Specialty plasticizers are a kind of additive which increase the plasticity and/or flexibility of a material they are added to. Their high performance properties make them a popular choice for a number of products. Market Research Future has published its newest report on the global specialty plasticizer market which includes a number of important facts and figures which govern market growth. The global specialty plasticizer market is anticipated to grow at a sluggish, yet consistent CAGR of 3% during the forecast period from 2016 to 2022. At this rate, the market is likely to expand and reach an evaluation of USD 18,594.07 Mn by the end of the review period in 2022.
Specialty plasticizers add flexibility, as well as other high performance attributes such as volatility resistance, low-temperature resistance, and electrical conductivity. Commonly used in the production of PVC films, electrical wiring, flooring, roofing, and wall coverings, specialty plasticizers are expected to witness consistent demand from the construction sector. The construction sector is expanding at a swift pace due to urbanization and the increasing demand for residential and commercial buildings. Moreover, added to concrete, plasticizers can strengthen the material. PVC is the third most widely used plastic polymer and has a vast number of applications in construction activities, pipes, sins, clothing, healthcare, and a number of others. As such, the high demand for PVC is likely to influence increased demand for specialty plasticizers.
Notably, the market is restrained by stringent regulations in developed economies. Some specialty plasticizers have been banned in consumer goods due to their toxic effect on the health.
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MRFR's competitive analysis has profiled a number of important market participants and their various growth strategies. Prominent players included in the report are LG Chem LTD, Evonik Industries AG, Eastman Chemical Company, ExxonMobil Corporation, UPC Group, Nan Ya Plastics Corporation, Shandong Qilu Plasticizers Co. LTD, Struktol Company of America, BASF SE, Aekyung Petrochemical Co. LTD, and others.
Latest Industry News
Eastman Chemical has increased prices of plasticizers due to the increase in operating cost as well and the price of raw materials.
ChemCeed has introduced a new non-phthalate plasticizer to its extensive portfolio. The new product, ELATUR CH is nontoxic and SVOC free.
MRFR's segmental analysis of the global Specialty Plasticizer Market has been done on the basis of type, application, and region. Types of specialty plasticizers have been segmented into phthalates, phosphates epoxides, aliphatic dibasic esters, trimellitates, polymeric and others. Meanwhile, the applications of specialty plasticizers have been segmented into flooring & wall covering, coated fabric, wire & cable, film & sheet, consumer goods, and others,
The global market has been analyzed by regions and is segmented into Europe, North America, Asia Pacific, and the Middle East & Africa.
The Asia Pacific specialty plasticizer market has grown to establish itself in leadership position due to the swiftly growing construction industry in the region. The regions large population is urbanizing, and as a result, there is a pressing demand for various construction activities as well as consumer goods. Taiwan and South Korea are the leading country-level markets present in the region. Moreover, the APAC region is a manufacturing hub due to the presence of relatively cheap labor and low operation costs, thus driving the growth of the market. Europe follows the Asia Pacific, largely due to the presence of many key players that have significant global market shares. However, the ban on some specialty plasticizers will likely impact this market in the coming years. Meanwhile, North America has secured the third largest share of the global specialty plasticizer.
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