PUNE, India, June 30, 2017 /PRNewswire/ --
The report "Non-Phthalate Plasticizer Market by Type (Adipates, Trimellitates, Epoxies, Benzoates), Application (Flooring & Wall Coverings, Wire & Cable, Film & Sheet, Consumer Goods, Coated Fabric), and Region - Global Forecasts to 2022", published by MarketsandMarkets™, the market size of non-phthalate plasticizers is estimated to grow from USD 1.55 Billion in 2017 to USD 4.53 Billion by 2022, at a CAGR of 8.7% from 2017 to 2022.
Browse 84 market data tables and 30 figures spread through 142 pages and in-depth TOC on "Non-Phthalate Plasticizer Market - Global Forecasts to 2022"
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The market is driven by the growing building & construction industry and the rising adoption of non-phthalate plasticizers in various applications in diverse industries across the globe. Stringent environmental regulations pertaining to the use of phthalate plasticizers are expected to further support the growth of the market.
Based on type, the adipates esters segment is expected to witness the highest growth during the forecast period
The adipates esters segment is expected to witness the highest growth during the forecast period. These non-phthalate plasticizers are widely used across various industries, due to their superior performance and characteristics at an affordable price. Other benefits of adipates esters include UV and low temperature resistance, and compatibility with other plasticizers.
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The flooring & wall coverings application segment was the largest segment of the market in 2016
The flooring & wall covering segment was the largest application segment of the Non-Phthalate Plasticizer Market in 2016. Non-phthalate plasticizers are used in the flooring application, as they can withstand heavy foot traffic such as in retail stores and repeated cleaning such as healthcare facilities. Non-phthalate plasticizers-based wall coverings are durable and are easy to maintain. This has led to an increasing use of these plasticizers in commercial as well as residential constructions.
Asia-Pacific was the largest market for non-phthalate plasticizers in 2016
Asia-Pacific was the largest market for non-phthalate plasticizers, in terms of volume, in 2016. China is a key consumer of non-phthalate plasticizers in Asia-Pacific. Increasing construction activities and a growing electronics industry are expected to support the growth of the non-phthalate plasticizers in the flooring & wall coverings and wire & cable applications in the country. Various mergers & acquisitions, new product launches, and expansions in various end-use industries are expected to offer high growth opportunities for the Non-Phthalate Plasticizer Market in China in the coming years.
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Eastman Chemical Company (U.S.), BASF SE (Germany), Exxon Mobil Corporation(U.S.), UPC Technology Corporation (Taiwan), Evonik Industries AG ( Germany), LG Chem Ltd. (South Korea), DIC Corporation (Japan), and Nan Ya Plastics Corporation (Taiwan) are some of the key players in the Non-Phthalate Plasticizer Market.
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