Non-phthalate plasticizers Market – Scope and Opportunities Analysis 2031
Posted by Divakar on April 21st, 2021
Non-Phthalate Plasticizers Market: Overview
Plasticizers are the chemicals which are added to polymers to soften plastic toughness and brittleness. The use of plasticizers leads to flexibility and this increases material durability. Non-phthalate plasticizers are formed from adipic acid esters or benzoic esters. More than 80 per cent of the total consumption of plasticizers is captured by PVC (polyvinyl chloride) plasticization application.
Historically dominated PVC plasticizer is anticipated to face strong competition from the bundle of new Non-phthalate plasticizer arrivals in the market. Adipates and trimetallites to act as strong contenders to the PVC plasticizer in the market. PVC is set out to lose steam under the growing pressure of potential alternatives in the Non-phthalate plasticizers market.
Non-phthalate plasticizers are versatile and provide desirable electrical characteristics at different temperatures. Non-phthalate plasticizers also provide additional weather and heat stability over existing phthalate plasticizers.
Non-phthalate plasticizers are gaining traction in the market owing to the policy leash restricting the phthalate market growth across the globe. Di (2-ethylhexyl) phthalate and DINP (di-isonolyl phthalate) being major phthalate plasticizer has been facing strong downstream market winds creating a pavement for non-phthalate penetration across the applications.
European Union and North America consumer product safety bodies have formulated a regulation over phthalate plasticizers which shall act as wheelhouse to the non-phthalate plasticizers demand. Moreover, reducing consumer awareness regarding consumption of the products with phthalate to also bolster the demand of non-phthalate plasticizers.
Owing to the increasing demand from numerous, end-use industries and myriad chemical advantages offered, non-phthalate plasticizer’s demand is poised to grow at higher CAGR during the forecast period 2021-31.
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Non-Phthalate Plasticizers Market: Dynamics
Owing to the driving factors such as product innovation with improved characteristics and toxicology profiles, the global demand for non-phthalate plasticizers is expected to rise during the forecast period.
In addition to this, regulatory restriction on use of phthalate plasticizers by public bodies open the road for the growth of the non-phthalate plasticizers market.
In emerging economies, the fast-growing construction and electronic industry are likely to provide lucrative opportunities in the predicted timeframe for key players in the non-phthalate plasticizers market. Furthermore, the widespread use of non-phthalate plasticizers in wall coverings and floors contributes considerably to the increased growth of the global non-phthalate plasticizer industry.
However, the forecast period is poised to be limited by such factors as volatility in the prices of the raw materials used in manufacturing non-phthalate plasticizers, lack of uniform enforcing directives for non-phthalate plasticizer applications, lower acceptance and lack of product awareness.
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COVID-19 Impact Insights
The rapid increase of COVID-19 cases led to a pandemic which has badly affected the market trends and categories of cosmetics as well. COVID-19 pandemic has forced countries to impose lockdowns across the globe, to try and flatten the global active cases curve. Besides, measures worldwide regulating people’s movement have created disruptions in almost every end-use industry.
Market players can concentrate on research and development activities and tackle the challenges of gaining a competitive advantage in the supply chain. The production stoppages caused by the pandemic would had put tremendous stress on the operating expenses from the manufacturing standpoint.
Besides, the plant shutdowns in Europe, Asia and North America in the second quarter of 2020, along with reduced consumption of newer products by consumers ultimately lead to lesser production by manufacturers.
Moreover, these lockdowns were not properly implemented in many countries leading to a spike in the overall active cases in the region. It is almost a year since the first strain of COVID-19 was detected and now there is news stating that there is a third wave of COVID-19 with newer cases being reported every day.
On the other side of the COVID implications coin, Tier-2 manufacturers are struggling to manufacture and channel the product in the market owing to the higher marginal loss and partial demand from the market. Considering the aforementioned factors, the market is set to resuscitate completely by Q3 of FY2021.
Increasing demand for PVC plasticizer products for a variety of manufacturing, residential, and commercial applications reflects that North America and Europe are major non-phthalate plasticizers regions. A significant driver of the global non-phthalate plasticizers market is the change in government policies with respect to the restricting use of traditional toxic phthalate plasticizers.
As the construction sector expands, calls for non-phthalate plasticizers in emerging economies such as APAC and South America are growing. The strongest expansion in the global non-phthalate plasticizer industry is expected in the Asia Pacific during the anticipated time frame.
In developing economies like China and India, the market for non-phthalate plasticizers is strong. The industry’s growth in the formerly mentioned countries is due to the high presence and rate of economic expansion in developing countries, increase of infrastructure projects, urban development and living standards.
These areas are expected to fuel rapid industrial expansion and innovation, as well as consolidation of the industry. Owing to these reasons, the region is expected to boost rapid industrial expansion and innovation, as well as consolidation of the industry.
In regions such as Latin America and the Middle East and Africa, non-phthalate plasticisers have shown modest growth compared to other industries present in the region.
Non-Phthalate Plasticizers Market: Key players
Key market players have adopted a blend of organic and inorganic strategies including strategic product launches, partnership, collaborations, capacity expansions and investment in research and developments to improve their product offerings in the non-phthalate plasticizers market and offer competitive products to their customers.
The key players in this market are
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About the AuthorDivakar
Joined: January 23rd, 2017
Articles Posted: 1,148
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