The expansion of the construction industry and advancements of PVC plasticizers with enhanced characteristics have resulted in boosting the PVC Plasticizers market.
The Global PVC Plasticizers Market is forecast to reach USD 5.97 Billion by 2027, according to a new report by Reports and Data. There has been an elevating awareness about the safety and environmental concerns associated with the use of traditional plasticizers. It has resulted in paving the path for the expansion of PVC plasticizer market. These plasticizers have wide product ranges which can effectively cater to the diverse needs of various end-applications that is also contributing to the growth of the market. It is effective in fast-fusing or general-purpose plasticizers. One of its major application is in food packaging, containers/utensils polyester. The underlying reason being, its traits like oil resistance and excellent, non-volatility. These plasticizers also allow manufacturing high-performance products with minimal or no reformulation, protecting the manufacturers from long duration of approval, development, and transition time. Factors like expansion of the construction industry, the rising emphasis of the government of various nations for banning Phthalate Plasticizers, also contributes to the expansion of the market. In context to region, Europe can be seen to occupy a significant share of the market. The market share held by the region is attributed to the continuous expansion of the healthcare and automotive sector in this region. The new medical-device directive of this region emphasizes on the abolishment of the application of phthalates by 2020-2026, which also have a significant positive impact on the market growth.
Top Companies: LG Chem Ltd, BASF SE, LANXESS, Eastman Chemical Company, NAN YA PLASTICS CORPORATION, Grupa Azoty, Evonik Industries AG, DIC CORPORATION, Valtris Specialty Chemicals, Velsicol Chemical LLC and Perstorp.
Further key findings from the report suggest:
The PVC Plasticizers market held a market share of USD 3.32 Billion in the year 2018 that is forecasted to grow at a rate of 6.5% during the forecast period.
In context to Type, the Trimellitates segment is projected to witness the fastest growth rate of 7.3% during the forecast period, which is expected to hold, 17.3% of the market by 2027. The growth rate witnessed by the Trimellitates segment is attributed to its low volatility, ease of blending with highest-molecular-weight phthalates, high performance, and enhanced chemical properties as compared to other plasticizers. The mentioned traits have resulted in its extensive application in electrical cable insulation, food packaging, and construction materials, among others, contributing to the growth rate witnessed by this segment.
In context to Application, the Flooring Wall Coverings segment held the largest market share of more than 30.0% in 2018, with a significant growth rate of 6.5% during the forecast period. The high durability of these plasticizers and its ease of maintenance have resulted in its wide application in flooring wall coverings of residential as well as commercial constructions wherein it can survive foot traffic in commercial buildings like in shopping malls.
In regards to End-user, the Automotive segment is projected to witness the fastest growth rate of 7.2% during the forecast period, which is expected to hold 19.2% of the market by 2027. The market share held by the Automotive segment is attributed to the continuous expansion of the industry, increasing demand for light weight vehicles and applicability of these plasticizers in seat upholstery, seat belt, and airbags, contributing to the growth rate witnessed by this segment.
In regards to the region, North America held 26.0% of the market in 2018, with a CAGR of 6.1% during the forecast period. The market share held by the region is attributed to the stringent government regulations associated with the use of traditional phthalate plasticizers and high demand for PVC products in commercial and residential applications, which is boosting the market growth in this region.
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Trimellitates
- Adipates
- Benzoates
- Epoxies
- Others
End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Automotive
- Building and construction
- Healthcare
- Food beverage
- Sports and leisure
- Consumer goods
- Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Wire Cable
- Flooring Wall Coverings
- Consumer Goods
- Film Sheet
- Coated Fabric
- Adhesives, sealants and caulks
- Others
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Key questions covered in the global PVC Plasticizers market report:
- What is the expected market size of the global PVC Plasticizers market during the forecast period?
- What factors are expected to hamper global PVC Plasticizers market growth over the forecast period?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global PVC Plasticizers market?
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