P-Dioxane Market size is forecast to reach $500 million by 2025, after growing at a CAGR of 5% during 2020-2025. p-Dioxane is a colorless liquid with faint ethereal odor also known as 1,4-dioxane and 1,4-diethylene dioxide. It resembles a smaller crown ether with only two ethyleneoxyl units. The dioxane in the chair conformation would be symmetrical, and thus non-polar, the molecule with also occupy the boat conformation and be very polar. p- Dioxane is used as a solvent for cellulose acetate, resins, oils, and waxes. Surging demand of p-dioxane in agrochemical industries for manufacturing herbicides and insecticides is driving the growth of this market. Whereas, increasing use of p-Dioxanes in the formulation of inks, coating, and adhesives is also likely to boost the growth of p-dioxane market size during the forecast period. P-Dioxanes are also used as surfactants in hydraulic fracturing fluids. However, degradability and carcinogenic effects of p-dioxane on human health acts as a restraint for the growth of market.
Application – Segment Analysis
Medicine segment holds the largest share of more than 25% in the p- Dioxane market in 2019 owing to its uses in the manufacture of medicines/pharmaceuticals. p- Dioxane is also used in pharmaceutical sciences as a versatile model for studying drug solubility and during the design of homogeneous pharmaceutical dosage forms such as syrups and elixirs. Furthermore, the growing research activities and heavy investments by the government in healthcare sector is also boosting the growth of p- Dioxane market. For instance, According, to the National Health Expenditure Accounts (NHEA), the U.S. healthcare spending grew by 4.6 percent accounting for $3.6 trillion in 2018.
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End-Use – Segment Analysis
Agrochemical segment is projected to witness the highest CAGR of 6.5% in the p-dioxane market during the forecast period due to growing uses of p-Dioxane for the production of herbicides and pesticides. As. P-Dioxanes are used as a reaction intermediate in production of pesticides. Whereas, the growing concern over crop protection raises the demand of pesticides for better crop productivity further propels the growth of p-dioxane market. According to Trade Map, import of pesticides in China increased by 14% accounting for 89,771 tons in 2019, subsequently fueling the growth of p-dioxane market.
COVID-19 proved to be a challenging factor for the p-dioxane. The outbreak of coronavirus has postponed deliveries of p-dioxane and other equipment from yards, due to shortages of staff or supplies, as well as travel bans. Industries are shuttered all around the world. P-Dioxanes are extensively used across various industry vertical applications. For instance, in automotive industry it is used for manufacturing of grease and automotive coolant liquids. Whereas, the decrease in purchasing capital of people during this pandemic time has impacted the automotive industry which in turn lowered the demand of p-dioxane and hampered the growth market. According to the China Passenger Car Association (CPCA), the first two-month of year 2020 sales declined by 40 percent or more compared to the same period in 2019. However, pharmaceuticals industry is booming in this pandemic situation which boosts the growth of p-dioxane market.
Geography – Segment Analysis
Asia Pacific is projected to witness the highest CAGR of 7% in the p-dioxane market during the forecast period owing to the rapid industrial expansion and growing population along with changing lifestyle escalated the growth of p-dioxane market in APAC region. Furthermore, the growing textile industry in the developing country like China and India is also contributing to the market growth. As, p-Dioxanes is used as a wetting and dispersing agent in textile processing. According to Indian Brand Equity Foundation (IBEF), Indian textiles industry was estimated at around US$ 108 billion in 2017 and expected to reach US$ 223 billion by 2021, subsequently raising the demand of p-dioxane for textile processing. P-dioxane is also used for extracting vegetable oil. Increasing food demand across the world is escalating the use of p-Dioxanes for oil processing. According to Food and Agriculture Organization (FAO), Indonesia and Malaysia dominated the vegetable oil exports in 2018 and expected to continue its dominion. Nearly 70% of Indonesian and more than 80% of Malaysian vegetable oil is exported. Also, in 2018 FAO estimated that Indonesian oil exports will grow at 1.6% p.a., subsequently boosting the p-dioxane market.
Drivers – p-Dioxane Market
Increasing demand from transportation and construction industries
p- Dioxanes are widely used as a solvent in formulation of paint, dyes, adhesives, and sealants. Surging use of adhesives and sealants for blocking the passage of water and air in buildings are augmenting the demand of p-Dioxanes. In automotive industry sealants and adhesives are not only used in strengthening mechanical joints but also used for tightening or sealing gaskets and fasteners. According to the Institution of Civil Engineers (ICE), global construction output will grow by 85% to $15.5 trillion by 2030, with China, the US, and India accounting for almost 57% of all global growth. Increase in construction activities and demand for electric vehicles is escalating the use of paint, adhesives, and sealants which in turn boosts the growth of p-dioxane market. Also, International Energy Agency has recorded the growth of 63% in global stock of electric passenger cars, passing 5 million in 2018 which further fuels the p-dioxane market.
Growing fashion industry and changing lifestyle
Increasing disposable income and adoption of western culture in emerging economic nations has boosted the growth of fashion industry. P-dioxane has a faint pleasant odor like ether and are used in deodorants. Thus, surging demand for antiperspirants and colorful apparels is augmenting the growth of p-Dioxanes. According to Trade Map, global spending on import of apparels and clothing accessories increased by 9% accounting for $ 4,741,531 in 2018. Huge spending of youth on apparels fashion products is augmenting the market. According to the China Luxury Report, Chinese consumers at home and abroad spent 115 billion on luxury fashion items in 2018 which equivalents to a third of the global spend.
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Challenges –p-Dioxane Market
Degradability and harmful effects of p-dioxane
p- Dioxanes are relatively resistant to biodegradation in water and soil. They are toxic and have harmful effects including dizziness, eye, nose, and throat irritation. High exposure may also cause fatal liver and kidney damage and brain lesions. The International Agency for Research on Cancer has determined that 1,4-dioxane is possibly carcinogenic to humans. Moreover, governmental regulation on the use of p-dioxane also restricts the growth of market. For instance, in December 2019, New York state has passed a senate bill S4389B, for prohibiting the household cleansing products, cosmetic products and personal care products that contain 1,4-dioxane. This act shall take effect from January 1, 2022.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the p-dioxane market. In 2019, the market of p- Dioxane has been consolidated by the top five players accounting for xx% of the share. Major players in the p- Dioxane market are, TCI Chemicals Pvt. Ltd., Apollo Scientific Ltd, AccuStandard, Changzhou Highassay Chemical Co., Ltd, Sigma-Aldrich, Inc, Glentham Life Sciences Ltd., King Scientific LLC, WATSON INTERNATIONAL LTD, BASF SE, and Alfa Aesar among others.
Acquisitions/Technology Launches
In May 2020, BASF SE launched 1, 4- Dioxane calculator that enables personal care formulators to determine the 1, 4-Dioxane content in their formulas. It can be accessed from both desktop and mobile devices and recommends alternative BASF ingredients to bring the total 1, 4-Dioxane to less than 1ppm.
In January 2020, BASF SE has expanded its low 1, 4- Dioxane line by adding new ingredients to existing range of surfactants and polymers in North America that will help in meeting new regulation.
Key Takeaways
U.S has shown significant growth during the forecast period in p-dioxane market due to established pharmaceuticals sector across the country.
Government regulations and carcinogenic effect of p-dioxane acts as a restraint for the growth of market. For instance, the National Institute for Occupational Safety and Health (NIOSH) considers 1, 4-dioxane as a potential occupational carcinogen.
Increasing use of pesticides in developing nations like India and China is driving the growth of p-dioxane market.
The outbreak of coronavirus has disrupted the global supply chain and economy which in turn hamper the growth of p-dioxane market during the forecast period.
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