The expansion of the construction industry and advancements of Europe Non-Phthalate plasticizers with enhanced characteristics have resulted in boosting the Europe Non-Phthalate Plasticizers market.
Europe Non-Phthalate Plasticizers Market Size – USD 3.32 Billion in 2018, Growth - CAGR of 6.5%, Trends – The rising demand of Europe Non-Phthalate Plasticizers from the automotive sector
The Global Europe Non-Phthalate Plasticizers Market is forecast to reach USD 5.97 Billion by 2027, according to a new report by Reports and Data. There has been an elevating awareness about the safety and environmental concerns associated with the use of traditional plasticizers. It has resulted in paving the path for the expansion of Europe Non-Phthalate plasticizer market. These plasticizers have wide product ranges which can effectively cater to the diverse needs of various end-applications that is also contributing to the growth of the market. It is effective in fast-fusing or general-purpose plasticizers. One of its major application is in food packaging, containers/utensils polyester. The underlying reason being, its traits like oil resistance and excellent, non-volatility. These plasticizers also allow manufacturing high-performance products with minimal or no reformulation, protecting the manufacturers from long duration of approval, development, and transition time.
Reports and Data's Global Europe Non-Phthalate Plasticizers Market research report is an in-depth investigation that provides an industry-wide overview of existing and emerging growth patterns, end-user analysis, and other key data that has been tested and validated by industry experts and professionals. The report examines the market in terms of importance, share, size, demand and supply, patterns, competitive landscape, industrial chain analysis, and other important factors. The report also provides a detailed outlook for the industry's driving and restraining forces, as well as micro and macroeconomic factors that are expected to influence its development.
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Key Companies: lg chem ltd, basf se, lanxess, eastman chemical company, nan ya plastics corporation, grupa azoty, evonik industries ag, dic corporation, valtris specialty chemicals, velsicol chemical llc and perstorp.
The Europe Non-Phthalate Plasticizers market investigation report assesses the global market for the Europe Non-Phthalate Plasticizers industry and provides revenue and capability forecasts for the projected period. The factors that drive the industry's growth are highlighted in the report. The report divides the Europe Non-Phthalate Plasticizers market into main categories such as forms, applications, end-users, technology, and others for a better understanding. These segments are thoroughly examined in order to provide a more accurate outlook for the global and regional markets. The report also examines the industry's major players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and market size, geographic presence, and development and manufacturing capabilities.
Further key findings from the report suggest:
- The Europe Non-Phthalate Plasticizers market held a market share of USD 3.32 Billion in the year 2018 that is forecasted to grow at a rate of 6.5% during the forecast period.
- In context to Type, the Trimellitates segment is projected to witness the fastest growth rate of 7.3% during the forecast period, which is expected to hold, 17.3% of the market by 2027. The growth rate witnessed by the Trimellitates segment is attributed to its low volatility, ease of blending with highest-molecular-weight phthalates, high performance, and enhanced chemical properties as compared to other plasticizers. The mentioned traits have resulted in its extensive application in electrical cable insulation, food packaging, and construction materials, among others, contributing to the growth rate witnessed by this segment.
- In context to Application, the Flooring Wall Coverings segment held the largest market share of more than 30.0% in 2018, with a significant growth rate of 6.5% during the forecast period. The high durability of these plasticizers and its ease of maintenance have resulted in its wide application in flooring wall coverings of residential as well as commercial constructions wherein it can survive foot traffic in commercial buildings like in shopping malls.
- In regards to End-user, the Automotive segment is projected to witness the fastest growth rate of 7.2% during the forecast period, which is expected to hold 19.2% of the market by 2027. The market share held by the Automotive segment is attributed to the continuous expansion of the industry, increasing demand for light weight vehicles and applicability of these plasticizers in seat upholstery, seat belt, and airbags, contributing to the growth rate witnessed by this segment.
- In regards to the region, North America held 26.0% of the market in 2018, with a CAGR of 6.1% during the forecast period. The market share held by the region is attributed to the stringent government regulations associated with the use of traditional phthalate plasticizers and high demand for PVC products in commercial and residential applications, which is boosting the market growth in this region.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Europe Non-Phthalate Plasticizers market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Europe Non-Phthalate Plasticizers market.
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Building and construction
- Food beverage
- Sports and leisure
- Consumer goods
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Wire Cable
- Flooring Wall Coverings
- Consumer Goods
- Film Sheet
- Coated Fabric
- Adhesives, sealants and caulks
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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