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Emerging Opportunities in Eco-Friendly Plasticizers Market with Current Trends Analysis
Eco-friendly plasticizers are organic esters, which can be compounded into polymers to improve flexibility and toughness of the end product using internal modification of polymer morphology, and also to facilitate processing. They are typically inactive materials with high boiling points and low vapour pressure. Commercially, the flexible polyvinylchloride (PVC) application accounts for more than 3/4th of plasticizer consumption.
With advanced technological innovations, raw materials utilized in the construction industry have improved. Growing urbanization has set the pace in the construction industry, hence the market for eco-friendly plasticizers has also experienced a steady shift.
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Global Eco-friendly Plasticizers Market: Segmentation
The global eco-friendly plasticizers market can be segmented on the basis of raw materials and applications.
Based on raw materials, the global eco-friendly plasticizers market can be segmented into:
Di-isononyl phthalate (DINP)
Dipropyl heptyl phthalate (DPHP)
Dioctyl terephthalate (DOTP)
Based on applications, the global eco-friendly plasticizers market can be segmented into:
Flexible polyvinylchloride (PVC)
Others
Global Eco-friendly Plasticizers Market: Dynamics
Rising need for residential buildings to provide accommodation for ever increasing population is a matter of concern for any country’s construction industry. Amidst the escalating demand for plasticizers, there’s an increasing awareness towards the utilization of eco-friendly plasticizers which could eliminate the risk of harmful chemicals. Eco-friendly plasticizers are utilized in the construction sector to improve the fluidity and plasticity of concrete. Moreover, these plasticizers are utilized to reduce water content from slump. The aforementioned reasons are expected to propel the demand for eco-friendly plasticizers and thus, in turn drive the global eco-friendly plasticizers market.
On the other hand, the production cost of eco-friendly plasticizers is high as compared to that of traditionally used plasticizers, owing to increase in the scarcity of feedstock isononanol (INA), which is used in the manufacturing of di-isononyl phthalate (DINP). This is one of the major challenges faced by the manufacturers of eco-friendly plasticizers and thus, is restricting growth of the global eco-friendly plasticizers market.
Owing to the tough environmental requirements for plasticizers and their wide usage in the rubber manufacturing industry, eco-friendly plasticizers can be used in tyre blends that are obtained by propane deasphalting of solvent extracts.
A key trend identified in the global eco-friendly plasticizers market is the inclination of manufacturers towards eco-friendly plasticizers in the place of traditional plasticizers. Owing to the reason that the utilization of phthalate based plasticizers is either restricted or banned in some applications.
Global Eco-friendly Plasticizers Market: Region-Wise Outlook
On the basis of geography, the global eco-friendly plasticizers market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and, Middle East and Africa (MEA).Asia-Pacific is expected to hold the major market share in terms of value as well as volume. The global eco-friendly plasticizers market is expected to register substantial growth in India and China during the forecast period, owing to established end-use industries and rising demand in the construction sector. The demand for the eco-friendly plasticizers in APAC is expected to grow at a significant CAGR over the forecast period.
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Global Eco-friendly Plasticizers Market: Market Participants
Examples of some of the market participants in the eco-friendly plasticizersmarket identified across the value chain include BASF SE, REMEI Blomberg GmbH & Co. KG, Zhejiang Jiaao Enprotech Stock Co., Ltd., Eastman Chemical Company, Innua, EEGGTT Chemical, etc.
Manufacturers of plasticizers are now shifting towards the production of eco-friendly plasticizers in order to strengthen their market presence, and sustain in the market.
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