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Demand for Plasticisers Market to be Fuelled by Rapid Shift in Consumer Perception and Increasing Awareness
Persistence Market Research (PMR)
Plasticisers Market: Drivers & Restraints
Bio-based plasticisers are produced from vegetable raw materials and are used as an alternative of petroleum based plasticisers. In order to assure sustainability, end users are looking for safe, bio-degradable and non-phthalate-based plasticisers. Decreasing supply of harmful phthalate and increasing consumer awareness are factors limiting growth of the global market. At the same time, ban on phthalate-based plasticizers in consumer goods, food packaging material and medical products have led to the development of eco-friendly bio-based plasticizers. Higher cost of bio-plasticizers as compared to phthalate-based plasticizers is a key challenge faced by the bio-plasticizers market players.
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Plasticisers Market: Segmentation
The global plasticisers market is classified on the basis of end use, product type and region.
Based on application, the global plasticisers market is segmented into the following:
Automotive
Cables & Wires
Flooring, Roofing & Cladding
Coated Fabrics
Film & Sheet
Packaging
Healthcare & Personal Care
Others (Toys, Tubes & Hoses and Inks & Waxes)
Based on product type, the global plasticisers market is segmented into the following:
Dicarboxylic/tricarboxylic Ester-based Plasticizers
Trimellitates
Adipates, Sebacates & Maleates
Bio-based Plasticizers
Plasticizers for Energetic Materials
Other Plasticizers
Plasticisers Market: Overview
Plasticisers are the most commonly used additives in the global plastic market. The global plasticiser market exceeded 8 Mn metric tons by 2014 end. The most dominant application areas of plasticisers are plastics and polyvinyl chloride (PVC). Efforts are in progress by different regulatory authorities to promote environmental friendly products which have led to an increase in the demand for bio-plasticizers in developed regions. Phthalate-based plasticizer was prominent and represented more than 75% share in the global plasticisers market. However, stringent government regulations and increasing health concerns of the consumers, stimulated the demand for bio-plasticisers which is currently a significant trend in the market.
Plasticisers Market: Region wise Overview
Geographically, global plasticisers market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, Middle East and Africa (MEA). By 2015 end, North America held the largest share in the global market due expanding application in flourishing industries of healthcare, chemicals and packaging. Europe all together is an established market due to stable growth in manufacturing and healthcare industry. In Western Europe countries, around 1 Mn tons of phthalates are produced annually, out of which approximately 0.9 Mn tons of phthalates are used to plasticize PVC. Overall, Western Europe, APEJ and North America are projected to hold more than 75% share in the global plasticiser market.
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Plasticisers Market: Key Players
The key research institutes in global plasticisers market are Eastman Chemical Company, BASF SE, Sigma-Aldrich Co. LLC, Perstorp Holding AB, Exxon Mobil Corporation, PolyOne, Supreme Plasticizers, Vertellus Specialties Inc., KLJ Group to name a few.
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