Non-phthalate Plasticizers Market Worth $3.9 Billion by 2025 - Exclusive Report by MarketsandMarkets™

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May 05, 2020, 08:30 ET

CHICAGO, May 5, 2020 /PRNewswire/ -- According to the new market research report "Non-phthalate Plasticizers Market by Type (Adipates, Trimellitates, Benzoates, Epoxies, and Others), Application (Flooring & Wall Coverings, Wires & Cables, Films & Sheets, Coated Fabrics, Consumer Goods), and Region - Global Forecast To 2025", published by MarketsandMarkets™, the Non-Phthalate Plasticizers Market is projected to grow from USD 3.1 billion in 2020 to USD 3.9 billion by 2025, at a CAGR of 4.6%.

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The demand for non-phthalate plasticizers in emerging economies, such as APAC and South America, is increasing owing to the growing construction industry. The higher price of non-phthalate plasticizers than phthalate plasticizers is hindering the growth of the non-phthalate plasticizers market. The demand for non-phthalate plasticizers is increasing, owing to their non-toxic properties. This increase in demand for bio-based plasticizers provides growth opportunities to the market. On the other hand, poor performance and incompatibility of few non-phthalate plasticizers with polymers are the major challenges for the market.

On the basis of application, the flooring & wall coverings segment is estimated to lead thenon-phthalate plasticizers market in 2020.

Flooring & wall coverings is one of the largest applications of non-phthalate plasticizers used in flexible PVC. According to the American Chemistry Council, flexible PVC is the second-most commonly used plastic material and is mainly used in the flooring & wall coverings application in the construction industry. The low volatility and high extraction resistance properties of non-phthalate plasticizers are driving its demand in this application.

On the basis of type, the trimellitates segment is projected to lead the overall non-phthalate plasticizers market during the forecast period.

Trimellitates are manufactured by the esterification of C7 to C10 alcohols with trimellitic anhydride (TMA). They impart various properties such as low volatility, low migration rate, good compatibility with PVC, good outdoor weatherability, plasticizer solvency, high temperature resistance, and extraction resistance. They are used in dashboard PVC skins, and in the insulation or sheathing of electrical cables for high temperature, owing to low volatility properties.

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On the basis of region, APAC is estimated to lead the non-phthalate plasticizers market in 2020.

APAC consists of major developing nations, such as China and India, and therefore, the scope for development for most of the industries is high. The region accounted for the largest market share and is projected to be the fastest-growing market for non-phthalate plasticizers. The growth of the market in the region is attributed to the presence of emerging countries and their high economic growth rate, the rise in infrastructure projects, increasing urbanization, and growing standard of living. These developing countries are the driving engines for the non-phthalate plasticizers market in the region.

The growth of the flooring & wall covering market is directly related to the growth of the construction industry, which, in turn, is increasing the demand for non-phthalate plasticizers in APAC. Various manufacturers are shifting their production base to the region because of advantages, such as low cost of production and ability to serve the local emerging market.

The key players in the Non-phthalate Plasticizers Market include BASF (Germany), Eastman Chemical Company (US), ExxonMobil (US), Evonik Industries (Germany), DIC Corporation (Japan), Perstorp (Sweden), Lanxess AG (Germany), KLJ Group (India), Polynt (Italy), and Mitsubishi Chemical Corporation (Japan). These players have established a strong foothold in the market by adopting strategies, such as expansion and new product launch.

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