According to a new market report published by Credence Research “Plasticizers Market Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the plasticizers market is expected to reach over US$ 26.3 Bn by 2025, expanding at a CAGR of 5.4% from 2017 to 2025.
For the purpose of this study, the global plasticizers market is categorized into two product types viz., phthalates and non- phthalates. The market for plasticizers is segmented on the basis of sub-types such as Phthalates (Dioctyl Phthalate (Dop)/ Diethylhexyl Phthalate (Dehp), Diisononyl Phthalate (Dinp), Diisodecyl Phthalate (Didp), Di(2-Propylheptyl) Phthalate (Dphp), Butyl Benzyl Phthalate (Bbp), Others) and Non-Phthalates (Adipates, Esters, Trimellitates, Epoxy, Bio-Based Plasticizers, Dioctyl Terephthalate (Dotp), Others).
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In 2016, the Phthalates segment dominated the global plasticizers market and will continue to dominate the market in upcoming years. The demand for phthalates is led by Dioctyl Phthalate (DOP), which accounted for a share of more than 40% of the overall market in 2016.
On the basis of application, the plasticizers market is segmented into Flooring & Wall, Film & Sheet Coverings, Wires & Cables, Coated Fabrics, Consumer Goods and Others (Medical, Sports, & Adhesive & Sealants Applications). Among these, wires and cables segment accounted for the largest segment by value in 2016 owing to high usage of plasticizers in electrical and cable industry for products such as insulation and jacketing for electrical conductors, insulation for fiber optic cables.
For the purpose of this study, the global plasticizers market is categorized into regional markets viz., North America, Europe, Asia Pacific and Latin America and Middle East and Africa. In base year 2016, Asia Pacific was observed as the largest market for plasticizers followed by North America and Europe. Asia Pacific is expected to achieve highest growth rate compared to other regions due to presence of countries such as China, India and Japan are observing significant industrial and construction growth.
Furthermore, the companies are focusing on expanding their business network, across regional markets. They are strengthening their market penetration by offering wide product range in the plasticizers segment. Aekyung Petrochemical Co. Ltd., Arkema S.A., BASF SE, Daelim Industrial Co. Ltd., Dow Chemical Company, Eastman Chemical Company, Evonik Industries AG, ExxonMobil Corporation, Ineos Group, LG Chem Ltd., Nan Ya Plastics Corporation, UPC Group, etc. are few key manufacturers in global Plasticizers market.
- Growing Demand In Asia-Pacific Region
- Increasing PVC Demand is Driving the Market for Plasticizers
- Development of High and Non-Phthalates
- Emergence of Bio-Based Plasticizers
- Heightened fear of contamination experienced during recent viral epidemics driving demand for Plasticizers gels
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