Due to the growing need for polyvinyl chloride goods in a wide range of industrial, residential, and manufacturing applications will bosst the Non-phthalate Plasticizer Market
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The global non-phthalate plasticizers market is primarily divided into 4 key segments. They are type, application, end users, and region.
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- Type
On the basis of type, the global non-phthalate plasticizers market is segmented into adipates, aliphatics, trimellitates, benzoates, terephthalates, and epoxies. Among these, adipates plasticizer is predicted to witness the fastest-growth. Adipates plasticizers provide favorable electrical properties at lower temperatures and are robust. Due to this factor, adipates plasticizer sub-segment is anticipated to witness significant growth in the upcoming years.
- Application
On the basis of applications, the global market is segmented into adhesives & sealants, automotive, cable & wire, flooring & wall coverings, consumer goods, sheet & film, and others. The wall & floor coverings sub-segment is predicted to grow at significant rate over the forecast period mainly because non-phthalate plasticizers are highly compressible and deliver low density in polyvinyl chloride as they have a number of advantages when used in floor & wall coverings.
- End Users
The end user segment is further divided into the following sub-segments – healthcare, construction & building, healthcare, automotive, and beverages & food. From these, the construction & building sector is estimated to witness significant growth and anticipated to follow the same trend till the year 2027. Due to the increasing demand for vinyl tiles, floors, and carpets, the construction & building industry is accounted to be the prime end-user amongst these chemicals.
- Region
The region segment is further divided into Asia-Pacific, Europe, LAMEA, and North America. Due to the growing need for polyvinyl chloride goods in a wide range of industrial, residential, and manufacturing applications, the North America and Europe regional markets are expected to account for major market share in the analysis period. On the other hand, the Asia-Pacific region market is predicted to experience fastest growth due to the increasing demand for non-phthalate plasticizers in the construction sector of this region.
Key Market Players
The key market players operating in global non-phthalate plasticizers industry are Jiangsu Zhengdan Chemical Industry Co Ltd., Emerald Performance Materials LLC, Lanxess AG, Kao Co., PTT Chemical International Pvt. Ltd., KLJ Group, Vertellus Holdings LLC, PolyOne Co., The HallStar Co., Velsicol Chemical Co., and others. These firms are taking various business growth initiatives such as acquisitions and mergers, collaborations & partnerships, investments in R&D, and new product launches. These initiatives have helped these firms in obtaining a competitive-edge in the market in the recent period.
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