Research Nester has released a report titled “Plasticizers Market – Global Demand Analysis & Opportunity Outlook 2028″ which delivers detailed overview of the global plasticizers market in terms of market segmentation by type, application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global plasticizers market is segmented by application into film & sheet coverings, flooring & wall, wires & cables, coated fabrics, consumer goods and others, out of which, the consumer goods segment is anticipated to hold the largest market share owing to the growing consumption of consumer goods backed by the increasing population worldwide, along with their increasing disposable income of individuals worldwide, that is influencing the greater consumption of consumer goods.
The global plasticizers market is anticipated to achieve a CAGR of around 4% during the forecast period, i.e. 2021-2028. Growing application of different type of plastics in different end use products across different industry verticals, along with the growing trade of plastics and the articles thereof are some of the factors anticipated to promote towards the growth of the global plasticizers market. In the statistics by the International Trade Centre (ITC), exports of plastics and articles thereof peaked to USD 657646607 thousand in the year 2018from USD 483270860 thousand in the year 2010.
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Regionally, the global plasticizers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, the market Asia Pacific is anticipated to grow with the highest CAGR owing to the presence of several manufacturing industries that uses plastics in nations such as China and India. On the other hand, growing construction and automotive industries in the nations of North America and Europe are anticipated to drive the growth of the market in those regions.
Growing Demand for Flexible PVC in End User Industries
Flexible PVC plastics are used in the recent era for the manufacturing of several goods, such as PVC pipes, adhesive films, extruded wires, flooring, napkins, and several others. These products cannot be manufactured using rigid plastic. Plasticizers are used to soften the rigid plastic, which is later known as flexible PVC. The increasing demand for flexible PVC for utilization in the manufacturing of different type of goods across several end user industries, coupled with the growing demand for eco-friendly plasticizers are some of the factors anticipated to drive the growth of the global plasticizers market over the forecast period.
However, concerns for the stringent governmental norms for the use of phthalate plasticizer, as it is known to severely effect human health and the environment, are some of the factors anticipated to restrict the growth of the global plasticizers market.
This report also provides the existing competitive scenario of some of the key players of the global plasticizers market, which includes company profiling of Exxon Mobil Corporation (NYSE: XOM), Eastman Chemical Company (NYSE: EMN), Arkema S.A. (EPA: AKE), BASF SE (ETR: BAS), The Dow Chemical Company, Daelim Industrial Co. Ltd. (KRX: 000210), LG Chem Ltd. (KRX: 051910), Evonik Industries AG (ETR: EVK), INEOS Capital Limited and UPC Group (TPE: 1313).
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global plasticizers market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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