plasticizer market size Key Factors and Emerging Opportunities with Current Trends Analysis 2022-2030

Overview:

plasticizers are formed by a reaction between difunctional acids (usually adipic, and sebacic acid) and ethyl glycol or propylene glycol. Plasticizers are basically softening substances that are used to improve the processability and enhance the flexibility of any product. A wide range of polymeric plasticizers is available in diverse groups and compositions which can be applied to suit numerous possible applications. The global polymeric plasticizers market is anticipated to demonstrate steady growth and reach a significant valuation over the forecast period of 2016–2023, as deemed by Market Research Future (MRFR) in its extensively studied report. plasticizers find principal application in PVCs and other polymers. However, they also find application in wires & cables, seals, transmission belts, films, hoses & tubes, synthetic and natural leather and other multiple purposes. Plasticizers are typically applied to the production of a variety of plastic products. 

Polymeric plasticizers are increasingly becoming the focus of material scientists, and rigorous R&D activities have led to the development of technologically advanced and improved plasticizers. Legislation and health safety issues have prompted the use of natural-based polymeric plasticizers that are characterized by low toxicity and low migration. Such trends are likely to augment the growth of the global polymeric plasticizers market over the forecast period.

In contrast, surging environmental and toxicity concerns are likely to restrict the growth of the global polymeric plasticizers market over the forecast period. The use of phthalate esters as a whole has witnessed an overall decline in recent years which might undermine market growth. Furthermore, the European Union banned the use of DEHP, BBP, and DBP in 2015 has restrained the growth of the market in Europe to a large extent.

Segmentation

The global polymeric plasticizer market has been segmented based on application and end user.

By application, the global polymeric plasticizer market has been segmented into adhesive, pigment, films, membranes, cables, and others.

By end user, the global polymeric plasticizer market has been segmented into paints, packaging, automotive, construction, electronics, and others.

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Regional Analysis

By region, the global polymeric plasticizer market has been segmented into Asia Pacific (APAC), North America, Europe, and the Rest of the World (RoW).

APAC is leading the global polymeric plasticizer market. The packaging industry in the region is flourishing which generates considerable demand for polymeric plasticizer. The growth of the APAC market can also be attributed to heightened demand from the paint and construction industry in the region. China, South Korea, Taiwan, India, and Japan are the key contributors to the APAC polymeric plasticizer market. South Korea is the largest consumer of polymeric plasticizer in APAC.

Booming automotive and electrical industry is working in favor of the North America polymeric plasticizer market which is expected to showcase substantial growth over the forecast period.

Europe ranks third in the global polymeric plasticizer market. Huge volume of consumption of polymeric plasticizer in the construction and paints industry can be credited for the growth of the Europe market.

In RoW market, Latin America and the Middle East & Africa markets have demonstrated substantial growth in recent years on account of application in adhesives, cables, membranes, pigments, films, and others.

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Competitive Landscape

The key players in the global polymeric plasticizer market include UPC Technology Corp (Taiwan), Eastman Chemical Company (US), LANXESS (Germany), Aekyung Petrochemical Co., Ltd. (South Korea), BASF SE (Germany), Exxon Mobil Corporation (US), E. I. du Pont de Nemours and Company (US), Teknor (US), Evonik Industries AG (Germany), and Hallstar (US).

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