorp (Sweden)
• ICC Industries B.V. (New York)
• ExxonMobil Chemical Europe (US)
• BOC Sciences (New York)
• OQ Chemicals GmbH (Germany)
• Nease Co LLC. (Germany)
• Akin Chemicals Pvt. Ltd. (Maharashtra, India)
• Muby Chemicals (Maharashtra, India)
• JYT Chemicals (China)
• Haihang Industry Co. Ltd. (Jinan, China)
• Aurum Pharmachemicals (P) Ltd. (Kolkata, India)
• Hairui Chemical (China)
• Shijiazhuang Standard Chemicals Co. Ltd. (China)
• Amadis Chemical Company Ltd (China)