The market for tris nonylphenyl phosphite was valued at US$ 320.42 Million in FY 2022, and is likely to reach US$ 340.28 Million by 2023-end, experiencing a Y-o-Y growth of 6.2%. During the forecast period 2023 to 2033, sales are anticipated to increase at a CAGR of 6% to reach a valuation of US$ 609.37 Million. Demand is most likely rise due to extensive applications in the packaging, petrochemicals and food packaging industries.
Across the chemical industry, demand for phosphite-based antioxidants is rising. These antioxidants impart excellent heat stability, as well as enhanced compatibility with resins. Additionally, they provide greater extraction resistance. Tris nonylphenyl phosphite (TNPP) possesses these aforementioned properties. They are also less volatile compared to other antioxidants.
The non-toxic nature of TNPP renders it highly suitable for manufacturing PVC bottles, food wrapping and as sealing gaskets for food containers. Furthermore, it prevents yellowing of synthetic rubbers and ABS plastics during the heating process. TNPP also serves as an effective process stabilizer for thermoplastic polymers such as polyester, polyethylene and polypropylene.
Regionally, the tris nonylphenyl phosphite market is anticipated to accrue major benefits in the USA. This is primarily attributed to an emerging plastic manufacturing industry. As natural gas production booms, use of plastic-based raw materials and chemicals has risen significantly, leading to a fall in the price of produced plastics. Consequently, prominent manufacturers are looking to establish base across the American market.
However, the top spot regarding tris nonylphenyl phosphite demand is expected to be filled by Western Europe. Like the USA, sales are expected to be majorly driven by applications in plastic manufacturing. As of 2021, plastic producers planned significant investments in chemical recycling technologies, expected reach amount to €2.6 Billion by 2025. Also, the European plastic industry ranks 8th in terms of industrial value. Also, as of 2020, total output of plastics in Europe reached 55 Million tons.
Data Points | Key Statistics |
---|---|
Market Value for Tris Nonylphenyl Phosphite in 2022 | US$ 320.42 Million |
Expected Market Value for Tris Nonylphenyl Phosphite in 2023 | US$ 340.28 Million |
Projected Forecast Value for Tris Nonylphenyl Phosphite Demand in 2032 | US$ 609.37 Million |
Global Growth Rate (2023 to 2033) | 6% CAGR |
Presently, the tris nonylphenyl phosphite landscape is witnessing significant developments by key players. A large part of this is evident in the form of massive investments across prominent end use industries. For instance, in October 2022, Songwon Industrial Co. Ltd. announced a slew of investments in strengthening the global plastic industry. The company has decided to accelerate its long-term strategic efforts in order to fulfil current and ever-increasing demand. The company also announced the launch of new antioxidant chemical product lines- the SONGNOX 9228 and SONGSORB 1164 UV absorber.
Likewise, Valtris Specialty Chemicals was acquired from H.I.G Capital by SK Capital Partners. Valtris develops products that provide essential performance properties across a variety of applications including plastics, coatings, adhesives and sealants, pharmaceuticals, flavors and fragrances, and personal care products. With this acquisition, SK Capital hopes to enhance its focus on specialty chemicals, materials and pharmaceutical sectors.
While significant developments are in store for the market, there are a couple of factors which may restrain said growth. One major concern regarding TNPP is its adverse impact on aquatic species. Nonylphenol can cause endocrine disruption in fish by interacting with estrogen receptors and androgen receptors. Studies report that nonylphenol competitively displaces estrogen from its receptor site in rainbow trout. Additionally, it can cause fermentation of aquatic organisms, reduce male fertility and decrease chances of survival of young fish. Studies show that male fish exposed to nonylphenol or nonylphenyl compounds have lower testicular weight.
Tris nonylphenyl phosphite are the chemical compound as an antioxidant in various industries such as packaging, petrochemicals, and chemical. The global tris nonylphenyl phosphite marketis expected to have significant growth rate, attributed to growing food packaging industry across the globe.
North America and Western Europe have significant revenue share in the global tris nonylphenyl phosphite market, attributed to the prevalence of diseases, rapid rate of urbanization, and increasing health awareness in the region over the forecast period.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The growth of the global tris nonylphenyl phosphite marketis driven by growing petrochemical, food, and chemical Industry. Increasing use of phosphite based antioxidants in the petrochemicals, polymers, food packaging industries, and rubber also fueling the global tris nonylphenyl phosphite market.
The restraining factor for global tris nonylphenyl phosphite market is its adverse effect on health. The factor trending the demand for global tris nonylphenyl phosphite marketinclude increasing demand for packaged food and changing lifestyle of consumers. The company providing the joint compound have significantly high opportunity in regions such as North America, Eastern Europe, and Asia-Pacific, owing to the significant demand for a phosphite antioxidant in the regions.
Tris nonylphenyl phosphite marketalso has a significant opportunity in Latin America and the Middle East and Africa region as these are the emerging market, attributed to growing packaging industry in the region.
The global tris nonylphenyl phosphite marketis segmented on the basis of end-user, application, and region. On the basis of end-user, the global tris nonylphenyl phosphite marketis segmented as packaging industry, chemical industry and others, wherein chemical industry have significant revenue share in global tris nonylphenyl phosphite marketand is expected to have substantial growth rate.
On the basis of application, the tris nonylphenyl phosphite marketis segmented as petrochemicals, stabilizers, and rubber. Among the application segment, petrochemicals segment contribute for the significant revenue share over the forecast period in the global tris nonylphenyl phosphite market, attributed to high demand for phosphite antioxidant in petrochemicals.
Based on the geographies, the global tris nonylphenyl phosphite marketis fragmented into seven regions -- North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific except Japan, Japan, and the Middle East & Africa. Among the regions, North America accounts for a significant share of the global tris nonylphenyl phosphite marketin terms of value.
Western Europe revenue share is followed by North America region in the global tris nonylphenyl phosphite market. The Asia-Pacific except Japan region accounts for significantly high volume share in the global tris nonylphenyl phosphite market with significant growth rate, owing to high demand for petrochemicals and polymer stabilizer in China and South Korea. Eastern Europe and Japan also accounts for significant value share in the global tris nonylphenyl phosphite market.
The developing economy such as Middle East Africa and Latin America have a substantial growth in the global tris nonylphenyl phosphite market, owing to the substantial growth in the petrochemical industry over the forecast period. Overall, the outlook for the global tris nonylphenyl phosphite marketwill have a positive growth over the forecast period.
Few players in the global tris nonylphenyl phosphite marketinclude Sandhya Group, Songwon Industrial Co., Ltd, Dover Chemical Corporation, Galata Chemicals Holding GmbH, Addivant USA, LLC, Gulf Stabilizers Industries, and Sterling Auxiliaries Pvt. Ltd.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Based on end-user, the global tris nonylphenyl phosphite marketis segmented intoPackaging Industry
Based on application, the global tris nonylphenyl phosphite marketis segmented into:
According to Future Market Insights, tris nonylphenyl phosphite sales are likely to be valued at US$ 340.28 Million
By 2033, demand for nonylphenyl phosphite is expected to reach US$ 609.37 Million
During the 2023-2033 forecast period, the tris nonylphenyl phosphite market is expected to grow at a CAGR of 6%
Explore Chemicals & Materials Insights
View Reports