Tris Nonylphenyl Phosphite Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, Germany, Japan, UK - Size and Forecast 2024-2028

Tris Nonylphenyl Phosphite Market Size 2024-2028

The tris nonylphenyl phosphite market size is estimated to grow by USD 150.7 million, at a CAGR of 6.78% between 2023 and 2028. Plastic additives play a crucial role in enhancing the properties of plastic materials, making them ideal for various industries. In developing countries, the growing economy and increasing infrastructure development are driving the demand for plastic products. This, in turn, is boosting the demand for plastic additives. Furthermore, the packaging industry is a significant consumer of plastic additives due to their ability to improve the durability, flexibility, and color of plastic packaging materials. The trend towards using recycled plastics in packaging is also contributing to the demand for additives, as they help maintain the quality and performance of recycled plastic products. Overall, the packaging sector's growing demand for plastic additives is expected to remain a key growth driver for the industry.

What will be the size of the Market During the Forecast Period?

To learn more about this report, Download Report Sample

Market Dynamics

The market is growing rapidly due to its vital role in stabilizing thermoplastic polymers like polyethylene, polypropylene, and ABS plastics. This compound is essential for enhancing the extraction resistance of various plastic-based products, including PVC bottles, food wrapping, and sealing gaskets. As plastic producers address the price of produced plastics, Tris Nonylphenyl Phosphite helps in managing the value share of synthetic rubbers and polyester products. The positive growth of this market is driven by increased personal care products usage, changing lifestyles, and the prevalence of diseases affecting male fertility and testicular weight. In developing economies, this growth reflects a rapid rate of industrial expansion, supporting sectors from fermentation to joint compound applications. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The rising demand for plastic additives from developing countries is notably driving market growth. The rapid urbanization taking place in developing regions such as APAC, the Middle East, and Latin America has resulted in a rise in construction activities, thus boosting the demand for plastic additives such as TNPP globally. These regions have also witnessed a rising use of TNPP in engineering medical devices owing to enhancing properties.

The considerable growth in the automotive industry in these regions, owing to increased buying capacity and increased urbanization, has stimulated the demand for automobiles, thus fast-tracking the application of TNPP in automotive manufacturing industries. Significant growth in the automotive industry is consequently augmenting the demand for plastic additives such as TNPP in emerging economies like India. Hence, the market in focus is expected to witness growth during the forecast period. 

Significant Market Trend

Growing demand for TNPP in petrochemicals is one of the major market trends. The second-largest consumer of antioxidant phosphite is the petrochemical industry. The great processing stability of TNPP has historically led to increased demand for the TNPP in the petrochemical sector. TNPP provides improved stability and minimizes color fading during polymer manufacturing. These inherent qualities make it a desirable material to provide stability in chemical reactions carried out in the petrochemical sector.

Additionally, the minor price variations of TNPP have aided TNPP consumption in the petrochemical sector. The petrochemical sector is anticipating significant capacity increases over the next 4-5 years in response to the increased demand from end-users. Thus, the growth in the petrochemical industry worldwide will increase the demand for TNPP, which in turn will boost the growth of the global market during the forecast period. 

Major Market Challenge

Volatility in the price of petroleum-based raw materials is the major challenge to market growth. Prices of raw materials such as polymers, additives, resins, and pigments keep on fluctuating. The carrier compounds and resins in additives are petroleum derivatives. Thus, the prices of these materials vary according to the natural gas and crude oil prices. The fluctuation in oil prices in recent years has compelled players operating in the oil and gas industry to implement cost-cutting measures such as workforce layoffs and rig idling.

Moreover, the invasion of Ukraine by Russia in February 2022 skyrocketed the price of crude oil. Even prior to the full escalation of the war, oil prices were increasing across the world. Fluctuations in prices not only affect the cost of production but also have adverse effects on the expected profit margins of Companies. Therefore, the volatility of crude oil prices will negatively affect the growth of the global TNPP market during the forecast period.

Key Customer Landscape

The market research and growth report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Customer Landscape

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Adishank Chemicals Pvt. Ltd. -  The company offers tris nonylphenyl phosphite solutions such as additives for surface coating.

The market growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market Companies, including:

• ADEKA Corp.
• Adishank Chemicals Pvt. Ltd.
• Alfa Chemical Co. Ltd.
• BOCSCI Inc.
• Cymit Quimica S.L.
• Galata Chemicals LLC
• Gulf Stabilizers Industries
• Hangzhou Keying Chem Co. Ltd.
• LEAP CHEM Co. Ltd.
• PCC Rokita SA
• Sagechem Ltd.
• Sandhya Organic Chemicals Pvt. Ltd.
• Songwon Industrial Co. Ltd.
• Sterling Auxiliaries Pvt. Ltd.
• Wego Chemical Group Inc.

Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.

Market Segmentation

By Application

The market share growth of the stabilizers segment will be significant during the forecast period. Stabilizers are 'intended additions' used to reduce environmental impacts on the polymer (such as heat and UV radiation). They are incorporated into plastics to provide defense against mechanical, UV, and thermal degradation during production and usage. They increase the speed and quality of plastic product production, increase the useful life of plastic products, and make recycling plastic products easier.

Get a glance at the market contribution of various segments Request a PDF Sample

The stabilizers segment was valued at USD 152.90 million in 2018. The main use of TNPP is as a stabilizer and antioxidant in the processing of various plastic materials and rubber. Along with epoxidized oils, it serves as a polymer stabilizer in rubbers of the nitrile, SBR, and EPDM types. It is to be used as a stabilizer for SBR, NBR, polybutadiene rubber (PBR), Styrene Butadiene Rubber Latex, radiation vulcanized natural rubber latex (RVNRL), and others. TNPP is often used in a water emulsion for stabilizing polymers. Thus, the increasing use of TNPP as a stabilizer in the plastic and rubber industry will augment the growth of the global market during the forecast period.

By Region

For more insights on the market share of various regions Request PDF Sample now!

North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

North America is expected to be the largest geographical segment of the global market during the forecast period owing to the rising demand for TNPP in end-user industries such as petrochemicals. Modern technologies and innovations in products, applications, and design solutions are making a huge impact on the growth of the market. The growth in the petrochemical industry has prompted the demand for TNPP. Advanced economies, such as the US, currently use up to 20 times as much plastic and up to 10 times as much fertilizer as developing economies, such as India and Indonesia, on a per capita basis. 

The shale gas revolution has helped the US regain its position as a low-cost zone for chemical production after two decades of stagnation and decline. Approximately 40% of the world's ethane-based petrochemical manufacturing capacity is currently located in the US. Thus, the growing petrochemical industry in the region will augment the demand for TNPP, which in turn will boost the growth of the regional market during the forecast period.

Segment Overview

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Application Outlook 
  • Stabilizers
  • Petrochemicals
  • Rubber

• End-user Outlook 
  • Plastics and rubber industry
  • Chemical industry
  • Adhesives and sealants industry
  • Others

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • APAC
    • China
    • India
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

You may also interested in the below market reports

• Europe Styrene Butadiene (SB) Latex Market Analysis Europe - Germany, France, Italy, Spain, Rest of Europe - Size and Forecast 

• Lubricant Anti Wear Agents Market Analysis APAC, Europe, North America, Middle East and Africa, South America - US, Japan, China, Russia, India - Size and Forecast 

• Styrene-Butadiene-Styrene (SBS) Block Copolymer Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, Japan, India, France - Size and Forecast

Market Analyst Overview

The market plays a vital role in various industries, including the petrochemicals industry and food packaging industry. As a key component of phosphite-based antioxidants, it ensures heat stability and compatibility with resins, enhancing product quality in the plastic manufacturing industry. Its resistance to extraction further contributes to its widespread use, particularly in coatings, pharmaceuticals, and flavors and fragrances.

However, concerns regarding its impact on aquatic species, particularly due to the presence of nonylphenol and its potential for endocrine disruption through estrogen and androgen receptors, necessitate careful consideration. With Valtris Specialty Chemicals and SK Capital Partners leading the market, advancements in chemical recycling technologies and pharmaceuticals highlight its increasing industrial value. As health awareness grows, especially in the food industry, the demand for safer alternatives in packaged food rises, prompting a shift towards natural gas production and chemical compound in regions like Western Europe, Eastern Europe, and the Asia-Pacific.

Request PDF sample

What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2024 and 2028
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

We can help! Our analysts can customize this report to meet your requirements. Get in touch