The global plasticizers market was valued at $15,179 million in 2015, and is expected to reach $18,538 million by 2022, registering a CAGR of 2.9% from 2016 to 2022.
Portland, OR -- (SBWIRE) -- 06/12/2018 -- The global plasticizers market was valued at $15,179 million in 2015, and is expected to reach $18,538 million by 2022, registering a CAGR of 2.9% from 2016 to 2022. Plasticizers are additives incorporated in a material to increase its flexibility, workability, tear resistance, and durability. These compounds lower the second-order transition temperature of micro-molecules, elastic modulus, tensile strength, density, and hardness & melt viscosity of the material, thereby making it soft and resilient. Plasticizers also reduce polymer?polymer chain secondary bonding by spreading them apart, increasing the free volume, which enhances flexibility, elongation at break, toughness, power factor, and dielectric constant. An effective plasticizer must contain two types of structural components: polar and non-polar. The polar component must be able to bind reversibly with the polymer, thereby softening it, while the non-polar part controls the polymer interaction to maintain its crystallinity.
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Change in lifestyle and increased disposable income of consumers in Asia-Pacific, Middle East, and Latin America have led to increase in growth of consumer electronics & medical industries, leading to high market potential for plasticizers. Growth in population and urbanization in emerging economies, such as India and China, have boosted the construction activities and automobile production, thus driving the market growth. However, strict regulations, fluctuations in cost, and availability of raw materials that serve as plasticizer feedstock may cause a significant reduction in the plasticizer market revenue, thus hampering this growth.
The report segments the global plasticizers market based on type, application, and geography. By type, the market is divided into phthalates, terephthalates, trimellitates, epoxides, phosphates, sebacates, extenders, aliphatic dibasic esters, and others. Phthalates is the dominant product segment, owing to their high-performance properties such as strong solvent, low transition temperature, low volatility, low diffusion, stability, and flame retardance. By application, the market is categorized into flooring & wall, film & sheet coverings, wires & cables, coated fabrics, consumer goods, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2015, Asia-Pacific accounted for the largest share, owing to emergence of China as the key contributor in consumption of plasticizers, and it is expected to maintain its dominance during the forecast period.
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Major players profiled in this study are as follows:
Arkema S.A.
BASF SE
Daelim Industrial Co. Ltd.
Dow Chemical Company
LG Chem Ltd.
Evonik Industries AG
ExxonMobil Chemical
Eastman Chemical Company
Ineos Group
UPC Group