Non-Phthalate Plasticizers Market to Witness Steady Expansion as Bio-Based Solutions Gain Traction Across Various Applications Including Wires, Cables, and Coated Fabrics

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 characterized by their high safety, biodegradability, and low toxicity, with fewer adverse effects compared to synthetic alternatives. The global production and consumption of bio-based materials are projected to increase due to rising demand across various end-use industries. These environmentally friendly polymers are commonly utilized in the manufacturing of cables, plastic additives, and surface coatings for polymers.

The growing consumer awareness of the harmful effects of phthalates, such as dibutyl phthalate (DBP), benzyl butyl phthalate (BBP), dioctyl phthalate (DOP), and diethyl phthalate (DEP), particularly in emerging markets like China and India, is expected to drive the demand for bio-based plasticizers. These bio-plasticizers offer several advantages over traditional synthetic polymers, particularly in terms of temperature resistance and electrical performance in cable manufacturing. Additionally, their production from renewable feedstocks, including succinic acid, castor oil, epoxidized soybean oil (ESBO), and citrates, results in a lower carbon footprint, further enhancing their appeal in the market.

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:
Bio-plasticizers enhance the strength and workability of concrete, while also reducing water requirements. These additives typically consist of organic compounds or a combination of organic and inorganic materials that reduce water content, improving the workability of the mixture. Typically, 0.1% to 0.4% of the cement's weight is added in plasticizers, which results in increased workability (from a 3-8 cm slump) and a reduction in water consumption by 5% to 15%. In general, less than 2% of air is entrained by the plasticizer. The overall cost of new construction in the United States saw a rise of approximately USD 1,469 billion in 2020 to USD 1,590 billion in 2021, reflecting an 8% growth rate. This increase in building costs contributed to a heightened demand for flooring and wall covering materials, further driving the need for bio-plasticizers.

Challenges:
Despite the advantages, several challenges could hinder the market's growth. One significant limitation is the higher cost of non-phthalate plasticizers compared to conventional alternatives. Additionally, the rising costs of raw materials, including adipic acid, and the limited awareness regarding the negative effects of phthalate plasticizers in certain regions may restrain market expansion during the forecast period.

Regional Trends:
China is currently leading the market in the Asia-Pacific region and is expected to continue its rapid growth. The high levels of urbanization and industrialization are anticipated to further accelerate market expansion in the country. Furthermore, the demand for bio-based packaging materials is increasing in emerging markets such as Taiwan, Japan, and India, boosting the adoption of bio-plasticizers. The expanding construction sector, combined with the growing use of bio-plasticizers in chemical applications, household bleaching, and water treatment across major industrial economies like India, China, Japan, and South Korea, is expected to propel regional market growth.

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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.