Non-PVC Plasticizers Market is Poised to Register a CAGR of 3.5% during 2018-2026 | FMI Reports
Worldwide demand for non-PVC plasticizers is witnessing a sheer
proliferation in line with rising end-user inclination for
cost-effective & reliable additives. The non-PVC plasticizers market
is estimated to witness sales growing at a CAGR of over 3.5% through
2026, as per the latest research study by Future Market Insights (FMI).
to the FMI report, non-PVC plasticizers sales remain highly influenced
by a cohort of factors, ranging from burgeoning investments in
healthcare arena to rising demand for advanced solutions across multiple
end-use verticals. Among all product types in the non-PVC plasticizers
market, end-users will shift their preferences for benzoate plasticizers
during the forecast period. This buoyancy can be attributed to ability
of benzoate plasticizers to offer expanded performance utility over any
other product types.
As per the FMI research study, demand for
non-PVC plasticizers will witness exponential growth in manufacturing of
medical products by 2026. Plasticizers will continue to be highly
sought-after in order to attain the appropriate level of flexibility and
softness. Some of the products in the medical products space, including
bags, gloves, and tubing, are likely to register substantial demand for
Non-PVC Plasticizers in the forthcoming years. While the demand of
non-PVC plasticizers for medical products is estimated to witness 1.4X
growth, tubing is likely to create notable incremental $ opportunity by
Similar to cases of all medical devices, medical
equipment with plasticizers is subjected to uncompromising pre- as well
as post-market evaluation processes for ensuring safety &
performance, unveils the FMI report. In response to the aforementioned,
manufacturers in the non-PVC plasticizers market are making their
products undergo rigorous examination, with an objective of boosting
end-user confidence and repeating sales.
As per the FMI analysis,
China is likely to flourish and capture a significant position, both in
value and volume projections, in the global non-PVC plasticizers market
for application market in 2019 and the status quo is unlikely to change
during the assessment period. Rapid growth in the pharmaceutical,
healthcare, and personal care spaces are among the prime factors
favouring growth of non-PVC plasticizers market.
ambiguities over use of plasticizers will continue to dent end-user
confidence, thereby challenging growth of non-PVC plasticizers market.
Phthalates, holding nearly 57% share in the overall non-PVC plasticizers
market, remain one of the widely-used ones across multiple
applications. Though Phthalates offer multiple advantages, they do carry
the risk of various adversities with respect to health and environment.
In line with this, stringent and uncompromising regulations would
restrict the use of non-PVC plasticizers, deterring growth of non-PVC
plasticizers by a certain extent.
According to the FMI analysis,
leading manufacturers operating in global non-PVC plasticizers market
are focusing on commercialization of products that comply with
international certifications and regulations- a key to consolidation in
the global market space. In addition, the key manufacturers are also
vying to expand customer bases across key countries of Asia Pacific, a
region with promising in terms of sales of non-PVC plasticizers. The
participants of the non-PVC plasticizers market also remain involved in
differential business models and strategies, such as strategic mergers
and acquisitions, with an objective of amplifying their reach and
cementing their position across multiple regions.
features some of the leading manufacturing companies operating in
non-PVC plasticizers market, such as Exxon Mobil Corporation, LG Chem
Ltd., BASF SE, Evonik Industries AG, Nan Ya Plastics Corporation,
Eastman Chemical Company, Arkema Group, UPC Group, Hanwha Chemical Co.,
Ltd., Ferro Corporation, and others.
More from FMI’s Chemicals & Materials Market Intelligence:
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