The global dipentaerythritol market is expected to gain sizable opportunities across developed as well as developing economies on the backdrop of increasing government and manufacturer’s investment in the end use applications, increasing overall production capacities of the key manufacturing companies, expansion in the production footprint. Moreover, the continuous evolution in the dipentaerythritol market has influenced its overall sales owing to the outpacing demand for high purity grade types of dipentaerythritol in several end use applications. Industrial grade type has high demand rate as compared to the technical grade type and is projected to gain steady growth opportunities for dipentaerythritol market.
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Growth in the paints & coating and plasticizer sector in emerging countries have created a positive impact on the demand for dipentaerythritol, increasing consumption trend of dipentaerythritol in end use applications with high protective and efficient separation activities has been observed in recent years. Rising demand from plasticizer and lubricants sector in both emerging and developed countries are forging opportunities for the dipentaerythritol.
A recent Fact.MR research analysis foretells the dipentaerythritol market to register a growth of 3.1% over the estimated period (2019 – 2027) in terms of value sales. Technical grade type segment to witness a high growth rate among the purity grade types. However, industrial grade type segment is expected to dominate the market share throughout forecast years.
Rising Demand for Dipentaerythritol in Numerous Applications across the Globe
The evolution of the dipentaerythritol market is significantly driven by rising demand in paints & lubricants, plasticizer and lubricants applications across the globe and expansion in the global footprint of key manufacturers in the emerging economies. Several industries are seeking high-quality dipentaerythritol which includes high viscosity and excellent oxidation and heat stability quality. The crucial role of dipentaerythritol as a raw material in several end use applications has amplified the R&D investments in developing advanced solutions for dipentaerythritol. With significant growth in the paints and coatings industry in developed as well as developing countries, manufacturers are focusing on producing advanced formulations with innovative and sustainable solutions.
The concept of dipentaerythritol as a raw material in various end use applications has brought significant changes in the overall scenario of chemical & materials sector globally. This substantial changes in the chemical & materials sector are ideally strengthened by the expansion in the production capacities of key manufacturing companies to cater the demand for dipentaerythritol among end use applications mainly in bio- paints & lubricants, plasticizer, and lubricants among others.
Dipentaerythritol Market – Increasing Use in Synthesis of Oil-Modified Polyester Resins for Industrial Coatings
Demand for dipentaerythritol in synthesis process is proliferating across the globe owing to increasing number of end use industries, growing number of new entrants in the market. Key manufacturers engaged in the manufacturing of dipentaerythritol are adopting the advanced technologies for the production of the dipentaerythritol cater to the intense competition from Chinese players for attracting high number of end use industries. With the addition of advanced technologies for manufacturing dipentaerythritol that have high quality, economical cost, and greater purity grade level is used in the paints & coatings and other end use applications globally. With government regulations are getting stricter in key potential countries, companies are developing such chemical products which are easily approved by government bodies.
The market driving factor includes the rising demand for dipentaerythritol in several end use applications and continuous collaboration among potential manufacturers and suppliers. Also, dipentaerythriol’s use in various applications such as paints & coatings, lubricants, inks, plasticizers, and other applications which are anticipated to create a lucrative opportunity for the dipentaerythritol market in the near future. The global market for dipentaerythritol is also expected to witness a rise in the sales of the products owing to increasing production capacities of the companies in the prominent countries.
Dipentaerythritol Market – Emerging Countries likely to Register Strong Growth in the Global Market
The global market for dipentaerythritol market is estimated to record strong growth in emerging economies mainly in APEJ as compared to legacy regions due to increasing penetration of new entrants and strong presence of Chinese players in the dipentaerythritol market. Owing to the rise in infrastructure and automotive sector, the demand for paints and coatings is likely to grow in the APEJ region, thereby, resulting in the increasing use of dipentaerythritol as a raw material in the resins used in paints and coatings. Overall the dipentaerythritol market is likely to witness significant growth, with manufacturers focusing on unique product offering as per the demand in the end-use industries. The global market for dipentaerythritol in the APEJ region is expected to grow 1.4x times by 2027 as compared to 2019 due to rising demand for dipentaerythritol in numerous end-use applications and an increasing number of new projects in APEJ region.