The global specialty plasticizer market can expand at 3% CAGR during the forecast period to reach a valuation of USD 18,594.07 million by 2022. Applications in roofings, floorings, cables, and wall coverings can fuel the market demand till the end of the forecast period. Massive demand for PVC and non-phthalates will facilitate its growth. These additives can modify or enhance the properties of plastics according to the end product.
Films and sheets can command a massive demand of plastic additives owing to the packaging industry. Increasing awareness of health and hygiene amid regulations from federal agencies can drive the need for films and sheets. Rising living standards and the growing population can drive the need for PVC materials in construction and automotive sectors. Its long shelf life and demand for lightweight materials in these sectors can drive the demand for these additives.
Competitive Leaderboard:
Lg Chem LTD., Evonik Industries AG, Eastman Chemical Company, Shandong Qilu Plasticizers Co. LTD, UPC Group, Exxonmobil Corporation, Struktol Company of America, Nan Ya Plastics Corporation, BASF SE, Aekyung Petrochemical Co. LTD, and others are key players of the global specialty plasticizer market.
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Market Segmentation:
The global specialty plasticizer market is majorly segmented on the basis of type and application.
By type, it is segmented into polymeric, phthalates, trimellitates, phosphates epoxides, aliphatic dibasic esters, and others.
By application, the market is segmented into consumer goods, coated fabric, wire cable, flooring wall coverings, film sheet, and others.
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Regional Analysis:
Geographically, the market is segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East Africa (MEA).
The APAC region is expected to lead in the global market owing to the flourishing construction industry. This can be attributed to the migration of consumers to urban areas and tremendous demand for consumer goods and construction activities. Infrastructural projects undertaken by governments to modernize the infrastructure for the public and attract tourists will drive the demand for specialty plasticizers. Taiwan and South Korea are major contributors of the region.
Europe follows APAC owing to the presence of major end-use industries. The region is too mature for the market in terms of production and consumption owing to infrastructural development and economic conditions of people.
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