Global Plasticizer Market is Set for Rapid Growth, to Reach Around USD 19.82 Billion by 2020
Deerfield Beach, FL -- (SBWIRE) -- 05/01/2017 -- According to the report, the global plasticizers market accounted for USD 15.35 Billion in 2014 and is expected to reach USD 19.82 Billion by 2020, growing at a CAGR of around 4.4% between 2015 and 2020.
Zion Market Research has published a new report titled "Plasticizers (Low Phthalate, High Phthalate and Non Phthalate) Market for Floor Wall & Coverings, Wires & Cables, Consumer Goods, Film & Sheets and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020."
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Plasticizers are additives used in applications are for plastics that increase the plasticity or fluidity of a material. They are most commonly phthalate esters in PVC applications. Plasticizers provide viscosity, flexibility, softness, or other properties to the finished product. At the same time they offer protection against the effects of weathering and temperature, thereby helping to maintain the product's functionality.
Rapidly growing demand for PVC coupled with the growing demand for high and non phthalates are expected to be the major drivers of the plasticizers market. However, the declining market for DOP may hamper the market growth in the near future. Nonetheless, ongoing research on biobased pesticides may open growth opportunities for the market within the forecast period. In Europe, the safe use of plasticizers is enabled by Registration, Evaluation, Authorization and Restriction of Chemicals (REACH). However, government regulations and rising health concerns of the consumers expected to boost the demand of bio-plasticizers.
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Low phthalates, high phthalates and non-phthalates are the key products of the plasticizers market. Low phthalates was the leading segment and accounted for 44.2% share of the total volume consumption in 2014. In terms of volume, high phthalates was another key outlet of plasticizers market in 2014. Non-phthalates is an important segment of plasticizers market on account of increasing demand for bio-based plasticizers.
Plasticizers finds in different applications such as floor walls & coverings, wires & cables, consumer goods, film & sheets and others. In 2014, floor walls & coverings was the dominating application segment of plasticizers market. It accounted over 25.1% share of the total volume consumption. This growth is attributed to huge utilization of plasticizers in floor walls & coverings owing to its excellent properties such as fast fusers, viscosity reducers, and low-VOC.
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The Asia-Pacific was the largest consumer of plasticizers, which constitutes 61.2% share of the total volume consumption in 2014. Europe was another leading region for plasticizer market and expected to show moderate growth in the years to come.
Key players in the market include BASF, Eastman Chemical Corporation, ExxonMobil Corporation, Evonik Industries Ag, Dow Chemical Corporation, Nan Ya Plastics Corporation, Shandong Hongxin Chemicals Co. LTD., UPC, Aekyung Petrochemical Co. Ltd and Teknor Apex.
Browse detail report at: http://www.marketresearchstore.com/report/plasticizers-market-z59107