Global Specialty Plasticizer Market Size, Analysis Based on Growth New Trends Forecast To 2022
Added: (Mon Jun 17 2019)
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The specialty plasticizers market is experiencing a significant rise due to the growing intake of PVC in several industries. These specialty plasticizers are additives that provide plasticity or flexibility to the end-products. The product is quite popular in several sectors such as leather, PVC films, electrical wires as its low-temperature resistance, volatility-resistance, excellent compatibility with electricity are some of the sought-after features in these industries. In PVC industry it has a significant role. Specialty plasticizer additives, in combination with PVC, can impact the construction of flooring, roofing and wall coverings.
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The global specialty plasticizers market is eyeing for a moderate 3% CAGR during the forecast period (2016-2022) and can exceed a valuation of USD 18,594.07 million by the end of 2022. The recent report, as published by Market research Future (MRFR), highlights segmental analysis and factors that can impact the market in the foreseeable future. At the same time, the report has included expert opinions for a better understanding of the market.
In 2018, Arkema launched an eco-friendly specialty plasticizer that has been sourced from soybeans. This can significantly boost the image of plasticizers in the developed countries and help the market counter stringent regulations imposed upon it by governments.
In 2018, Emery Oleochemicals, a company known for their naturally sourced chemical productions, came up with EDENOL, bio-based specialty plasticizer. The component contains azelaic acid and offers features that can improve the performance of both plastic and synthetic rubbers.
The global specialty plasticizer market has segments such as type and application in the report for a holistic understanding of the market.
Based on the type, the specialty plasticizer market includes phthalates, trimellitates, aliphatic dibasic esters, polymeric, phosphates epoxides, and others. PVC segment is generating huge demand for the non-phthalates which can give the market a significant rise.
Based on application, the specialty plasticizer market can be segmented into consumer goods, flooring & wall coverings, coated fabric, film & sheet, wire & cable, and others. Its toxic nature can prevent its growth in consumer goods segment. But the market can regain its composure as the construction sector is burgeoning.
Region-specific understanding of the specialty plasticizers market includes namely North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
The APAC has the maximum share of the market as the region is flourishing owing to the economic revamping of several countries. These countries are focusing mainly on construction and industrial sectors where the specialty plasticizers market is finding ample scope for exploration. China’s market is the largest one followed by Japan. India is not lagging. The region, along with Taiwan and South Korea, is certainly making an impact to maintain the dominance of the regional market.
Players to impact the specialty plasticizer market are BASF SE (Germany), Nan Ya Plastics Corporation (Taiwan), Eastman Chemical Company (US), Evonik Industries AG(Germany), UPC Group (Taiwan), Struktol Company of America (US), Shandong Qilu Plasticizers Co. LTD (China), Aekyung Petrochemical Co. LTD (South Korea), ExxonMobil Corporation (US), Lg Chem LTD. (South Korea), and others.
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