Non-Phthalate Plasticizer Market to Grow with a CAGR of 4.27% through 2028
Restrictions on the usage of conventional phthalate based plasticizers are
expected to drive the Global Non-Phthalate Plasticizer Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “Non-Phthalate
Plasticizer Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Non-Phthalate Plasticizer
Market stood at USD 3.32 billion in 2022 and is anticipated to grow with a CAGR
of 4.27% in the forecast period, 2023-2028. The initiatives taken by government
based on non-phthalate plasticizer has led to favorable market conditions for
the Global Non-Phthalate Plasticizer Market. Several factors contribute to the
growth of various non-phthalate plasticizer products. Traditional phthalates,
commonly used as plasticizers in various products, have been associated with
potential health risks. These chemical compounds have the ability to leach out
of products, thereby exposing consumers to potential health hazards. Moreover,
the production and disposal of phthalates contribute to environmental
pollution, making it imperative to find alternatives. These concerns
have prompted governments worldwide to take regulatory action in order to
minimize the usage of phthalates. These government initiatives aim to encourage
the adoption of non-phthalate alternatives that are safer for consumers and
less harmful to the environment. In response to
these regulatory measures, manufacturers are required to provide alternative
non-toxic and PVC-free products. This has led to a significant growth in the
non-phthalate plasticizer market as manufacturers strive to comply with
regulations and meet the increasing demand for safer and more environmentally
friendly products. Furthermore, government initiatives have extended to sectors
such as construction, where the focus on efficient and sustainable
infrastructure has driven a shift towards non-phthalate plasticizers. For
example, in Spain, substantial investments in construction projects have
contributed to the expansion of the market for non-phthalate plasticizers. Overall,
these regulatory actions and market trends reflect a growing recognition of the
importance of reducing the usage of phthalates and embracing non-phthalate
alternatives for the benefit of human health and the environment.
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market data Figures spread through XX Pages and an in-depth TOC on "Global
Non-Phthalate Plasticizer Market”
The stringent
regulations imposed by the government on the usage of phthalate plasticizers
have sparked a significant shift in the Non-Phthalate Plasticizers industry.
This shift is primarily driven by the increasing awareness of the toxic and
carcinogenic nature of conventional phthalate-based plasticizers such as DBP
and DEHP. In fact, any phthalate plasticizer exceeding the 0.1% limit is now
considered a criminal offense. Moreover, to ensure the safety of consumers, the
Consumer Product Safety Commission has implemented a ban on the use of 8
ortho-phthalate plasticizers in baby products, toys, personal care items, and
more.
These stringent
restrictions on the application of phthalate plasticizers have led to a surge
in demand for phthalate-free alternatives such as bio-based plasticizers and
benzoates, aliphatic acid esters, citrates, adipates, and others. Industries
ranging from consumer goods, construction, electronics, automotive, to food,
are increasingly adopting Non-Phthalate Plasticizers as a safer and more
sustainable replacement for traditional phthalate plasticizers. As a result,
the market for Non-Phthalate Plasticizers is experiencing significant growth,
offering substantial opportunities for further expansion and development. The Global
Non-Phthalate Plasticizer Market is segmented into type, application, regional
distribution, and company. Based on its type, the adipates segment held the
largest share in the market. The factors that can be attributed to the properties
offered by this product include its exceptional high-temperature performance
properties, which enable it to withstand extreme heat conditions and maintain
optimal functionality. These remarkable properties make it a reliable and
efficient choice for various applications where heat resistance is crucial. Based on region, Asia Pacific segment is expected to
grow during the forecast period.
The Non-Phthalate Plasticizers Market is experiencing
robust growth, primarily fueled by the significant expansion in the
construction industry. Additionally, the market is positively influenced by the
remarkable impact of other end-use industries across the region. These factors,
combined, are expected to propel the market's growth over the forecasted
period, creating lucrative opportunities for industry players.
Major companies operating in Global Non-Phthalate
Plasticizer Market are:
- Eastman Chemical Company
- BASF SE
- Exxonmobil Corporation
- LG Chem Ltd.
- UPC Technology Corporation
- Aekyung Petrochemical Co. Ltd.
- DIC Corporation
- Evonik Industries AG
- Nan Ya Plastics Corporation
- OXEA Corporation
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“Growing application of non-phthalate plasticizer in
various end user industries are key drivers of the non-phthalate plasticizer market.
Growth in competitive landscape and presence of well-established companies in
the market who are dedicated to enhance their productivity of non-phthalate
plasticizer with every passing year are anticipated to register an impressive
growth to Global Non-Phthalate Plasticizer Market in the forecast period.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Non-Phthalate Plasticizer Market By Type (Adipates,
Trimellitates, Epoxies, Benzoates, Others), By Application (Flooring & Wall
Covering, Wire & Cable, Coated Fabric, Consumer Goods, Film & Sheet,
Others), By Region, By
Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Non-Phthalate Plasticizer Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Non-Phthalate Plasticizer Market.
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