Global Plasticizer Market to Register CAGR of 4.4% from 2014 to 2020
Deerfield Beach, FL -- (SBWIRE) -- 09/18/2017 -- 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." 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.
Plasticizers are polymer additives used to reduce interaction between a segment of the polymer chain and elastic modulus. Plasticizers provide viscosity, flexibility, softness, or other properties to the finished product. Plasticizers find applications in flooring and wall coverings, roofing membranes, electrical cable and wire insulation, automotive applications, medical devices, synthetic leather goods and rubber products, paints, printing inks, adhesives, and sealants. Plasticizers are essential to soften them.
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PVC contributes to the quality, cost-effectiveness, and safety of construction material and is the most widely used polymer used in the building & construction applications. The construction industry is a highly growing segment with remarkable growth trends across the globe. Additionally, PVC is extensively used in the automobile industry. Thus, the growing demand for PVC is expected to drive the demand for plasticizer across the globe over the years. Moreover, increasing demand for environment-friendly high phthalates and no phthalates are expected to fuel the demand for plasticizers within the forecast period. However, adverse effects of DOP plasticizers on human health may hamper the market growth in the near future. The stringent regulations and norms along with a tight supply of harmful phthalates, such as DOP, DBP, BBP, and DEP have led to the development of eco-friendly plasticizer as a replacement to the traditional phthalates and in turn, is expected to open growth avenues for the market within the forecast period.
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Low phthalates were 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. Non-phthalates is an important segment of plasticizers market on account of increasing demand for bio-based plasticizers.
In 2014, floor walls & coverings were 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. In terms of revenue, Asia Pacific followed by Europe and North America. The growth is mainly attributed to the high growth potential of the growing PVC industry, especially in China and India. 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. There is intense competition among the multinational companies present in the market. The list includes big brands such as Eastman Chemical, BASF SE, ExxonMobil Corporation, etc. These companies dominate the market. The market also includes various regional vendors which lead to price wars. Research & development coupled with product expansion are major strategies of the market.
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