Non-Phthalate Plasticizer Market overview:
The Non-phthalate plasticizer market is expected to reach 3.412.2 million by the end of 2030.
The report also discusses various factors that can promote growth in the coming years. Growing concerns for the environment would impact the growth of the market considerably. It would also get tailwinds from end users like the automotive segment. Hike in healthcare-related investment is expected to widen the scope for the market to operate. In various countries, rapid urbanization is triggering growth in the construction activities, which would again trigger the uptake of Non-phthalate Plasticizer. These factors would ensure this market profits more in the coming years.
Segmentation:
The global Non-phthalate Plasticizer Market has been segmented in the report on the basis of type, application, and end user. This analysis holds a much-detailed look into the opportunities that the industry holds and the companies taking part can explore to increase their profit margin.
By type, the global report on the Non-phthalate Plasticizer market can be segmented into benzoates, adipates, epoxies, trimellitates, citrates, terephthalates, and others. The Adipates accounted for dominates the market and can reach a valuation of USD 1,050.9 million by 2023. The trimellitates segment could register the fastest CAGR during the said period.
By application, the report containing details of the Non-phthalate Plasticizer market film & sheets, flooring & wall coverings, sealants & caulks, coated fabrics, wires & cables, adhesives, toys & childcare articles, and others. The flooring & wall covering segment would record a 7.29% CAGR during the forecast period.
By end user, the Non-phthalate Plasticizer market can be segmented into automotive, food & beverage, building & construction, sports & leisure, healthcare, consumer goods, and others. The building & construction segment would lead the global market in the coming years.
Regional Analysis:
The APAC region had the maximum market coverage and it is growing every year with the projected spike from various end user industries like construction, automotive, food & beverage, and others. In the automotive segment, this growth would be backed by strict regulations. The regional market is showing ample growth opportunities in moving forward with 7.58% CAGR during the forecast period. This market is experiencing conducive regulations in countries like India, Malaysia, China, and South Korea.
North America and Europe stand to gain notably from this market as end users are well-formed in both these regions and they trigger substantial market valuation. Both these regions benefit from the presence of a huge number of companies that ensure a high intake of the product. In the Middle East & Africa, this growth would be meager as the lack of industrial setup and the presence of poor economies are slated to intake capacity.
Competitive Landscape:
Various companies are introducing strategies to ensure that the market for Non-phthalate Plasticizer gets ample reasons to grow. These companies are Grupa Azoty, NAN YA PLASTICS CORPORATION, BASF SE, Valtris Specialty Chemicals, Velsicol Chemical LLC, DIC CORPORATION, Eastman Chemical Company, LG Chem Ltd., Evonik Industries AG, LANXESS AG, and others. Their steps include mergers, acquisitions, collaborations, hike in investment for research and development projects, and others.
Industry News:
In December 2019, Brenntag released a new list of their product offerings which included a plasticizer like Oxoviflex (DOTP/DEHT). Oxoviflex is a Non-phthalate Plasticizer that displays a high purity level. This is also label-free and has been allowed in Europe to be used in situations that allow indirect food contact.
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