Plasticizers are a group of materials that increase the plasticity of polymers, making them more flexible and bendable without breaking. The flexibility of plastics is one of their most prized qualities, leading to rapid growth of the global plasticizers market in the last few years. Key industries such as automotive, consumer goods, and healthcare are exhibiting a growing demand for components and devices made from flexible plastics, which have several ergonomic and structural benefits, making them the key consumers of plasticizers. According to the report, the global annual for plasticizers is likely to reach 13.2 mn tonnes by 2018.
The report delivers a review of the historical development pattern exhibited by the global plasticizers market and a comprehensive overview of its present condition. The plasticizers market’s most recent figures are analyzed with the help of industry-standard metrics and reliable forecasts regarding the market’s future growth trajectory are presented in the report. The all-inclusive analysis of the market presented in the report makes the report a must-have accessory for players in the global plasticizers market.
The global plasticizers market can be segmented by product type into phthalates, epoxy, polymeric, aliphatic, trimellitates, and phosphates. On the basis of application, wires and cables, adhesives and elastomers, paints and varnishes, coatings and coated fabrics, films and sheets, and floorings and wall coverings are among the key contributors to the global plasticizers market.
Global Plasticizers Market: Trends and Opportunities
The changing lifestyle of newly prosperous consumers in emerging regions such as Asia Pacific, the Middle East, and Latin America is a key driver for the global plasticizers market. The increased purchasing power of consumers in developing countries has led to a rise in the demand for consumer electronics, which use flexible plastics in various components and thus contribute significantly to the global plasticizers market. The expanding consumer electronics industry in China, in particular, is a key contributor to the Asia Pacific plasticizers market and is likely to remain so in the coming years.
The booming automotive industry in Asia Pacific countries such as China, India, South Korea, and Indonesia is another crucial driver for the global plasticizers market. While the increasing disposable income of consumers in this region has led to a growing demand for automobiles, the increasing number of automotive manufacturing facilities is the key factor contributing to the regional market for plasticizers.
On the other hand, the presence of nonbiodegradable and possibly toxic components in plasticizers has become a key restraint on the global plasticizers market. In recent years, environmental laws aimed at minimizing the damage caused to the environment by human activities have become the norm rather than the exception, making the position of the plasticizers industry untenable in some regions and applications. While this has led to the development of bioplasticizers, which are environmentally viable and thus represent a significant step for the plasticizers market’s future development, environmental laws are likely to remain a constraint on the plasticizers market in the near future.
Global Plasticizers Market: Geographical Segmentation
The report examines the performance of the plasticizers market in North America, Europe, Asia Pacific, and Rest of the World. While North America and Europe remain key consumers of plasticizers, Asia Pacific is the leading contributor to the global market. India and China are the regional leaders in the Asia Pacific market and are likely to remain so thanks to their booming manufacturing sectors. In the coming years, the demand for plasticizers from Russia and Brazil is expected to be crucial for the development of the plasticizers market in the Rest of the World.
The report also profiles leading players in the global plasticizers market in order to explain the market’s competitive dynamics. Key companies examined in the report include BASF, Eastman, ExxonMobil, Ferro, Teknor Apex, and Shandong Hongxin.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.