Plasticizers Market 2018 by Latest Innovations, Drivers, Dynamics and Strategic
Posted by Moin Patni on November 13th, 2018
Plasticizers Market Introduction: Plasticizers Market was valued at USD 16,450 Million in 2017 and is likely to reach USD 18,500 Million in 2022, expanding at CAGR of 2.2% between 2018 and 2022.
Plasticizers Market is growing with the rapid pace; mainly due to the growing construction, polymer, rubber, and coating industries. According to a recent study report published by the Market Research Future, the global market of plasticizers is prospering and expected to gain strong influence over the forecast period. The market is estimated to demonstrate a remarkable growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the forecasted period (2018 – 2022).
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Plasticizers Market Key Players: Plasticizers Key Players in Market Includes: UPC Group (Taiwan), Exxon Mobil Corporation (U.S.), BASF SE (Germany), NAN YA PLASTICS CORPORATION (Taiwan), AEKYUNG PETROCHEMICAL Co., Ltd (South Korea), Shandong Qilu Plasticizers Co. Ltd. (China), Eastman Chemical Company (U.S.), LG Chem (South Korea), Evonik Industries AG (Germany), and Shandong Hongxin Chemicals Co., Ltd. (China) among others are some of the prominent players at the forefront of competition in the Global Plasticizers Market and are profiled in MRFR Analysis.
Plasticizers Market Segment Analysis: Plasticizers Market as type and application is segmented into by type: Phthalates, Adipates, Trimellitates, Epoxy, Polymerics and Phosphates and by application flooring, wall coverings, roofing membranes, electric wires & cables, automotive, medical devices & others. Plasticizers such as phthalates is anticipated to have considerable demand over the forecast period, owing to its demand in the automotive industry, building & construction along with its huge consumption in PVC products. Adipates plasticizers is followed by phthalates, owing to its use in adhesives and sealants.
The key driver for plasticizer are the cumulative growth of industrial sector in the developing nations, along with the increased spending of consumers in the region. However, environmental regulations and availability of substitutes for plasticizers is anticipated to hamper the plasticizer market growth.
Industry/ Innovation/ Related News: October 28, 2015 – BASF SE (Germany), one of the leading manufacturers of plasticizers, declared that the company has initiated to start the production of Palatinol® DOTP (dioctyl terephthalate), a general-purpose plasticizer, in North America in 2017, by improving and expanding the production facilities in Pasadena, Texas. This facility has a capacity to produce 60,000 metric tons per year. One of the sources of the company declared that this decision was mainly taken due to growing demand of plasticizers in developed and emerging companies. Moreover, BASF SE, also announced that Palatinol DPHP (dipropyl heptyl phthalate) and DINP (di-isononyl phthalate), were integrated to produce Palatinol DOTP at its production facility. Therefore, these factors are estimated to drive the market during the forecast period due to advantages offered by the product such as flexibility, strength, durable nature, and others.
Plasticizers Market Application: Plasticizers are organic ester additives, which are added to polymers to enrich the performance of the polymeric material, by enhancing various properties such as, flexibility, diffusivity, heat resistance, stability and toughness. Based on the synthesis steps, plasticizers are classified into polymeric and monomeric plasticizers. Plasticizers are mainly used with PVC, thus altering the characteristics and performance of the PVC for different applications. Some of the important applications of plasticizers includes, flooring, wall covering, roofing membranes, electrical cable & wires, automotive, medical devices among others. Globally, 75-85% of plasticizers used are phthalate type, used commonly with PVC applications.
Plasticizers are used in numerous end-uses such as swimming pool liners, garden hoses, water-proof roofs, footwear and others to impart cost-effective nature, long life, and reliable nature to the final product. They are also utilized in rubber and coating industries due to enhanced mechanical strength, and high quality features offered by them. Due to these factors, the increasing demand of plasticizers has prompted the manufacturers and investors to adopt them in end-use applications. Additionally, the growing research & development activities of the product in the leading companies is estimated to drive the market over the assessment period.
Plasticizers is driven by the region Asia Pacific, owing to extensive use of the product in polyvinylchloride manufacturing companies. Low phthalates plasticizers are used in medical devices, polyvinylchloride (PVC) pipes, adhesives, inks, and cosmetics whereas high phthalates materials are utilized in various products such as wire & cable, flooring, wall covering, self-adhesive films, synthetic leather, coated fabrics, roofing and automobile applications.
Plasticizers Market Regional Analysis: Geographically, Asia Pacific region holds the major portion of global plasticizers market. China is the leading country in the region due to boundless consumption of plasticizers in polyvinylchloride coatings, cars, trucks, and others. Growing demand for dispersants in vinyl roofing membranes, resilient flooring, wall coverings, acoustical ceiling surfaces, and others has boosted the market demand in Japan, and India. North America has witnessed a significant growth in the market owing to rapid investments and technological advancement in end-use industries. A notable growth has been received by the European region due to implementation of strict rules and regulations to adopt dispersants in end-use industries. Additionally, the market is growing significantly in the Middle East & Africa and Latin America regions, due to boundless use of the product in medical, outdoor products, and others.
Plasticizers Market Competitive Landscape: Plasticizers Market appears to be competitive with the presence of several large and small players functioning in manufacturing and development of product. These key players compete with each other’s on the basis of quality, price, production and innovation. Plasticizers market is set to grow at a remarkable rate which is likely to attract many newcomers to the market resulting into strong competition in the future. Manufacturers operating in the plasticizers market are struggling to respond to the growing demand for the product from medical, automotive, personal care, and other sectors attributed to expanding production capacity in major sectors. They ensure to deliver the best quality products based on innovative technologies, solutions and best practices.
Plasticizers Market Table of Content to be Continue…….,
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About the AuthorMoin Patni
Joined: February 20th, 2018
Articles Posted: 412
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