Stratview Research has published a new report titled “Non-phthalate Plasticizers Market” which is segmented by Type (Adipates, Trimellitates, Benzoates, Epoxies, and Others), by Application Type (Flooring & Wall coverings, Wires & Cables, Films & Sheets, Coated Fabrics, Consumer Goods, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the market is expected to grow from USD 3.55 Billion in 2022 to USD 4.63 Billion by 2028 at a healthy CAGR of 4.52% during the forecast period of 2023-2028.
The prime factor that is contributing to the demand for non-phthalate plasticizers is mainly the increasing usage of composite fabrics in various industrial applications, such as automotive and wires & cables.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It thoroughly analyzes the market segments, including products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
By Type
Based on the type, the market is segmented as adipates, trimellitates, benzoates, epoxies, and others. The adipates segment held the largest share of the market in 2022, and is expected to remain dominant during the forecast period, whereas trimellitates is the fastest-growing non-phthalate plasticizers type owing to its high-temperature performance properties. Owing to adipates light-color, oily liquid it is used to plasticize PVC which is driving the growth of this segment.
By Application Type
Based on the application type, the non-phthalate plasticizers market is segmented as flooring & wall coverings, wires & cables, films & sheets, coated fabrics, consumer goods, and others. The flooring & wall coverings industry segment dominates the market. Further, readily soluble in polyvinyl chloride, lower density when compared to other plasticizers are the other properties propelling the growth of non-phthalate plasticizers during the forecast period.
Which Region is expected to remain the largest market?
By Region
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for non-phthalate plasticizers during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as flooring & wall coverings, wires & cables, films & sheets, coated fabrics, consumer goods, and others, which is generating huge demand for non-phthalate plasticizers and the presence of a large number of non-phthalate plasticizer manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, enabling strategic decision-making for the existing market players and those willing to enter the market.
The following are the key players acting in the Non-phthalate Plasticizers Market:
- BASF SE
- DIC Corporation
- Eastman Chemical Company
- Exxonmobil Corporation
- Evonik Industries
- KLJ Group
- Lanxess AG
- LG Chem Ltd.
- Mitsubishi Chemical Corporation
- UPC Technology Corporation.
Key questions answered by the report.
- What is the projected CAGR for revenue from the Non-phthalate Plasticizers market during the forecast period?
- What would the market be valued at by 2028?
- What is a major driving factor for the growth of the market?
- Which region accounted for the largest revenue share in the Non-phthalate Plasticizers market?
- Which are the major market players?
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