What are plasticizers and what are their benefits?
Plasticizers are colorless and odorless esters, mainly phthalates, that increase the elasticity of a material (e.g., polyvinylchloride (PVC)).
Plasticizers soften the PVC to make it flexible and bendable. This opens up a huge range of possibilities for new applications. One of the main benefits of plasticizers is the durability they confer onto PVC applications, which can ensure high performances for up to 50 years. Without plasticizers, PVC can only be rigid, such as the PVC used in wastewater pipes.
What types of products are plasticizers used in?
Around 90 % of all plasticizers are used in the production of flexible polyvinyl chloride (PVC), also known as vinyl. The main applications for flexible PVC include flooring and wall coverings, roofing membranes, electrical cable and wire insulation, automotive applications, medical devices, synthetic leather goods, and so forth. Some plasticizers can also be used in rubber products, paints, printing inks, adhesives, and sealants for professional use. The use of plasticizers in all applications is strictly regulated.
What are they made of?
Plasticizers are produced by a reaction of an alcohol with an acid such as adipic acid, phthalic anhydride, and so forth. The choice of alcohol and acid will determine the type of ester that can be produced and hence the kind of plasticizer. The combinations are almost endless, but only a very limited number have survived the rigorous performance, cost, availability, health, and environmental requirements that are imposed by the market including by users and regulation.
Non-phthalates are the esters of benzoic or adipic acid. They are added to polymers to soften the hardness and brittleness of plastic, thereby improving its toughness. They are mainly used as plasticizers that offer superior durability and operational flexibility to the substrate polymer. Non-phthalate or phthalate-free plasticizers are the effective and safe alternative to phthalate-based plasticizers owing to their minimal health and environmental impacts.
Market Analysis of Non-Phthalate Plasticizer
The global non-phthalate plasticizer is projected to reach USD 3,412.2 million at a robust CAGR of 6.91% during the forecast period. The rising demand for non-phthalate plasticizers on account of stringent health and safety regulations against the use of its counterpart is expected to drive the global market growth in the coming years. By type, the adipates segment held the largest market share of 31.03% in 2017 owing to its excellent performance and characteristics at an affordable price. The trimellitates segment is projected to register the highest CAGR of 7.66% during the forecast period owing to its low volatility properties and wide applications in wires & cables and healthcare products. Based on application, the flooring & wall covering segment dominated the global market and was valued at USD 523.7 million in 2017 due to its high durability and easy maintenance. Additionally, it can withstand heavy foot traffic such as in retail stores and repeated cleaning in the healthcare sector. On the basis of end-use industry, the building & construction segment accounted for the largest market share of 28.6% in 2017 and is likely to exhibit a CAGR of 7.03% in the coming years. This is attributed to the surging demand for the product in vinyl tiles, carpets, and flooring. The increasing prices of raw materials are expected to pose a major challenge to the manufacturers. Nevertheless, the growing demand in the automotive industry to replace conventional plasticizers is likely to offer lucrative opportunities to the market players.
However, the higher cost of phthalate-free plasticizers as compared to traditional plasticizers is likely to hamper the global market growth in the coming years.
Global Trends and Demands
Geographically, the global non-phthalate plasticizer market has been studied across five key regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The Asia-Pacific market dominated the global market with a share of 49.71% in 2017 and is expected to register the highest CAGR of 7.58% during the forecast period. This is attributed to the growing construction and electronics industries in the region.
China is the leading country in the region with a market share of 53.03% in 2017 owing to the large consumer base, and rising consumption of non-phthalate plasticizers in the flooring and wall coverings and wire and cable applications. The North American market was the second-largest valued at USD 572.0 million in 2017 and is projected to exhibit a substantial CAGR of 6.52% in the coming years owing to the stringent regulations prohibiting the use of traditional phthalate plasticizers.
The US accounted for the largest market share of 85.31% in 2017 due to the growing demand for PVC products in a number of residential, industrial, and commercial applications.
The European market held a significant market share of 17.77% and is expected to reach USD 563.0 million by the end of 2023 owing to the rise in government regulations banning the consumption of toxic conventional plasticizers.
Germany held a significant market share of 29.43% in 2017 owing to the strong technological advancements and product innovation. The Middle East & Africa market was valued at USD 109.2 million in 2017 and is expected to register a CAGR of 6.91% during the forecast period. GCC held the largest market share of 60.39% in 2017 owing to the growing demand for the product in PVC applications. The Latin American market was valued at USD 74.0 million in 2017 and is expected to exhibit a steady CAGR of 6.43% during the review period.
Mexico dominated the regional market and is expected to register a healthy CAGR of 6.35% during the forecast period owing to the increasing demand for the product in the building & construction industry.
Statistics around non-phthalate plasticizer industry
• The global non-phthalate plasticizer market is projected to reach USD 3,412.2 million by the end of the forecast period at a CAGR of 6.91%.
• By type, the adipates segment held the largest market share of 31.03% in 2017 and is expected to reach USD 1050.9 million in the coming years.
• Based on application, the flooring and wall covering segment dominated the global market with a market share of 22.55% in 2017 and is likely to register a significant CAGR of 7.29% during the forecast period.
• On the basis of end-use industry, the building and construction segment was the largest and valued at USD 667.4 million in 2017 and is likely to exhibit a healthy CAGR of 7.03% during the review period.
• Asia-Pacific is expected to be the high growth potential market for the key industry participants over the coming years. The substantial growth of the building and construction industry, large consumer base, and favorable government policies have increased the importance of non-phthalate plasticizers among the industry players in the region.
Key Players: Some of the key players operating in the global non-phthalate plasticizer market are
BASF SE (Germany)
LG Chem Ltd (South Korea)
Eastman Chemical Company (US)
LANXESS (Germany)
Grupa Azoty (Poland)
NAN YA PLASTICS CORPORATION (Taiwan)
DIC CORPORATION (Japan)
Evonik Industries AG (Germany)
Velsicol Chemical LLC (US), and
Valtris Specialty Chemicals (US).
For more information or for report request, visit @ https://www.aarkstore.com/ict/1097438/global-residential-security-market-by-product-forecast-2023
The construction sector requires a large quantity of plasticizers due to the large-scale application of polyvinyl chloride (PVC) in the production of several building materials and tools.
PVC products are used in the construction sector as they offer excellent resistance to ultraviolet (UV) light and temperature.
PVC, in turn, requires plasticizers, such as dibutyl phthalate (DBP), diisononyl phthalate (DINP), dioctyl phthalate (DOP), and dioctyl terephthalate (DOTP), for softness.
The market was valued at $13,967.9 million in 2018, and it is projected to reach $16,700.6 million by 2024.The categories under the application segment of the plasticizers market are wires and cables; toys and child care products; automotive parts; films and sheets; medical equipment; flooring, roofing, and cladding; and others.
Till 2018, these products were largely used in the production of wires and cables for the automotive, electrical and electronics, and construction industries.
Large volumes of PVC are used in the production of wires and cables to offer these products optimum electrical insulation.
The global plasticizers market is projected to witness a healthy growth in the coming years, as reported by Transparency Market Research (TMR).
This is expected to work in the favor of new vendors entering the global plasticizers market in the coming years.
Maintaining high product quality, and development of eco-friendly products are other strategies likely to be adopted by market vendors in order to sustain in the global plasticizers market in the coming years.Key players operating in the global plasticizers market are LG Chem Ltd., BASF SE, UPC Technology Corp., ExxonMobil Corporation, and Eastman Chemical Company.As predicted by TMR analysts, the global plasticizers market, estimated to be worth US$14.85 bn in 2015 is expected to reach US$23.87 bn by 2024.
Geographically, the global plasticizers market is anticipated to be led by Asia Pacific, with a 6.10% CAGR.Bio-plasticizers to Offer Lucrative Growth OpportunityVarious regulatory authorities have underway efforts to promote products that are environmentally friendly and have led to an increase in the demand for bio-plasticizers in developed regions.
In turn, sales for end-user products such as automobiles, packaged food, electronics, personal care product, toys and others may increase.
This is expected to amplify demand in the global plasticizers market.Trend of Lightweight Vehicles to Drive MarketIn particular, consumers are increasing demand for PVC products in the automotive industry as a preference for lightweight vehicles and need for vehicles based on the new emissions standard It is anticipated that the trend to use plasticizers for car floors will continue in the next few years as well, which will benefit the industry's growth.
