Plasticizers Market Size & Industry Analysis to 2023 by Eastman Chemical Company, BASF SE, E. I. du Pont de Nemours and Company, LANXESS, Hallstar, Exxon Mobil Corporation, Evonik Industries AG, Teknor, Aekyung Petrochemical, UPC Technology Corp

Industry Trend:

Implementing eco-friendly methods in the production and developing bio-based components have become Arkema’s intent for a while and it can be seen in their endeavor of launching soybean-based plasticizers that would assist the company in following government regulations.

Emerald Kalama Chemical, has added a new product Vitroflex B to their portfolio which is a product of their advanced technology to support environmental causes.

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Segmentation:

The Global Polymeric Plasticizer Market can be segmented by Application and End-Users.

By Application, the market can be sub-segmented into adhesive, pigment, films, membranes, cables, and others.

Based on End-Users, the market comprises paints, packaging, automotive, construction, electronics, and others.

Regional Segmentation:

Region-specific analysis of the global polymeric plasticizer market covers North America, Europe, Asia Pacific (APAC), Latin America (LATAM), and the Middle East & Africa (MEA).

The APAC is the largest consumer of the said market and also generates the maximum revenue. This can be attributed to the presence of emerging economies such as India, China, Taiwan, and South Korea that are experiencing a large-scale boost in diverse industries which are creating substantial demand for the product. The packaging industry is also getting much traction owing to which the Polymeric Plasticizer Market is gaining pace.

North America, is the second largest market and is fetching impressive revenue owing to its burgeoning automotive, electrical, and other industries. The market is poised to experience further growth during the forecast period. The European market follows the former closely with heavy demand being generated by paints, packaging, and construction industries. The LATAM and the MEA market progress report is based on increasing orders from sectors such as adhesive, pigment, films, membranes, cables, and others.

Market Competition:

The market is densely packed with several key players locked in a competitive struggle. Companies are mainly focusing on expansion, collaboration, merger, and acquisition to better their portfolios. For instance, Arkema invested in a new factory in Mobile, Alabama for its Kepstan PEKK(polyetherketoneketone) copolymer. Evonik, on the other hand, is aiming at expansion via acquisition and bought the additive segment of the U.S. company Air Products.

Key players of the Global Polymeric Plasticizer Market to wield influence are Eastman Chemical Company (US), Hallstar (US), E. I. du Pont de Nemours and Company (US), BASF SE (Germany), LANXESS (Germany), Evonik Industries AG (Germany), Exxon Mobil Corporation (US), Teknor (US), UPC Technology Corp (Taiwan), Aekyung Petrochemical Co., Ltd. (South Korea), and others.

Overview:

Various end-user industries are now looking for component dynamisms which can cover a lot of needs in one go. Polymeric Plasticizers are providing the same impact and have captured the attention of several sectors that are subsequently boosting the market growth of the Polymeric Plasticizer. The component is mainly used in PVCs to increase softness, flexibility, and lower modulus values. Its utility in applications spans across adhesive, pigment, films, membranes, cables, and other segments. But the most to impact the market and drive it forward is the packaging industry which promises a sizable growth of the polymeric plasticizer market during the forecast period (2016-2023). Market Research Future’s (MRFR) report on the said component brings in a holistic approach to have a precise prediction of the forthcoming years.

However, the market is witnessing an uphill task against stringent regulations that are being imposed by various governments such as bans on some of the phthalates and toxicity of PVC which can put a leash on the market growth. But a long-lasting impact is not on the card as the market is developing various bio-based components that can take on the initial setback.

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