Dimethoxyethyl Phthalate Market - Forecast(2023 - 2028)

Dimethoxyethyl Phthalate Market Overview

The Dimethoxyethyl Phthalate market size is estimated to grow at a CAGR of 3.1% during 2022-2027. Dimethoxyethyl phthalate is a colorless liquid that belongs to the group of phthalate esters. This liquid substance is soluble in water, ethanol and other organic solvents. Dimethoxyethyl phthalate is used in paints, wire coatings, laminating cements, and several other applications. Dimethoxyethyl phthalate finds its extensive usage in the electrical and electronics sector where it is used for the coating and production of enameled wires which are later utilized in the manufacturing of speakers, smartphones, motors, laptops, hard disk head actuators, and multiple other electrical products. The demand for electronic products is increasing globally and this is expected to propel the market’s growth during the forecast period. For instance, as per the July 2021 stats by China.org.cn, consumer electronics export in South Korea had a growth trajectory for 12 months in a row. Furthermore, dimethoxyethyl phthalate is used as a plasticiser in the production of acetyl cellulose, nitrocellulose, and polyvinyl acetate which are later utilized in packaging of food and beverage. The food and beverage sector is expanding globally with increasing investment and production of food items and this is expected to increase the requirement for packaging, in turn augmenting the market’s growth during the forecast period. For instance, as per the data by InvestIndia, FDI received by India in the food processing sector stood at US$ 393.41 million in 2020-21. The strict regulations regarding the adverse impact of dimethoxyethyl phthalate might hinder the market’s growth.

COVID-19 Impact 

The global dimethoxyethyl phthalate market was influenced due to COVID-19 as various end use sectors displayed significant growth amid the pandemic. The demand for dimethoxyethyl phthalate increased with the increased consumption of food items and rise in sales of electronic items amid the pandemic. The demand for food items such as ready-to-eat meals and snacks surged globally as people were looking to cope with the social turmoil unleashed by the COVID-19. Going forward the market is projected to witness robust growth due to massive expansion of food and electronics sector. 

Report Coverage 

The report: “Dimethoxyethyl Phthalate Market Report - Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the dimethoxyethyl phthalate industry.

By Purity: Below 99%, 99%, Above 99%
By Packaging: Drum, Glass Ampule, Others 
By Application: Molding Compositions, Paints and Adhesives, Laminating Cements, Flash Bulb Lacquers, Pesticides, Enameled Wire, Films, Others 
By End Use Industry: Construction, Residential, Commercial, Office, Hotels and Restaurants, Educational Institutes, Others, Food and Beverage, Agriculture, Electrical and Electronics, Automotive, Passenger Vehicle, Commercial Vehicle, Light Commercial Vehicles, Heavy Commercial Vehicles, Others 
By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa). 

Key Takeaways: 

• The electrical and electronic sector expected to drive the market’s growth. For instance, as per the data by Ericsson, smartphone subscriptions are on the rise, expected to reach US$7.7 billion in 2027. 
• The food and beverage sector influencing the market’s growth. As per the Fresh Trends 2021 report by The Packer, vegetable consumption witnessed an upward trend during the pandemic with 73% of consumers stated they purchased fresh vegetables. 
• The Asia-Pacific region is expected to witness the highest demand for dimethoxyethyl phthalate owing to the increasing demand for electronic products in the region. For instance, according to the Global Electric Market Outlook 2022 report by the German Electro and Digital Industry Association, China exhibited decent growth in the electrical and electronics sector despite the pandemic. 

Figure: Asia Pacific Dimethoxyethyl Phthalate Market Revenue, 2021-2027 (US$ Million)

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Dimethoxyethyl Phthalate Market Segment Analysis - By Packaging 

Drum packaging dominated the dimethoxyethyl phthalate market in 2021 and is expected to grow at a CAGR of 3.6% during the forecast period. This type of packaging offers long lasting storage and economical transportation of dimethoxyethyl phthalate. Moreover, drum packaging provides protection against moisture and light. Owing to such robust benefits, market players and research organizations are focused on the use of drum for packing dimethoxyethyl phthalate. For instance, as per the September 2021 data by ChemicalBook, packaging of dimethoxyethyl phthalate was done with the use of drum. Such high use of drum packaging is expected to increase its demand in the market in the coming years. 

Dimethoxyethyl Phthalate Market Segment Analysis - By End Use Industry 

The electrical and electronics industry dominated the dimethoxyethyl phthalate market in 2021 and is anticipated to grow at a CAGR of 4.2% during the forecast period. Dimethoxyethyl phthalate is used in several applications in multiple end use sectors. The liquid substance is found in pesticides, laminating cements, production of acetyl cellulose, nitrocellulose, and several other applications. However, dimethoxyethyl phthalate finds its extensive usage in the preparation of enameled wires which are later used in the manufacturing of numerous electronic products and components. The demand for electronic products is increasing globally owing to rising consumer preference for technologically advanced electronic products and this is expected to contribute to the market’s growth during the forecast period. For instance, as per the report by India Brand Equity Foundation, 5G smartphones shipment of crossed 4 million units in 2020 owing to higher consumer demand post-lockdown. Similarly, as per the September 2020 report by the American Customer Satisfaction Index, demand for laptop surged among US consumers compared to mobile devices in 2020. Such massive growth in the electrical and electronic sector is expected to drive the market’s growth during the forecast period. 

Dimethoxyethyl Phthalate Market Segment Analysis - By Geography 

The Asia-Pacific region held the largest market share in the dimethoxyethyl phthalate market in 2021, up to 32%. The high demand for dimethoxyethyl phthalate is attributed to the expanding electrical and electronic sector in the region. Dimethoxyethyl phthalate is used massively in the production of enameled wires or magnetic wires which are later incorporated into several electronic products such as smartphones, hard disk head actuators, and speakers. The electrical and electronic sector in the region is showing tremendous growth with increasing production and consumption of electronic products and this is expected to stimulate the growth of dimethoxyethyl phthalate during the forecast period. For instance, as per the report by India Brand Equity Foundation, appliance and consumer electronics segment is projected to grow twice the current market size, touching a market value of US$21.18 billion by 2025. Similarly, according to the May 2021 report by China.org.cn, Huawei became the second-largest manufacturer of notebook in China with a market share of 16.9% in 2020. Such a massive boost in the region’s electrical and electronic sector is expected to catapult the demand for dimethoxyethyl phthalate during the forecast period.

Dimethoxyethyl Phthalate Market Drivers 

Booming food and beverage sector driving the market’s growth 

The food and beverage sector is one of the important markets for dimethoxyethyl phthalate. This liquid material is used as a plasticiser in the production of acetyl cellulose, nitrocellulose, and polyvinyl acetate which are later utilized in packaging films for packing various food items. The food and beverage sector worldwide is achieving outstanding growth with increasing food production and consumption and this in turn will increase the requirement for packaging, thereby driving the market’s growth during the forecast period. For instance, according to the stats by the US Economic Research Service (ERS), expenditure in the food at home segment grew in 2020, reaching US$ 1800 billion dollars. Similarly, as per the stats by Indian Council for Research on International Economic Relations (ICRIER), alcoholic beverages market in India is expected to grow at a CAGR of 6.8% between 2020 and 2023. Such a huge growth in the food and beverage sector globally is expected to augment the higher requirement of dimethoxyethyl phthalate, thereby driving the market’s growth. 

Increasing demand for electronic products is influencing the market’s growth 

Dimethoxyethyl phthalate is extensively used in the electrical and electronic sector for the manufacturing of several electronic components and products. Dimethoxyethyl phthalate are utilized in the production of enameled wires which are later implemented in smartphones, motors, laptops, hard disks, and various other electronic products. The demand for electronic products is rising globally with the increasing production and consumption of electronic items and this is expected to influence the market’s growth during the forecast period. For instance, according to the Global Electric Market Outlook 2022 report by the German Electro and Digital Industry Association, South Korea’s electronic market touched a volume of US$ 218.01 billion in 2020, picking up by 4%. Similarly, according to the October 2020 stats by Consumer Technology Association, smartphone sales will rise in 2022 where 76% of all smartphones will have 5G capabilities. This increasing demand for electronic products globally is expected to stimulate the requirement for dimethoxyethyl phthalate, ultimately influencing the market’s growth during the forecast period. 

Dimethoxyethyl Phthalate Market Challenges 

Stringent regulations regarding the adverse effect of dimethoxyethyl phthalate on human health 

Dimethoxyethyl phthalate is associated with adverse impact on human health, making it a long-standing challenge in the market and this might hamper the market’s growth during the forecast period. Various organizations such as Occupational Safety and Health Administration (OSHA) and Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) strictly monitor the use of dimethoxyethyl phthalate as too much exposure to this liquid substance can lead to severe human health issues. As per the March 2019 report by Agilent Technologies, Inc., dimethoxyethyl phthalate can harm unborn child and damage fertility. Such adverse effect of dimethoxyethyl phthalate on human health and strict regulations might hamper the market’s growth during the forecast period. 

Dimethoxyethyl Phthalate Market Industry Outlook 

Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in the  dimethoxyethyl phthalate market. dimethoxyethyl phthalate top 10 companies include: 

1. Hangzhou Qianyang Technology Co., Ltd.
2. Shandong Shimizu Chemical Co., Ltd.
3. Alfa Aesar
4. TCI Chemicals
5. Henan Tianfu Chemical Co., Ltd
6. Zhuo Zhou Wen Xi Import and Export Co., Ltd.
7. Dayang chem (Hangzhou) Co., Ltd.
8. Amadis Chemical Company
9. Toroto Research Chemicals
10. LANXESS

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