Plasticizers Market Size will Grow Profitably in the Near Future

The global plasticizers market is highly competitive and moderately fragmented, states a research report by Transparency Market Research (TMR). Top players in this market, namely, Exxon Mobil, Evonik Industries, BASF SE, LG Chem Ltd., and Eastman Chemical Co., together, held a share of more than 45% in this market in 2015.

The leading players are focusing on technological developments to produce a variety of plasticizer products with world-class quality in a bid to strengthen their foothold on the market. This, as a result, is likely to intensify the competition within this market over the next few years, reports the study.

View Report Preview: https://www.transparencymarketresearch.com/global-plasticizers-market.html

According to TMR, the global market for plasticizers, which was worth US$14.85 bn in 2015, is likely to swell at a CAGR of 5.50% during the period from 2016 to 2024 and attain a value of US$23.87 bn by the end of the forecast period. In terms of production volume, the market is anticipated to touch 12,109.0 kilo tons by 2024. Plasticizers have found significant application in floor walls and coverings, much higher than other applications. Analysts expect the scenario to remain unchanged over the forthcoming years.

Ongoing Infrastructural Advancements to Ensure Asia Pacific’s Lead

The research report, further, provides a comprehensive assessment of the geographical spread of the worldwide market for plasticizers. As per the study, Asia Pacific, Latin America, North America, Europe, and the Middle East and Africa are the key regional markets for plasticizers across the world. Among these, Asia Pacific has acquired the dominant position in this market, thanks to the accelerating usage of PVC products in the housing and construction, automotive, electric and electronics, and the medical and healthcare sectors in this region.

Request to view Sample Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=753

The lead of this regional market is likely to continue during the forecast period, expanding at a CAGR of 6.10%, owing to the infrastructural advancements, fueled by the strengthening economy in Asia Pacific, specifically in China, Japan, Korea, and India. On the flip side, the plasticizers markets in Europe and North America are anticipated to witness a slowdown in their respective growth rates in the near future. Both the markets are nearing maturity, which is likely to impact them adversely over the forthcoming years, notes the study.

Rising Urbanization to Have Most Prominent Impact on Market’s Growth

“The substantial rise in the construction industry, thanks to the rapid urbanization taking place across the world, is having the most significant effect on the global plasticizers market,” says the author of the study. With the economic growth, the rate of urbanization in emerging economies has rocketed, resulting in the increase in construction activities, infrastructural developments in the medical and the healthcare sector, and a considerable growth in the automotive industry, which, consequently, is augmenting the demand for plasticizers, globally.

Buy Plasticizers Market Research Report: https://www.transparencymarketresearch.com/checkout.php?rep_id=753<ype=S

On the other hand, the rising awareness regarding the harmful effects of plastics on the environment, enforcement of strict government norms limiting the utilization of plasticizers, and the high cost associated with the production of plasticizer may act at a restraint against the growth of this market in the near future. However, the increasing replacement of wood and iron products with plastics, such as doors, windows, floorings, and pipes, will reflect positively this market over the forecast period, states the report.

About us:
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

Contact us:
Transparency Market Research
90 State Street,
Suite 700,
Albany
NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/

This release was published on openPR.