Worldwide Plasticizers Market Report – Future Growth Outlook 2022
Plasticizers are organic additives added to plastic polymers to carry out processing and to enhance the flexibility & toughness of a material by internal alteration of the polymer molecule. The latest report added on the worldwide plasticizers market by DecisionDatabases.com provides an elaborate study of the market covering the historical and future trends and market values in terms of revenue.
Plasticizers provide fluidity, viscosity, softness and other features to the finished product. At the same time, plasticizers offer protection against the temperature and weathering effect, by helping to retain the product’s functionality. They find a wide range of applications such as wires & cables, floor walls & coverings, film & sheets, consumer goods and others. As per the report “Global Plasticizers Market Research Report- Industry Analysis, Size, Share, Growth, Trends And Forecast ”
rising demand from emerging economy and rapid development of the high & non-phthalates product are expected to drive market demand over the coming years. Additionally, growing demand for PVC for various end-use applications will further aid in the growth of the market in the near future. In recent scenario, surging utilization of plasticizers in coverings & floor walls due to its advantages such as viscosity reducers, low-VOC and fast fusers, is anticipated to boost market demand during the forecast period. However, the declining market for DOP may hinder the market growth in the near future. On the other hand, ongoing research on bio-based plasticizers may open new growth opportunities for the market in the forthcoming years.
The global market has been segmented based on type into low-phthalates, high-phthalates, and non-phthalates. Low-phthalates are a major type segment and is projected to witness a significant growth in the study period on account of its growing worldwide consumption for various end-use applications. Furthermore, the market has been segmented based on sub type into dioctyl phthalate (Dop), diisononyl phthalate (Dinp)/diisodecyl phthalate (Didp), dioctyl terephthalate (Dotp), bio-based plasticizer and other plasticizers. Dioctyl phthalate (Dop) is a leading sub type segment and is estimated to grow at a substantial rate during the forecast period owing to its growing demand for various applications due to its low cost and appropriate plasticizing properties.
Asia Pacific has accounted for major market share and is expected to grow at the highest CAGR over the coming years due to increasing regional demand, the expanding manufacturing industry, and the emerging PVC industry in the region. In addition, intensified efforts of several regulatory authorities to encourage eco-friendly products have further led to the growth of the market.
The major key players include Aekyung Petrochemical Co. LTD., Basf Se, Eastman Chemical Company, Evonik Industries Ag, ExxonMobil Corporation, Lg Chem LTD., Nan Ya Plastics Corporation, Shandong Hongxin Chemicals Co. LTD., Shandong Qilu Plasticizers Co. LTD., and Upc Technology Corporation.
In July 2011, Oxea has launched the “Oxsoft GPO”, the latest addition to the Oxsoft product range of non-VOC and phthalate-free plasticizers.
In Nov 2013, Eastman Chemical Company has introduced a new plasticizer at the “Compamed trade fair” to meet industry needs for the European market.
In April 2015, PolyOne has launched the Geon BIO PVC plasticizer using soy-based materials.
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