Feb 23, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Non-Phthalate Plasticizers Market.
It was estimated prior to this unanticipated outbreak that the Non-Phthalate Plasticizers Market is likely to witness an impressive CAGR of 4.6% during the forecast period. The prime factor that is contributing to the demand for non-phthalate plasticizers is mainly the increasing usage of composite fabrics in various industrial applications, such as automotive and wires & cables.
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Non-phthalate Plasticizers are essentially plasticizers that are free of phthalates. Plasticizers can be defined as chemicals that are added to polymers to soften the hardness and brittleness of plastic.
Non-phthalate Plasticizers are of different types, such as adipates, trimellitates, benzoates, epoxies, and others, that are used in various end-use industries, such as flooring & wall coverings, wires & cables, films & sheets, coated fabrics, consumer goods, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Segment Analysis
Based on the type, the market is segmented as adipates, trimellitates, benzoates, epoxies, and others. The adipates segment held the largest share of the market in 2020, and is expected to remain dominant during the forecast period, whereas trimellitates is the fastest-growing non-phthalate plasticizers type owing to its high-temperature performance properties. Owing to adipates light-color, oily liquid it is used to plasticize PVC which is driving the growth of this segment.
Based on the application type, the non-phthalate plasticizers market is segmented as flooring & wall coverings, wires & cables, films & sheets, coated fabrics, consumer goods, and others. The flooring & wall coverings industry segment dominates the market. Further, readily soluble in polyvinyl chloride, lower density when compared to other plasticizers are the other properties propelling the growth of non-phthalate plasticizers during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for non-phthalate plasticizers during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as flooring & wall coverings, wires & cables, films & sheets, coated fabrics, consumer goods, and others, which is generating huge demand for non-phthalate plasticizers and the presence of a large number of non-phthalate plasticizer manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
Key players operating in the global Non-Phthalate Plasticizers market are-
- BASF SE
- DIC Corporation
- Eastman Chemical Company
- Exxonmobil Corporation
- Evonik Industries
- KLJ Group
- Lanxess AG
- LG Chem Ltd.
- Mitsubishi Chemical Corporation
- UPC Technology Corporation.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Non-Phthalate Plasticizers analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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