The global plasticizers market size is expected to gain momentum owing to the increasing demand for flexible polymers during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Plasticizers Market, 2021-2029.” Increasing use of polymeric materials in automobiles, consumer items, and infrastructure, as the need for phthalate in packaging grows due to the substances’ ease of availability and low cost. The growth in building activity and fast industrialization in developing nations such as India, China, and others is driving market expansion. They are primarily utilized in the automobile industry to provide protective underbody designs and coatings.
By type, the market is segmented into phthalates and non-phthalates. On the basis of application, the market is segregated into flooring and wall covering, wire and cable, consumer goods, film and sheet, coated fabrics, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What does the Report Offer?
The report is a collection of first-hand knowledge, qualitative and quantitative analysis by industry analysts, and input from industry professionals and value chain players. The study examines parent market trends, macroeconomic data, and controlling variables, as well as market attractiveness by segment. The qualitative impact is also depicted in the report.
Drivers & Restraints-
Rising Growth of Construction Industry to Stimulate Growth
The global plasticizers market growth is expected to grow due to the rising construction during the projected period. The construction industry is expanding rapidly as a result of increased infrastructure initiatives, particularly in emerging nations. This, in turn, is projected to boost the expansion of the plasticizer market. Additionally, plasticizers aid in the reduction of water needs while also making concrete robust and usable. These are often organic or a mix of bio-molecules that aid in the reduction of moisture content for feasibility. The overall value of new building projects put into effect in the United States in 2019 was approximately USD 1,365 billion and is expected to reach approximately USD 1,429 billion in 2020, with a growth rate of approximately 4.5 percent, due to the increase in demand for flooring and wall covering, which in turn raises the requirement for the market.
Increasing Demand from Packaging to Promote Growth in Asia Pacific
Asia Pacific is expected to hold the largest global plasticizers market share during the forecast period. This is due to the expanding infrastructure and automobile industries employed in the production of flexible PVC, which is utilized in carpeting and wall coverings, cable insulation, treated textiles, consumer goods, and films. These applications are likely to be the primary drivers of the market.
North America is expected to have a sizable share of the market. This is due to the increasing demand for polymers from the electronics and textile sector to drive the market in the region.
Manufacturers Focus on R&D Investments to Strengthen their Position
Due to the existence of a significant number of well-established firms, new entrants in this industry face an intensely competitive terrain. Several providers in the market for plasticizers are employing a variety of tactics to compete effectively. They are increasing their investment in research and development. This approach is assisting them in providing higher quality.
June 2019: Perstorp Holding AB introduced Pevalen Pro, a novel renewable polyol ester plasticizer (non-phthalate). This flexible PVC plasticizer is inexpensive, plasticizing-efficient, UV stable, and soft.
List of Key Players Profiled in the Global Market for Plasticizers:
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