Non-Phthalate Plasticizers Market is Forecast to Reach USD 5.97 Billion by 2027 | LG Chem Ltd, BASF SE, LANXESS, Eastman Chemical Company

The Global Non-Phthalate Plasticizers market is forecast to reach USD 5.97 Billion by 2027, according to a new report by Reports and Data. There has been an elevating awareness about the safety and environmental concerns associated with the use of traditional plasticizers. It has resulted in paving the path for the expansion of non-phthalate plasticizer market. These plasticizers have wide product ranges which can effectively cater to the diverse needs of various end-applications that is also contributing to the growth of the market. It is effective in fast-fusing or general-purpose plasticizers. 

In regards to the region, North America held 26.0% of the market in 2018, with a CAGR of 6.1% during the forecast period. The market share held by the region is attributed to the stringent government regulations associated with the use of traditional phthalate plasticizers and high demand for PVC products in commercial and residential applications, which is boosting the market growth in this region.

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The report includes the latest coverage of the impact of COVID-19 on the Non-Phthalate Plasticizers industry. The incidence has affected nearly every aspect of the business domain. This study evaluates the current scenario and predicts future outcomes of the pandemic on the global economy.

In market segmentation by manufacturers, the report covers the following companies-

LG Chem Ltd, BASF SE, LANXESS, Eastman Chemical Company, NAN YA PLASTICS CORPORATION, Grupa Azoty, Evonik Industries AG, DIC CORPORATION, Valtris Specialty Chemicals, Velsicol Chemical LLC and Perstorp.

For the purpose of this report, Reports and Data have segmented the global Non-Phthalate Plasticizers market according to Type, Application, End-user, and Region:

Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)

Trimellitates
Adipates
Benzoates
Epoxies
Others

End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)

Automotive
Building and construction
Healthcare
Food & beverage
Sports and leisure
Consumer goods
Others

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Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)

Wire & Cable
Flooring & Wall Coverings
Consumer Goods
Film & Sheet
Coated Fabric
Adhesives, sealants and caulks
Others

By Region Outlook (Revenue, USD Million; 2018-2026)

North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)

Further key findings from the report suggest

-The Non-Phthalate Plasticizers market held a market share of USD 3.32 Billion in the year 2018 that is forecasted to grow at a rate of 6.5% during the forecast period.

-In context to Type, the Trimellitates segment is projected to witness the fastest growth rate of 7.3% during the forecast period, which is expected to hold, 17.3% of the market by 2027. The growth rate witnessed by the Trimellitates segment is attributed to its low volatility, ease of blending with highest-molecular-weight phthalates, high performance, and enhanced chemical properties as compared to other plasticizers. The mentioned traits have resulted in its extensive application in electrical cable insulation, food packaging, and construction materials, among others, contributing to the growth rate witnessed by this segment.

-In context to Application, the Flooring & Wall Coverings segment held the largest market share of more than 30.0% in 2018, with a significant growth rate of 6.5% during the forecast period. The high durability of these plasticizers and its ease of maintenance have resulted in its wide application in flooring & wall coverings of residential as well as commercial constructions wherein it can survive foot traffic in commercial buildings like in shopping malls…Continued 

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The Non-Phthalate Plasticizers Market report addresses the following questions:

-What is the regulatory framework governing the application of Non-Phthalate Plasticizers in the food industry?

-What is the estimated growth rate of Non-Phthalate Plasticizers for the forecast period from 2020 to 2026?

-Which end-use industry is expected to have the highest demand for Non-Phthalate Plasticizers by the year 2026?

-Which manufacturing processes are utilized for the production of Non-Phthalate Plasticizers?

-Which are the leading regions for Non-Phthalate Plasticizers Market players that are aiming to expand their product portfolio?

In conclusion, the Non-Phthalate Plasticizers Market report is a reliable source for accessing the Market data that will exponentially accelerate your business. The report provides the principal locale, economic scenarios with the item value, benefit, supply, limit, generation, request, Market development rate, and figure and so on. Besides, the report presents a new task SWOT analysis, speculation attainability investigation, and venture return investigation.

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