1,3-Dioxolane Market Expected to Witness a Single Digit CAGR Over the Forecast Period of 2019-2029

Posted on 2019-07-01 by Mark Hub in Automotive // 0 Comments

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1,3-Dioxolane possess properties of strong aprotic solvents and is used in a number of formulations and production processes. The global market report on 1,3-dioxolane market covers its applications which include being used as solvents and as a monomer or co-monomer in formation of Polyacetal resins. The global 1,3-Dioxolane Market is expected to witness a single digit CAGR over the forecast period of 2018-2028. A number of application segments for 1,3-dioxolane are due to its ability to dissolve polar polymers including epoxies, urethanes and polyesters. Dioxolane is being widely accepted in waterborne coatings formulation, due to its high solvency and water solubility. This has further led to increasing consumption as a replacement for other conventional solvents like halogenated, aromatic, and problematic solvents. Furthermore, its low boiling point helps attain relatively fast drying. Its use as a swelling and finishing agent in the textiles industry is another niche application for 1,3-dioxolane which will rise in the long-term forecast. However, stringent regulations regarding 1,3-dioxolane is turning out to be a major restraint for market growth over the forecast period.

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1,3-dioxolane also finds application as a solvent in the petroleum industry for removal of tar and asphaltines. The oil & gas industry has witnessed a severe turnaround in the past few years with crude oil prices fluctuating in between $25-$70 per barrel. These fluctuations have had quite some impact on the 1.3-dioxolane market. Moreover, surging textile industry across the globe is calling for high adoption of 1,3-Dioxolane which is further positively influencing the market growth in the mid, and long term forecast. In the textiles application segment, countries with the largest output for textiles including China, India, etc., will control the market growth. As per Federation of Indian Chambers of Commerce & Industry, the global textile and apparel trade was estimated to be around US$ 750 Bn in 2017 that grew with a CAGR of 2% over 2007-2017. In addition, the overall apparel consumption is estimated to rise at a CAGR of 4% to touch US$ 2.6 trillion by the end of 2025. European Union, United States, China and Japan are amongst the top countries considering apparel consumption. Such high growth in the textile industry tends to create wide adoption base for 1,3-dioxolane that would escalate the market growth. Furthermore, governments of countries such as India, China, and United States etc. along with the clothing companies have announced significant investments within the textile sector that would present enormous opportunities to the market till 2028. Excluding the niche applications of 1,3-dioxolane, its use in plastics accounts for the lion’s share. Polyacetals growth is forecast in the range of 3-4% during the long term forecast. This growth is attributed to the growth of the automotive and electrical & electronics sector. Moreover, the increasing population along with increasing automotive production and high demand for 1,3-dioxolane by the end-user industries also tends to positively influence the market growth till 2028.

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The global 1,3-Dioxolane market is segmented into seven regions including North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa (MEA). Among the above-mentioned regions, East Asia and South Asia have accounted for majority of the market share under the global 1,3-dioxolane market owing to high adoption of 1,3-dioxolane within the textile industry. In addition, growing metal working industry and steadily growing apparel industry also drive the regional 1,3-dioxolane market. Furthermore, Europe is projected to showcase moderate growth in the global 1,3-Dioxolane market. Moreover, North America is expected to hold significant market share till 2028 owing to the presence of a number of chemical companies and high textile production coupled with the presence of various key players in the 1,3-dioxolane market. Also, Middle East & Africa is expected to register significant growth rate owing to rising oil & gas industry along with increasing demand of 1,3-dioxolane from the chemical industry.

Key players of 1,3-Dioxolane Market

Prominent players in the global 1,3-dioxolane market are BASF SE, Merck, TCI Chemicals Pvt. Ltd., Callahan Chemical Company, Jiangsu Senxuan Pharmaceutical And Chemical Co.,Ltd. etc. The 1,3-dioxolane market consists of well-diversified global and regional players with global vendors ruling the market.

The research report presents a comprehensive assessment of the 1,3-Dioxolane market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The 1,3-Dioxolane market report provides analysis and information, according to market segments such as geographies and application.

The 1,3-Dioxolane 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 1,3-Dioxolane report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The 1,3-Dioxolane report also maps the qualitative impact of various market factors on market segments and geographies.

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