Persistence Market Research delivers vital insights on the global Non-PVC Plasticizers market in its latest report titled ‘Non-PVC Plasticizers market: Global Industry Analysis 2013–2017 and Forecast, 2018–2026’.The overall market of Non-PVC Plasticizers remains progressive with the market value likely to grow at a value CAGR of 3.9% over the forecast period (2018–2026).
Amongst the product types of Non-PVC Plasticizers, the benzoates segment is expected to register significant CAGR, in terms of value, over the forecast period. Amongst application segments of Non-PVC Plasticizers, the medical products segment is expected to gain substantial revenue share after witnessing significant CAGR, in terms of value, by 2026.
Rising healthcare spending, increasing R&D infrastructure, new product development for niche applications and penetration of new chemicals and solutions for the fabrication of medical products are some of the key factors creating demand space for Non-PVC Plasticizers.
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The global market for Non-PVC Plasticizers is estimated to create substantial incremental $ opportunity of US$ 414.3 Mn by the end of 2026. China is moving forward and will capture the top position in terms of both value & volume in the global plasticizer for non-PVC application market by 2018 end and is predicted to sustain its position during the forecast period in the Non-PVC Plasticizers market. Rapid expansion in healthcare, pharmaceutical & personal care industries are the key factors responsible for increased penetration of Non-PVC Plasticizers.
The Non-PVC Plasticizers market is pegged to record notable advancements in the coming years, particularly in China, North America, and Europe & South East Asia. Rubber, adhesive & sealants, healthcare, personal care and paints & coatings are the key end users in terms of non-PVC applications. Their expansion in near future will fuel the growth of the global Non-PVC Plasticizers market during the forecast period.
However, the global Non-PVC Plasticizers market will face certain hurdles. Phthalates are majorly used Non-PVC Plasticizers (phthalates occupy ~around 57% share in Non-PVC Plasticizers) in numerous applications. While phthalates offer several advantages, they also have certain negative effects on the environment as well as human health. Attributing to this, stringent regulations will restrict their use in various applications.
Vendor Insights
The report highlights some of the top companies operating in the global Non-PVC Plasticizers market, such as BASF SE, ExxonMobil Corporation, Eastman Chemical Company, LG Chem Ltd., Evonik Industries AG, Nan Ya Plastics Corporation, Ferro Corporation, Arkema Group, UPC Group, and Teknor Apex, Hanwha Chemical Co., Ltd. and others.
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Major manufacturers are intensely working to introduce novel Non-PVC Plasticizers that fulfil all international regulations and certifications in order to enhance their presence in the Non-PVC Plasticizers market. These manufacturers are also focusing on increasing their end user base in Asia Pacific, which has led to a substantial surge in the consumption of Non-PVC Plasticizers. Participants have also been involved in emerging business model activities, such as mergers and acquisitions, to expand their market reach and cement their position in different regions.
Segmentation Analysis
On the basis of product type, despite witnessing moderate growth, the phthalate segment is anticipated to dominate the Non-PVC Plasticizers market over the forecast period
On the basis of sub-segments, HMW Phthalates captures almost one-fourth of the overall market share by value. HMW phthalates & LMW phthalates are the vital choices for numerous industrial applications in Non-PVC Plasticizers market owing to their better properties. For example, they impart flexibility & durability to the final product
On the basis of application, Non-PVC Plasticizers are gaining considerable adoption in the medical products market, such as in gloves, bags and tubing. The segment is expected to expand and become 1.4X over the forecast period in the Non-PVC Plasticizers market. Tubing is expected to create maximum incremental $ opportunity by 2026
Regional Analysis
China & South East Asia Pacific, cumulatively, captured close to 43 % revenue share in the global Non-PVC Plasticizers market by the end of 2017. The US & Europe are the key regions having substantial production base for the synthesis of plastic products and thus, these regions are predicted to generate substantial growth opportunities in the global Non-PVC Plasticizers market.
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