Synopsis of Specialty plasticizer Market
The Global Specialty Plasticizer Market is expected to witness a significant growth of USD ~ 18,594.07 million by 2022 with CAGR of ~3% between 2016 and 2022.
Specialty Plasticizers are basically additives that increase the plasticity or flexibility after adding into the materials. Specialty plasticizers are also used to add features such as low temperature resistance, volatility-resistance and good electrical properties into leather, PVC films and electrical wires. Specialty plasticizers are highly used in some PVC applications such as cables, PVC films, flooring, roofing and wall coverings. Specialty plasticizers are grouped into a number of categories such as phthalates, polymerics, aliphatics, epoxides, phosphates, trimellitates and others. Increasing in PVC demand and expansion of high and non-phthalates is likely to drive the global specialty plasticizers market growth.
Furthermore, In Europe ban by regulatory organizations on the use of some phthalates specialty plasticizers in toys and personal care products for children due to toxic affect which is known as endocrine disruption likely to hamper the global market growth of specialty plasticizers in the forecasted period.
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The Global Specialty Plasticizer Market is majorly segmented on the basis of type, application, and region. Based on type of specialty plasticizer the market is segmented into phthalates, trimellitates, aliphatic dibasic esters, polymeric, phosphates epoxides, and others. Based on application the market segmented into coated fabric, wire & cable, flooring & wall coverings, film & sheet, consumer goods, and others and based on region market is segmented into North America, Europe, APAC, Latin America, Middle East & Africa.
Key players of the Global Specialty Plasticizer Market are UPC Group (Taiwan), Eastman Chemical Company (US), Evonik Industries AG(Germany), BASF SE (Germany), Exxonmobil Corporation (US), Shandong Qilu Plasticizers Co. LTD (China), Nan Ya Plastics Corporation (Taiwan), Aekyung Petrochemical Co. LTD (South Korea), Lg Chem LTD.(South Korea), Struktol Company of America (US) and others.
Asia Pacific is the largest market of Specialty Plasticizer due to demand in various applications such as coated fabric, wire & cable, flooring & wall coverings, film & sheet, consumer goods, and others. China region has the largest specialty plasticizer market share followed by Japan. Increasing demand for applications of Specialty Plasticizer in the India, Taiwan, and South Korea has made Asia Pacific largest consumer of the Global Specialty Plasticizer Market followed by increasing in the consumption of Specialty Plasticizer Market in Europe. The third largest market of specialty plasticizer is North America. Latin America and Middle East also witnessed in growth of Specialty Plasticizer Market due to various application such as wire & cable, wall coverings, coated fabric, and others.
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