The Global Specialty Plasticizers Market is eyeing for a moderate 3% CAGR during the forecast period (2016-2022) and can exceed a valuation of USD 18,594.07 million by the end of 2022. The recent report, as published by Market research Future (MRFR), highlights segmental analysis and factors that can impact the market in the foreseeable future. At the same time, the report has included expert opinions for a better understanding of the market.
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With urbanization gaining pace, the construction sector is bound to look for products that can last long to curb the maintenance cost. Increasing residential and commercial projects across the globe is further strengthening the claim. In addition, if concretes get blended with specialty plasticizers, it can provide additional structural benefits and is highly prized. PVC, on the other hand, has a substantial claim in the plastic polymer market and applications such as pipes, sins, clothing, healthcare, and others it has wider prospect which subsequently, channels a demand for the specialty plasticizers market. However, specialty plasticizers market has a limited operational scope in developed countries as stringent regulatory norms have bottlenecked its growth.
The global specialty plasticizer market has segments such as type and application in the report for a holistic understanding of the market.
Based on the type, the specialty plasticizer market includes phthalates, trimellitates, aliphatic dibasic esters, polymeric, phosphates epoxides, and others. PVC segment is generating huge demand for the non-phthalates which can give the market a significant rise.
Based on application, the specialty plasticizer market can be segmented into consumer goods, flooring & wall coverings, coated fabric, film & sheet, wire & cable, and others. Its toxic nature can prevent its growth in consumer goods segment. But the market can regain its composure as the construction sector is burgeoning.
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In 2018, Emery Oleochemicals, a company known for their naturally sourced chemical productions, came up with EDENOL, bio-based specialty plasticizer. The component contains azelaic acid and offers features that can improve the performance of both plastic and synthetic rubbers.
The APAC has the maximum share of the market as the region is flourishing owing to the economic revamping of several countries. These countries are focusing mainly on construction and industrial sectors where the specialty plasticizers market is finding ample scope for exploration. China’s market is the largest one followed by Japan. India is not lagging. The region, along with Taiwan and South Korea, is certainly making an impact to maintain the dominance of the regional market.
North America and Europe have some limitations regarding the usage of specialty plasticizers because of its toxicity. But it is still getting traction from the construction sector. In addition, the regions are spending a substantial amount to find an alternative which can boost the market.
Players to impact the specialty plasticizer market are BASF SE (Germany), Nan Ya Plastics Corporation (Taiwan), Eastman Chemical Company (US), Evonik Industries AG(Germany), UPC Group (Taiwan), Struktol Company of America (US), Shandong Qilu Plasticizers Co. LTD (China), Aekyung Petrochemical Co. LTD (South Korea), ExxonMobil Corporation (US), Lg Chem LTD. (South Korea), and others.
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