Plasticizer Market Application, Demand, COVID-19 Analysis, Forecast by 2024

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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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of market and industries. Cordially get in touch for more details.