New York, NY, Dec. 07, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Plasticizers Market by Type (Phthalates, Terephthalates, Aliphatics, Trimellitates, Polymerics, Epoxy, Phosphates, and Others) and by Application (Automotive, Cables & Wires, Flooring & Roofing Covering, Coated Fabric, Consumer Goods, Packaging, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017–2024“. According to the report, the global plasticizers market was valued at USD 12.25 billion in 2017 and is expected to reach USD 17.94 billion by 2024 and is anticipated to grow at a CAGR of 5.6% between 2018 and 2024.
Plasticizers are additives, which are added to polymers to enhance the performance of the material owing to its properties, such as diffusivity, flexibility, stability, heat resistance, and toughness. A large amount of plasticizers is used in PVC, thus altering the performance and characteristics of PVC for different applications. The phthalate plasticizer represents about 85% of the global plasticizer market.
Browse through 71 Tables & 43 Figures spread over 110 Pages and in-depth TOC on “Global Plasticizers Market Size 2017: By Type, Share, Industry Demand, Growth, Segments, Analysis and Forecast, 2024”.
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Plasticizers market is likely to grow considerably in the forecast time period, owing to the increasing demand for plasticizers by the packaging, automotive, and construction industries. Additionally, the growing demand for polymers in garden hoses, water-proof roofs, swimming pool liners, and footwear is further expected to boost the plasticizers market growth globally. Besides, the growing construction industry that extensively uses plasticized polymers for making flooring and roofing cover is further expected to positively affect the plasticizers market growth. However, rising environmental regulations and the availability of substitutes might hamper this market’s growth in the near future. Alternatively, the constant product innovations and increasing R&D activities to generate bio-derived plasticizers are anticipated to create new growth opportunities in the plasticizers market during the estimated time period.
The plasticizers market is divided based on type and application. By type, the market for plasticizers includes phthalates, terephthalates, aliphatics, trimellitates, polymerics, epoxy, phosphates, and others. The phthalates segment dominated the market and is expected to maintain its dominance in the upcoming years, due to its cost-effectiveness and easy availability, among other versatile properties. This resulted in the product being widely used in automotive, cables and wires, and flooring and roofing covering applications. Moreover, epoxy and polymerics plasticizers are expected to grow at a fast rate, due to increased product demand for construction and automotive applications. By application, the plasticizers market is segmented into automotive, cables and wires, flooring and roofing covering, coated fabric, consumer goods, packaging, and others. Increasing usage of plasticizers, especially in the automotive and cables and wires industries, is further estimated to drive this market’s growth during the forecast time period.
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In 2017, Asia Pacific dominated the market and is expected to continue its dominance in the upcoming years as well. The regions thriving automotive industry has increased the demand for plasticizers in PVC, which is used to produce protective underbody coatings for cars. Plasticized PVC plays a vital role in enhancing the appearance and reducing wear and tear of cars. Furthermore, increasing construction activities in developing countries, such as China and India, are projected to enhance the demand for PVC cladding and roofing. Plasticizers are widely used to manufacture flexible PVC roofing membranes. Thus, these factors are likely to boost the plasticizers market in this region.
North America is likely to be the fastest growing region, due to the presence of chemicals, packaging, and healthcare industries in the region. The surge in the application of plasticizers for producing plastic food packaging films is also projected to propel this market’s growth during the forecast time period. Additionally, plasticizers are used to make inks softer, flexible, and adherent. Plasticizers are used in inks to maintain adhesion in low temperatures, such as in frozen food packaging. In 2017, the U.S. held the largest market share, followed by Canada, and is likely to maintain its regional dominance in the near future, due to the country’s flourishing packaging industry.
Browse the full "Plasticizers Market by Type (Phthalates, Terephthalates, Aliphatics, Trimellitates, Polymerics, Epoxy, Phosphates, and Others) and by Application (Automotive, Cables & Wires, Flooring & Roofing Covering, Coated Fabric, Consumer Goods, Packaging, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017–2024" Report At https://www.zionmarketresearch.com/report/plasticizers-market
Europe is likely to grow substantially during the forecast time period. The emerging food industry in the region is expected to fuel the demand for packaged food, thereby, propelling the usage of PVC polymer for food packaging and rising application of plasticizers in the medical industry for producing medical tubing and blood bags are expected to drive the European plasticizers market throughout the forecast timeframe.
Latin America plasticizers market is expected to show decent growth in the upcoming years, owing to the growing demand for PVC polymers in various applications, such as automotive, packaging, and construction. In addition, the region’s growing automotive industry is projected to escalate the demand for plasticizers, which are used to produce flexible PVC for automotive components.
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Some key players operating in the global plasticizers market include BASF, Dow Chemicals, ExxonMobil, Evonik Industries, Aekyung Petrochemical Arkema, Eastman Chemicals, Clariant International, Adeka, UPC Group, and Blue Sail Chemical Group, among others.
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This report segments the global plasticizers market as:
Global Plasticizers Market: Type Analysis
Global Plasticizers Market: Application Analysis
Global Plasticizers Market: Regional Analysis
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