Global 1,3-Dioxolane Market: Introduction
1,3-Dioxolane possesses the properties of strong aprotic solvents and is used in a number of formulations and production processes. The global market report on the 1,3-dioxolane market covers its applications which include being used as solvents and as a monomer or co-monomer information 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 increased 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 are turning out to be a major restraint for market growth over the forecast period.
Rapidly growing end-use industries worldwide is providing traction to the 1,3-dioxolane market growth over the forecast period
1,3-dioxolane also finds application as a solvent in the petroleum industry for the removal of tar and asphaltines. The oil & gas industry has witnessed a severe turnaround in the past few years with crude oil prices fluctuating between $25-$70 per barrel. These fluctuations have had quite some impact on the 1.3-dioxolane market. Moreover, the surging textile industry across the globe is calling for high adoption of 1,3-Dioxolane which is further positively influencing the market growth in the mid, and long-term forecast.
In the textiles application segment, countries with the largest output for textiles including China, India, etc., will control the market growth. As per the Federation of Indian Chambers of Commerce & Industry, the global textile and apparel trade was estimated to be around US$ 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 a wide adoption base for 1,3-dioxolane that would escalate the market growth. Furthermore, governments of countries such as India, China, and the 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 sectors. 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.
1,3-Dioxolane Market: Regional Outlook
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 the majority of the market share under the global 1,3-dioxolane market owing to the high adoption of 1,3-dioxolane within the textile industry.
In addition, the growing metalworking 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 a 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, the Middle East & Africa is expected to register a significant growth rate owing to the rising oil & gas industry along with the increasing demand for 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.
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The 1,3-Dioxolane Market Report Covers Exhaustive Analysis On:
- Market Segment
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The 1,3-Dioxolane Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, RoE)
- East Asia
- South Asia
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.
An Adaptive Approach to Modern-day Research Needs
The 1,3-Dioxolane Market Report Highlights:
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
Segmentation analysis of 1,3-Dioxolane Market
The global 1,3-Dioxolane market covers one major segment, application.
On the basis of application, the global 1,3-Dioxolane market is divided into:
- Metal working & electroplating
- Organometallic & inorganic systems