Pune,India, April 17, 2023 (GLOBE NEWSWIRE) -- 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, 2023-2030.”
Plasticizers are additives that are added to plastic materials to improve their flexibility, durability, and workability. They are usually added to plastics during the manufacturing process to make them more pliable and easier to shape and mold. Plasticizers work by increasing the mobility of the polymer chains in the plastic material. This makes the plastic more flexible and less brittle, which can improve its performance in a variety of applications.
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List of Key Players Profiled in the Plasticizers Market Report:
- UPC Technology Corporation
- BASF SE
- Exxon Mobil Corporation
- Nan Ya Plastics Corporation
- Eastman Chemical Company
- Perstorp Holding AB
- Evonik Industries
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
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| Plasticizers Market Growth Drivers | Rising Growth of Construction Industry to Stimulate Growth |
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https://www.fortunebusinessinsights.com/plasticizers-market-104572
Segments-
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.
Geographic Segment Analysed in the Report:
- North America (USA and Canada)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
COVID-19 Impact-
Detrimental Impact of Covid-19 on Polymer Industry
COVID-19 negatively influenced the market because of the pandemic scenario; building operations were temporarily halted due to the government-imposed shutdown, resulting in a drop in the usage of flooring and window treatments, wires, and connections, negatively impacting market demand. However, demand for packaging from the food and e-commerce sectors has been considerably growing, which drives demand for packaging materials, including plasticizers, which boosts market development.
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.
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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.
REGIONAL INSIGHTS
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.
Competitive Landscape-
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.
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Industry Development-
- 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.
Read Related Insights:
Plastic Additives Market Worth USD 75.20 Billion by 2028 | Growth at 5.7% CAGR
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