Plasticizers Market Demand, Application, COVID-19 Analysis, Share, Forecast 2023
Plasticizers Market Overview
Market research future will be publishing a cooked research report
on Global Plasticizers Market that contains the information from
2016 to 2022. Global
Plasticizers Market is expected to grow with the CAGR 2.2% of more than from
2016 to 2022, and with this it is predictable to cross USD 18,500 Million by
2022.
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. Phthalate plasticizer represented about 85% of the
global plasticizer market report. The growth of automotive and chemical
among other industries in the developing markets is anticipated to further
augment the demand for plasticizers.
Plasticizers are widely used as additives in PVCs. They are used
in PVC resins, PVC cables, vinyl flooring, wire jacketing, automobile parts
etc. The use of plasticizers for residential applications such as, flooring,
wall coverings and roofing membranes is further attributed to the growth of
plasticizers market in the near future. However, the regulations prohibiting
the use of phthalate plasticizers in the developed nations is restricting the
growth of plasticizers market in the developed nations. Inclination towards
bio-plasticizers is also anticipated to hamper the growth of global plasticizers industry during
the forecast period.
Plasticizers Market Segment analysis:
COVID-19 analysis on Plasticizers
market growth 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
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Asia pacific has dominated Plasticizers Market in 2016
Asia Pacific dominated the market for global plasticizers
market value and registered a considerable CAGR
in 2016. The market has been growing due to various growing manufacturing
sector namely, automotive, medical devices, chemicals and consumer goods. Among
the countries in Asia Pacific, China dominated the market for plasticizers in
terms of value and volume in 2016, and it is anticipated to dominate in the
fore coming years.
Developed markets such as North America and Europe plasticizers
markets witnessed sluggish growth and consumption due to the stringent
regulations for use of phthalate plasticizers in the region along with the
customer inclination towards bio-plasticizers are some of the factors
attributed to the sluggish growth of plasticizers market in these regions.
Polyvinyl Chloride Market Key Players
Leading players profiled in the polyvinyl chloride market report
include I. du Pont de Nemours and Company (US), Xinjiang Zhongtai Chemical Co.,
Ltd. (China), Vinnolit GmbH & Co. KG (Germany), Kem One SAS (France),
Mexichem, S.A.B. de C.V. (Mexico), Axiall Corporation (US), Occidental
Petroleum Corporation (US), Ineos Group Limited (UK), Shin-Etsu Chemical Co.,
Ltd. (Japan), and Formosa Plastics Corporation (Taiwan). Key players are
incorporating several strategies to strengthen their position in the market,
such as product launches and innovations, expansions, research and development,
partnerships, collaborations, and more.
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