Global Plasticisers Market Overview :
In the worldwide plastic market, plasticisers are the most often used additives. By the end of 2014, the global plasticiser market had surpassed 8 million metric tonnes. Plastics and polyvinyl chloride are the most common applications for plasticisers (PVC). Various regulatory bodies are working to promote environmentally friendly products, which has resulted in an increase in demand for bio-plasticizers in developed nations.
Phthalate-based plasticizers were prevalent, accounting for more than 75% of the worldwide plasticisers market. However, strict government laws and rising consumer health concerns boosted demand for bio-plasticisers, which is now a major industry trend.
Global Plasticisers Market Region wise Overview :
North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, Middle East, and Africa are the regions that make up the worldwide plasticisers market (MEA). Due to rising applications in flourishing industries like as healthcare, chemicals, and packaging, North America held the highest share of the global market by the end of 2015.
Due to consistent growth in the industrial and healthcare industries, Europe as a whole is a well-established market. Around 1 million tonnes of phthalates are manufactured annually in Western European countries, with about 0.9 million tonnes of phthalates used to plasticize PVC. Western Europe, APEJ, and North America are expected to account for more than 75% of the worldwide plasticiser market.
Segmentation Analysis :
Due to the toxicological features of certain phthalate plasticizers, the non-phthalates category, under the product section, will increase at a quicker rate from 2019 to 2024. Due to rising health concerns in these countries, several industrialised countries have banned key phthalate plasticizers, mainly in products used by children under the age of three.
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In terms of volume and value, the wires and cables category in the end use segment had the highest share in 2018. Furthermore, due to the widespread usage of wires and cables in the automotive, construction, and electrical and electronics industries, the category will show a promising growth rate in the near future. PVC is used in vast quantities in the manufacture of wires and cables to provide protection and insulation.
Key Players :
the key players in the global plasticizers market include BASF SE, Evonik Industries AG, Exxon Mobil Corporation, Eastman Chemical Company, Nan Ya Plastics Corporation, Mitsubishi Chemical Corporation, LG Chem Ltd., KLJ Group, Arkema SA, and Lanxess AG.
Competitive Landscape :
The plasticizers industry is highly fragmented, with only one major competitor, UPC Technology Corporation, accounting for a considerable part of the market in 2018. UPC Technology Corporation, founded in Taiwan, has a significant global presence because to its diverse product portfolio and well-established supply network. It sells basic plasticizers such DOP, DNOP, DINP, DIDP, DPHP, DBP, DBIP, DOTP, TOTM, TNTOM, and DOA as well as speciality plasticizers throughout Taiwan, China, Southeast Asia, Northeast Asia, South Asia, the United States, Canada, the Middle East, and New Zealand. Several other firms, like UPC Technology Corporation, have begun to use strategic methods such as mergers and acquisitions, facility expansions, and product launches to enhance their market share.
Regional Outlook :
In terms of both value and volume, the APAC region accounted for over 60.0 percent of the global plasticizers market in 2018. This can be attributed to India, Indonesia, China, and several other Southeast Asian countries expanding their manufacturing, healthcare, infrastructure and construction, chemical, and other end-use industries. All of these industries require plasticizers in flexible PVC, which is then utilised to make end-of-life products. As a result, the rising use of PVC in these industries will drive plasticizer demand in the coming years.
