India Phthalates and Non Phthalates Market – Industry Trends and Forecast to 2030

India Phthalates and Non Phthalates Market Analysis and Insights

The India phthalates and non phthalates market is expected to gain significant growth from 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.2% from 2023 to 2030 and is expected to reach INR 132,586.98 million by 2030. The major factor driving the growth of the India phthalates and non phthalates market is the rising demand for phthalate and non-phthalate from business-to-business.

Non-phthalates are essentially plasticizers that are free of phthalates. The non-phthalate plasticizers are used for softening PVC products and for increasing the strength of products. Non-phthalate plasticizers are manufactured from petroleum or bio-based products. Phthalate plasticizers are an integral part of the plastic industry; between 90 and 95% of all phthalates are used as plasticizers for producing flexible PVC.

The India phthalates and non phthalates market report provides details of market share, new developments, and the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. Contact us for an analyst brief to understand the analysis and the market scenario. Our team will help you create a revenue-impact solution to achieve your desired goal.

Market Definition

Non-phthalate plasticizers are those plasticizers that are free from phthalates. The non-phthalate plasticizers are used to soften PVC products and increase their strength. Non-phthalate plasticizers are manufactured from petroleum or bio-based products, which have less effect on the human body. A few non-phthalates include DOTP (diethyl hexyl terephthalate, aka DEHT), Hexamoll DINCH (diisononyl cyclohexane dicarboxylate), as well as bio-based plasticizers, which are based on soya oil, vegetable oil. Phthalate plasticizers are an integral part of the plastic industry, especially PVC plastics, as most plastic products require flexible low viscosity material at the manufacturing time. The plastic industry is expected to grow steadily in the next few years due to increased demand for plastics in automobiles, building & construction, and consumer products.

India Phthalates and Non Phthalates Market Dynamics

This section deals with understanding the market drivers, opportunities, challenges, and restraints. All of this is discussed in detail below:

Drivers

• Growth in the medical and healthcare sector

The medical and healthcare sector has been one of the flourishing industries in India in terms of employment and revenue. The sector has flourished mainly through increasing disposable income, an aging population, increasing lifestyle diseases, using digital technologies like telemedicine, and increased foreign direct investment over the last two decades. The recent COVID-19 pandemic has paved a path to grow this sector through increased Indian start-ups organization, low-cost medical devices, and the manufacturing of generic medicines. The increasing numbers of medical insurance users and rising numbers of public health sectors in rural areas boost the healthcare and medical-based industries.

• Rising demand for phthalate and non-phthalate from business-to-business industries

In recent times there has been growth in business-to-business industries, especially markets related to plastics. The plastic industry is one of the fastest-growing industries across India. Plastics have become an important part of every aspect of modern life. Plastics find its application ranging from the automotive sector, such as automobile interiors, to the electronic sector, such as wires, cables, plastic enclosures, and many other applications. The automobile industry requires various part which is flexible or moldable in nature. Thus, to make such parts of plastics like PVC, phthalates, and non-phthalates act as plasticizers.

• Use of phthalate and non-phthalate in business-to-consumer industries

The B2C industry is rapidly changing how business is done in India. The B2C industry comprises various industries engaged in producing cosmetics, personal care products, food and beverages, home care products, and others. Such products are mostly bought from consumers through supermarkets, groceries, and e-commerce websites. Increasing disposable incomes, new technology to manufacture products, increasing foreign direct investment, favorable frameworks of government, unique marketing strategies, rapid urbanization, and the boom of e-commerce platforms are the factors that have caused the growth of the B2C industry.

Phthalate has been found in food packaging and plastics such as storage containers and lunch boxes. They are also used as a plasticizer in the manufacturing of water bottles and baby bottles.

Opportunities

• Increase in infrastructure and construction activities

A major driver of the Indian economy is the infrastructure industry. The sector receives great attention from the government to launch policies that would assure the country's construction of world-class infrastructure within a set period. This sector plays a significant role in driving India's overall growth. Power, bridges, dams, highways, and urban infrastructure development are all included in the infrastructure industry. In other words, the infrastructure sector propels the development of related industries, including townships, housing, built-up infrastructure, and construction development projects, acting as a catalyst for India's economic growth.

Phthalate is a chemical substance used to make vinyl (or PVC) flexible, malleable, and durable. Using phthalates makes floors more resilient, low maintenance, and stain resistant.

• Growth in the Indian plastic industry

The plastic industry is one of the fastest-growing industries across India. Plastics and plastic packaging have now permeated every aspect of modern life. Plastics find applications ranging from the healthcare sector, such as diagnostic equipment, plastic syringes, and Petri dishes, to food sector applications, such as packing food-related items. India produces many goods, including plastics, home furnishings, cordage, fishnets, floor coverings, medical supplies, packaging, pipes, plastic films, and raw materials. Such plastics are used up in various industries, such as electronics, construction, packaging, healthcare, and transportation.

Restraints

• Serious environmental and health effects

Phthalate is the most utilized material in plastics and cosmetics, among many other applications. They are well-known plasticizers that create a wide range of products, such as plastic packaging films, toys, floorings, personal care products, and automobile and electrical components. Due to such varied applications, phthalate is released in environments where it can be ingested, inhaled, or absorbed unintentionally. The environmental effects and detrimental health problems caused by phthalate exposure may restrain the growth of the Indian phthalate and non phthalates market.

Food, drinking water, and beverage are the main ways consumers consume phthalates. Phthalates are not chemically attached to plastic objects. They gradually leak out of them and evaporate into the air, water, food, household dust, soil, and living things, especially in hot weather.

• Credible threat of sustainable substitutes

Many compounds have been recognized as substitutes for phthalate plasticizers. The alternatives consist of citrates, sebacates, adipates, and phosphates. They are used in place of phthalates in products like toys, baby products, and medical equipment. These compounds are employed as solvents and fixatives in cosmetics, inks, adhesives, and other consumer goods, in addition to their use as substitutes for PVC plasticizers.

Epoxidized soybean oil (ESBO) is used as a plasticizer, compatibilizer, and phthalate. ESBO has also found its application as a plasticizer in seals for glass jars and as a stabilizer to decrease the UV degradation of polyvinyl chloride. Similarly, trimellitates have also been used as a substitute for diethyl phthalate, which is used in wall coverings, packaging, and flooring. In cosmetic products, acetyl tributyl citrate is used as a plasticizer in cosmetic products and PVC applications. Chemicals like DINCH are used instead of phthalate in commercial products such as toys, medical devices, and food packaging.

Challenge

• Stringent rules and regulations

Although there are various applications of phthalate and non-phthalates in our day-to-day life, however contrary to it, there are various other health problems, such as obesity, diabetes, asthma, and insulin resistance which have been linked to the use and synthesis of phthalates. India has imposed strict regulations over phthalate use and exposure to regulate such chemical use and protect public health.

Recent Developments

• In December 28, 2022, according to Fortune India, By 2026, it is anticipated that India will export INR 30 billion worth of automotive components, with the sector's total value predicted to be INR 200 billion and represent 5-7% of India's GDP.
• In December 24, 2022, according to The Hindu Business Line, India's medical tourism industry is estimated at INR 9 billion, which makes it the 10th largest India medical tourism hub, which is expected to reach INR 13 billion by 2026.

India Phthalates and Non Phthalates Market Scope

The India phthalates and non phthalates market is categorized based on product, application, and end-use. The growth amongst these segments will help you analyze major industry growth segments and provide the users with a valuable market overview and insights to make strategic decisions to identify core market applications.

Product

• Non-Phthalates
• DOP (di, octyl phthalate)
• DBP (di butyl phthalate)
• DMP (di methyl phthalate)
• DEP (di ethyl phthalate)
• DOA (di octyl adipate)
• TEC (tri ethyl citrate)
• Other phthalates

Based on product, the India phthalates and non phthalates market is classified into non-phthalates, DOP (di, octyl phthalate), DBP (di butyl phthalate), DMP (di methyl phthalate), DEP (di ethyl phthalate), DOA (di octyl adipate), TEC (tri ethyl citrate), and other phthalates.

Application

• Wire and cable
• Flooring and wall covering
• Film and sheet
• Coated fabrics
• Consumer goods
• Packaging
• Adhesive and sealants
• Others

Based on application, the India phthalates and non phthalates market is classified into wire and cable, flooring and wall covering, film and sheet, coated fabrics, consumer goods, packaging, adhesive and sealants, and others.

End-Use

• Building and construction
• Electronics
• Automotive
• Consumer Goods
• Medical and Healthcare
• Food & Beverages
• Sports & Leisure
• Others

Based on the end-use, the India phthalates and non phthalates market is classified into building and construction, electronics, automotive, consumer goods, medical and healthcare, food & beverages, sports & leisure, and others.

Competitive Landscape and India Phthalates and Non Phthalates Market Share Analysis

India phthalates and non phthalates market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product approvals, patents, product width and breadth, application dominance, product lifeline curve. The above data points are only related to the company's focus on the India phthalates and non phthalates market.

Some of the prominent participants operating in the India phthalates and non phthalates market are KLJ Group., BASF SE, Mitsubishi Chemical Corporation., Aarti Industries Ltd., DIC Corporation, LG Chem, Evonik Industries AG, Kao Corporation., Eastman Chemical Company or its subsidiaries., NAN YA PLASTICS CORPORATION, Avient Corporation, LANXESS, Exxon Mobil Corporation., DOW, Nayakem, Nishant Organics Pvt. Ltd., Supreme Plasticizers., Payal Group, ABC Chemicals, Henan GO Biotech Co.,Ltd, Perstorp, Velsicol Chemical LLC, Indo-Nippon Chemical Co. Ltd., MarvelVinyls amongst others.

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