The non-phthalate plasticizers market size is projected to reach USD 3.9 billion by 2025 at a CAGR of 4.6% from 2020. The demand for non-phthalate plasticizers is increasing, owing to the stringent regulations on phthalate plasticizers and the growing awareness about the harmful effects over the use of phthalate plasticizers.
APAC consists of major developing nations, such as China and India, and therefore, the scope for development for most of the industries is high. The region accounted for the largest market share and is projected to be the fastest-growing market for non-phthalate plasticizers. The growth of the market in the region is attributed to the presence of emerging countries and their high economic growth rate, the rise in infrastructure projects, increasing urbanization, and growing standard of living. These developing countries are the driving engines for the non-phthalate plasticizers market in the region.
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The increase in demand for non-phthalate plasticizers and the growing construction industry in the emerging economies, such as APAC and South America, are driving the market. The key players in the non-phthalate plasticizers market include BASF (Germany), Eastman Chemical Company (US), ExxonMobil (US), Evonik Industries (Germany), DIC Corporation (Japan), Perstorp (Sweden), Lanxess AG (Germany), KLJ Group (India), Polynt (Italy), and Mitsubishi Chemical Corporation (Japan). The non-phthalate plasticizers market report analyzes the key growth strategies, such as expansion and new product launch, adopted by the leading market players between 2014 and 2020.
BASF SE (Germany) is among the key players in the non-phthalate plasticizers market. The company adopted the strategies of new product launch and expansion to strengthen its competitiveness in the global non-phthalate plasticizers market. For instance, in May 2014, BASF doubled the capacity production of Hexamoll DINCH to 200,000 metric tons per year at its site in Ludwigshafen, Germany. The company expanded the production capacity by establishing a new Hexamoll DINCH plant. The expansion of production capacity will help the company to meet the growing customer demand for food packaging, medical devices, and toys.
Perstorp (Sweden) is one of the leading manufacturers of non-phthalate plasticizers. The company adopted new product launch as one of its key business strategies. For instance, in September 2019, Perstorp introduced a renewable polyol ester (non-phthalate) plasticizer, Pevalen Pro. It has various properties, such as good plasticizing efficiency, faster processing, low volatility, high UV stability, and long-life performance. It offers a higher level of renewable content and is used for applications, such as coated fabrics, artificial leather, flooring, wall covering, automotive interiors, and sports & leisure products.
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