Diethyl phthalate is a phthalate ester. It appears as a clear, colorless liquid without any significant odor. It is more dense and insoluble in water. Hence, it sinks into the water.
Market Analysis
The diethyl phthalate market is forecasted to witness extraordinary growth in this decade. This is attributed to the high increase in the urban population and increased consumer spending abilities associated with a higher youth inclination towards grooming and styling. Also, the growing consumption of personal products and cosmetics is enhancing the scope for diethyl phthalate application and is acting as an agent determinant favoring the high market growth over this decade.
Growth of the market
The major factors responsible for the increase in population growth have boosted the need for modern-era agricultural cultivation with a good yield, which is also helping the market to rise. Besides this, the high acceptance of modern-day agricultural techniques has aggravated the demand for agrochemicals, making the demand rise positively impacting the diethyl phthalate market segment. The unprecedented growth of the packaging industry is helping the market to grow. Furthermore, plastics and polymers play a significant role in the industrial world; therefore, demand for polymers and plastics is expected to drive the need for the diethyl phthalate market.
Global Diethyl Phthalate, Market Scope, and Market Size
The Diethyl phthalate market is segmented based on type, grade, and application. The growth among the different market segments helps you attain the knowledge related to the other growth factors and the corresponding price rise expected to be prevalent throughout the market and analysis of different strategies to help identify essential application areas and the difference in your niche markets.
1. Based on the grade, the diethyl phthalate market is segmented into high purity (≤99%) and ultra-high purity (≥99.5%).
2. The type segment for the diethyl phthalate market is stratified into cosmetic grade and industrial grade.
3. On the application basis, the market of diethyl phthalate is segmented into a binder, plasticizer, and binder, cosmetic and solvent ingredients.
Plasticizers Market, by Region
Asia-Pacific accounted for the market's most significant share of diethyl phthalate in the last couple of years. The Asia-Pacific market for plasticizers is expected to rise at the highest CAGR in terms of value and volume. The Asia-Pacific plasticizers business is expanding as electronic & electrical industries are growing.
The Price Rise Game
The rise in PAN prices of diethyl phthalate is further related to the raw material Ortho Xylene (OX). The critical factors supporting the debate on the phthalic anhydride price rise remained the feedstock OX market fashion and its firm outlook. Suppliers have been vigilant in their offering as they expected the sales would jeopardise the cost risk amid continuously thrusting the OX markets. There could be a demand and supply gap, considering numerous previous trajectories.
Impact of Covid-19 on the Global Plasticizers Industry
Owing to the COVID-19 pandemic, the transportation of diethyl phthalate was acting heavily, resulting in decreased industrial production and broken supply chains, which affected global economic growth significantly and severely impacted the market growth.
The companies have not earned any profits. As a result, the work stopped, and not only did the companies lose money, but they also lost suppliers who were providing the required materials. Furthermore, due to social distancing procedures during COVID-19, the manufacturing companies worked with a minimal workforce, thus, negatively impacting the construction and production processes.