“Implementation of stringent regulations pertaining to the use of phthalate plasticizers is a key factor expected to drive the growth of the Non-Phthalate Plasticizer Market”
The market size of non-phthalate plasticizer is estimated to reach USD 4.53 billion by 2031, at a CAGR of 8.7% from 2022 to 2031.
Implementation of stringent regulations pertaining to the use of phthalate plasticizers is a key factor expected to fuel the growth of the non-phthalate plasticizer market. Rising demand in different potential applications is expected to further drive the demand for non-phthalate plasticizers. However, rising prices of raw materials, such as adipic acid is a key challenge for the growth of the market. The use of a high-cost non-phthalate plasticizer will invariably increase the cost of the end products, which can lead to manufacturers switching to other materials over non-phthalates.
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“The flooring & wall coverings segment was the largest segment of non-phthalate plasticizer market in 2022”
The flooring & wall coverings segment was the largest application segment of non-phthalate plasticizer market in 2022, owing to the increasing use of non-phthalate plasticizers in the construction industry. 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.
“Rising demand from Asia-Pacific is a major driver for the growth of the non-phthalate plasticizer market”
Asia-Pacific is projected to be the fastest-growing market for non-phthalate plasticizers, in terms of both value and volume during the forecast period. China and South Korea are the two key markets for 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.
The break-up of primary interviews is given below.
• By Company Type: Tier 1 – 58%, Tier 2 – 25%, and Others – 17%
• By Designation: C level – 25%, Director level – 33%, and Others – 42%
• By Region: North America – 33%, Asia-Pacific – 25%, Europe – 17%, South America – 17%, Middle East – 8%
Key companies profiled in this market research report are 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).
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Research Coverage
The non-phthalate plasticizer market has been segmented based on type, application, and region. This report covers the market, in terms of value and volume, and forecasts its market size till 2031. The report includes the market segmentation based on type (adipates, trimellitates, epoxies, and benzoates), application (flooring & wall coverings, wire & cable, film & sheet, consumer goods, and coated fabric), and region (Asia-Pacific, Europe, North America, Middle East & Africa, and South America). The regions have been further segmented based on key countries in these regions. The report also provides company profiles and competitive strategies adopted by the key players in the non-phthalate plasticizer market.
Reasons to buy the report
The report will help the market leaders as well as new entrants in this market in the following ways:
• This report segments the non-phthalate plasticizer market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
• The report helps the stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
• This report will help stakeholders understand the competitors and gain more insights to improve their position in the business. The competitive landscape section includes new product developments, expansions, agreements, acquisitions, and joint ventures.
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
For more information, please contact:Lauren Brown
Shibuya Data Count
Email: sales@sdki.jp
Tel: + 81 50 50509159
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