According to the new market research report “Non-phthalate Plasticizers Market by Type (Adipates, Trimellitates, Benzoates, Epoxies, and Others), Application (Flooring & Wall Coverings, Wires & Cables, Films & Sheets, Coated Fabrics, Consumer Goods), and Region – Global Forecast to 2025″, The non-phthalate plasticizers market is projected to grow from USD 3.1 billion in 2020 to USD 3.9 billion by 2025, at a CAGR of 4.6%.
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The demand for non-phthalate plasticizers in emerging economies, such as APAC and South America, is increasing owing to the growing construction industry. The higher price of non-phthalate plasticizers than phthalate plasticizers is hindering the growth of the non-phthalate plasticizers market. The demand for non-phthalate plasticizers is increasing, owing to their non-toxic properties. This increase in demand for bio-based plasticizers provides growth opportunities to the market. On the other hand, poor performance and incompatibility of few non-phthalate plasticizers with polymers are the major challenges for the market.
Flooring & wall coverings is one of the largest applications of non-phthalate plasticizers used in flexible PVC. According to the American Chemistry Council, flexible PVC is the second-most commonly used plastic material and is mainly used in the flooring & wall coverings application in the construction industry. The low volatility and high extraction resistance properties of non-phthalate plasticizers are driving its demand in this application.
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The non-phthalate plasticizers market size is projected to reach USD 3.9 billion by 2025 at a CAGR of 4.6% from 2020. The demand for non-phthalate plasticizers is increasing, owing to the stringent regulations on phthalate plasticizers and the growing awareness about the harmful effects over the use of phthalate plasticizers.
The increase in demand for non-phthalate plasticizers and the growing construction industry in the emerging economies, such as APAC and South America, are driving the market. The key players in the non-phthalate plasticizers market include BASF (Germany), Eastman Chemical Company (US), ExxonMobil (US), Evonik Industries (Germany), DIC Corporation (Japan), Perstorp (Sweden), Lanxess AG (Germany), KLJ Group (India), Polynt (Italy), and Mitsubishi Chemical Corporation (Japan). The non-phthalate plasticizers market report analyzes the key growth strategies, such as expansion and new product launch, adopted by the leading market players between 2014 and 2020.
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BASF SE (Germany) is among the key players in the non-phthalate plasticizers market. The company adopted the strategies of new product launch and expansion to strengthen its competitiveness in the global non-phthalate plasticizers market. For instance, in May 2014, BASF doubled the capacity production of Hexamoll DINCH to 200,000 metric tons per year at its site in Ludwigshafen, Germany. The company expanded the production capacity by establishing a new Hexamoll DINCH plant. The expansion of production capacity will help the company to meet the growing customer demand for food packaging, medical devices, and toys.
Perstorp (Sweden) is one of the leading manufacturers of non-phthalate plasticizers. The company adopted new product launch as one of its key business strategies. For instance, in September 2019, Perstorp introduced a renewable polyol ester (non-phthalate) plasticizer, Pevalen Pro. It has various properties, such as good plasticizing efficiency, faster processing, low volatility, high UV stability, and long-life performance. It offers a higher level of renewable content and is used for applications, such as coated fabrics, artificial leather, flooring, wall covering, automotive interiors, and sports & leisure products.
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