ALBANY, New York, March 14, 2017 /PRNewswire/ --
Transparency Market Research has published a new market report titled "Plasticizers Market - Global Industry Analysis Size Share Growth Trends and Forecast 2016-2024". According to the report, the plasticizers market was valued at US$ 14.85 Bn in 2015 and is anticipated to reach US$ 23.87 Bn by 2024, expanding at a CAGR of 5.5% between 2016 and 2024.
Plasticizers are plastic additives which help soften the material to make it bendable and flexible. Plasticizers are primarily used in the production of polyvinyl chloride (PVC) products. Plasticizers are produced in various types such as phthalates, non-phthalates, aliphates, polymeric and others. Of all these types, phthalates find the most applications in PVC product manufacturing followed by non-phthalates. The major end use applications of plasticizers are in housing and construction, electrical & electronic and automobile industries.
Application segment for plasticizers market is divided into types such as floor walls and coverings, wires & cables, consumer goods, films & sheets, and other applications. In 2015, floor walls and coverings accounted for significant market share for plasticizers market. The increasing demand for floor walls & coverings in housing & furnishing, and construction industry is expected to experience a high growth for plasticizers market for the forecast period. The booming construction industry in the developing countries is expected to boost the demand for plasticizers market in the forecast period especially in the Asia-Pacific region. Wires & cables segment also accounted for a considerable market share for the plasticizers market in 2015.
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This segment has extensive applications in the electric & electronics industry. The significant development of this industry has triggered the demand for wires & cables in recent years which in turn propelled the growth of the plasticizers market. Films & sheets segment, and consumer goods segment which includes cosmetics, inks & waxes and, sports equipment are also expected to expand at a gradual pace during the forecast period. Other applications of plasticizers include healthcare & medical applications such as manufacturing of gloves, syringes, blood bags, heart valves, prosthetics, and artificial joints. Plasticizers also finds applications in automobile industries in manufacturing of products such as PVC covers for airbags and dashboards, also in manufacturing of car interiors leather polish.
Globally Asia Pacific accounts for the significant market share in the global market followed by Europe and North America. Plasticizers market in developed countries of Europe & North America is expected to experience sluggish growth for the forecast period due to these markets being reached a mature state with limited opportunities for. Asia-Pacific has a large consumer base besides having a host of developing end-use industries such as housing and construction, electric & electronics, automotive, and medical.
Major players operating in the plasticizers market include BASF SE, ExxonMobil Corporation, Eastman Chemical Company, Evonik Industries, LG Chem Ltd., Arkema Inc., Ferro Corporation, UPC Technology Corp., Nan Ya Plastics Corp., Aekyung Petrochemical Co., Ltd. among others.
This report segments the global plasticizers market as follows:
- Plasticizers Market - Product Analysis
- Plasticizers Market - Application Analysis
- Wires & Cables
- Floor Walls & Coverings
- Consumer Goods
- Films & Sheets
- Other Applications
- Plasticizers Market - Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Japan & Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
- North America
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