Non-Phthalate Plasticizers Market Key Players Analysis - BASF SE, Eastman Chemical Company, ExxonMobil, Evonik Industries, DIC Corporation.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Non-Phthalate Plasticizers Market Size, Share & Trends Analysis Report By Type (Adipates, Trimellitates, Benzoates, Epoxies, and Others), Application (Flooring & Wall Coverings, Wires & Cables, Films & Sheets, Coated Fabrics, Consumer Goods)- Market Outlook And Industry Analysis 2031"

The global Non-Phthalate Plasticizers market is estimated to reach over USD 4.94 billion by 2031, exhibiting a CAGR of 4.7% during the forecast period.

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Bio-plasticizers are additives with a high level of safety and biodegradability, minor adverse effects compared to synthetic compounds, and low toxicity. Global production and consumption of bio-based materials are expected to rise due to rising demand in various end-use sectors. These eco-friendly polymers are frequently used to produce cables, plastic additives, and surface coatings for polymers.

Growing consumer awareness of the dangers of hazardous phthalates like dibutyl phthalate (DBP), benzyl butyl phthalate (BBP), dioctyl phthalate (DOP), and diethyl phthalate (DEP) in growing economies such as China and India is predicted to increase demand for bio-based plasticizers. It offers various advantages over traditional synthetic polymers in terms of temperature and electrical performance for making cables. These additives have low carbon footprints since they are made from renewable feedstocks such succinic acid, castor oil, epoxidized soybean oil (ESBO), citrates, and others.

List of Prominent Players in the Non-Phthalate Plasticizers Market:
• Avient Corporation
• BASF SE
• DIC Corporation,
• Eastman Chemical Company
• Emerald Performance Materials
• Evonik Industries AG
• ExxonMobil,
• Ferro Corporation
• Harman Corporation
• Henan GO Biotech Co.,Ltd
• Kaifeng Jiuhong Chemical Co., Ltd.
• Kao Corporation
• KLG Group,
• LANXESS
• LG Chem
• Mitsubishi Chemical Corporation
• Nan Ya Plastics Corporation
• Perstop Lanxess AG,
• Perstorp
• Polynt,
• UPC Technology Corporation
• Valtris Specialty Chemicals
• Velsicol Chemical LLC
• Zhejiangjiaao Enprotech Stock Co., Ltd

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Market Dynamics:
Drivers-
Concrete is strengthened and made more workable by bio-plasticizers, which also help to reduce the amount of water needed. They often contain organic compounds or mixtures of organic and inorganic compounds that help lower water content for workability. Around 0.1% to 0.4% of the cement's weight is added in plasticizers. This quantity results in an increase in workability from a 3-8 cm slump and reduces the water consumption by 5%-15%. In general, less than 2% of air is entrained by a plasticizer. At an 8% growth rate, the overall cost of new building in the United States increased from around USD 1,469 billion in 2020 to approximately USD 1,590 billion in 2021. Thus, the need for flooring and wall covering increased, which in turn raised the demand for the

Challenges:
There are some limitations and difficulties that will prevent the market from expanding. The cost of using non-phthalate plasticizers is higher than that of other conventional plasticizers, which is one of the main limiting issues. Moreover, factors like growing raw material costs, including an increase in the price of adipic acid, and a lack of knowledge about the drawbacks and negative effects of using phthalate plasticizers in many places may restrain the market's expansion to some amount during the anticipated period.

Regional Trends:
China took the lead in the Asia Pacific region, and it is expected to continue to expand rapidly going forward. It is projected that a high level of urbanisation and rapid industrialization will accelerate market growth nationwide. Additionally, the demand for products in the region is boosted by the increased use of bio-based packaging material products in developing nations like Taiwan, Japan, and India. The need for bio plasticizers and expanding construction activities are anticipated to drive regional market expansion. Bio-plasticizers are used in major industrial economies including India, China, Japan, and South Korea for chemical applications, household bleaching, and water treatment.

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Recent Developments:
• In November 2022, The reach of Evonik Industries is growing and becoming more centralised. In order to increase the reach of its products and services to customers effectively and efficiently, it introduced its first digital platform for plasticizers called "myFLEXINO".

Segmentation of Non-Phthalate Plasticizers Market-
By Type-
• Adipates
• Trimellitates
• Benzoates
• Epoxies
• Others
By Application-
• Flooring & Wall Coverings
• Wires & Cables
• Films & Sheets
• Coated Fabrics
• Consumer Goods
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.