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Some present factors influencing the state of affairs in the business environment have resulted into major trends and shifts within the scope of polymeric plasticizer (s) being used by manufacturers worldwide today. One significant trend is increased significance attributed to eco-friendly or sustainable alternatives for plasticizing agents. In order to reduce carbon footprints, industries have embraced biodegradable substitute products like bio-based polymeric plastics since they are generally environmentally friendly.This transition has come about because green options have become desirable due to stringent regulations and consumers’ tastes.
Likewise advancements in technology today hugely impact what is happening across markets. Technically improved Polymeric Plasticizer’s innovation was facilitated by new production technologies that allowed for the adoption of fresh manufacturing processes and recipes. To develop such kinds of plasticizers, manufacturers have been investing more in R & D because they not only adhere to regulatory requirements but also enhance application efficiency, durability or versatility. This has been driven by a need from broad array industries including automotive, construction and packaging among others.
The market is undergoing a shift in regional dynamics too. There is an increasing demand for polymeric plasticizers as the developing countries undergo rapid industrialization and urbanization. These regions have emerged as growth markets for this industry due to their increased infrastructure development, construction activities and motor vehicle sectors .Moreover, mature markets are now turning their attention towards product customization as well as innovation so as to address specific needs within the sector.
Furthermore, changing regulations require players in this market to respond accordingly. As such producers must look for non-phthalate alternatives since strict government regulations on harmful chemical usage have now been put in place across various industries globally. Thus, there has been growing interest among various sectors about phthalate free versions that meet all performance standards while still conforming to safety guidelines.
Polymeric Plasticizer Market Highlights:
Polymeric Plasticizer Market Overview
According to MRFR Analysis, the polymeric plasticizer market was valued at USD 1.93 million in 2018 and is expected to grow at a CAGR of 4.10% during the forecast period.
Polymeric Plasticizer Market Regional Analysis
The global polymeric plasticizer market has been analyzed with respect to five regions, namely, Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Asia-Pacific dominated the global polymeric plasticizer market with a share of over 40% in 2018 and is expected to follow a similar trend during the forecast period. The building and construction industry was the largest consumer of polymeric adipate plasticizers in Europe in 2018 due to the widespread use of products such as adhesives and sealants, paints and coatings, films and sheets, rubber, wires and cables, and furniture upholstery wherein polymeric plasticizers are used. Thus, increasing building & construction activities (residential and non-residential) in the region is the primary factor that drives the polymeric plasticizers market in the region. Among Asia-Pacific countries, China, and India together accounted for over 60% share for the polymeric plasticizers.
North America was the second largest market for polymeric plasticizer in 2018. The US has substantial automotive production wherein adhesives and sealants, paints and coatings, wires and cables and rubbers are used, which is fueling the growth of the polymeric plasticizer market in the region. Additionally, growing electrical & electronics industry in the US is expected to boost the demand for polymeric plasticizers in the region further.
Europe accounted for the third most significant market share in 2018. The packaging is the primary end-use industry in the European polymeric plasticizers market due to the increasing demand for packaging materials for wrapping applications in the consumer and other industries. Furthermore, the growing E-commerce industry is also contributing to the growth of the packaging industry in the region. Polymeric plasticizers are used in packaging to make it flexible.
The markets in Latin America and the Middle East & Africa is also likely to witness positive growth during the forecast period.
Key Players
Some of the prominent players in the global polymeric plasticizer market are BASF SE (Germany), DowDuPont, Inc. (US), Eastman Chemical Company (US), LANXESS (Germany), and Resymat Mexico (Mexico).
Market Synopsis
Polymeric plasticizers are a class of plasticizers that offer excellent migration, volatility, fluid chemical extraction, and weathering resistance in high-performance applications as compared to monomeric plasticizers. They are polyesters of aliphatic dicarboxylic acids and have a molecular weight of more than 500. They are formed by the reaction between difunctional acids (usually adipic acid, sebacic acid, and others) and ethyl glycol or propylene glycol.One of the factors that drive the global polymeric plasticizers market is, the growing use of these polymeric plasticizers in the wire and cables. The outer coverings of wires and cables are made of polymers such as polyvinyl chloride (PVC), nylon, polyethylene (PE), polypropylene (PP), thermoplastic polyurethane (TPU), and thermoplastic elastomers (TPE) for insulation and jacketing purposes. Polymeric plasticizers increase the flexibility of these polymers, which is essential for covering electrical wires and cables. Another factor that drives the global market is the increasing use of polymeric plasticizers in the adhesives and sealants. Adhesives and sealants are formulated by mixing the base material with fillers, pigments, stabilizers, plasticizers, and other additives. Plasticizers are an essential component of adhesives and sealants. They are used as a solvent to improve the performance of adhesives and sealants by creating the desired elasticity, optimizing viscosity, and offering low-temperature efficiency, impact-resistance, and set-time functionality. The widespread use of adhesives and sealants in end-use industries such as packaging, building and construction, automotive, laminates, footwear, and healthcare is expected to boost the growth of the global polymeric plasticizers market during the forecast period.
However, the stringent regulations on the use of polymeric plasticizers in packaging, toys, and consumer goods are likely to limit the global market growth during the assessment period.
Global Polymeric Plasticizer Market Share, by Application (2018)
Source: MRFR Analysis
Market Segmentation
The global polymeric plasticizer market has been segmented based on applications, end use, and region.
Based on application, the market has been classified as adhesives & sealants, paints & coating, films & sheets, rubber, wires & cables, furniture upholstery, and others.
On the basis of end-use industry, the market has been divided into packaging, building & construction, automotive, electrical & electronics, and others.
Intended Audience
- Polymeric plasticizer manufacturers
- Traders and distributors of polymeric plasticizer
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories
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