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Global Specialty Plasticizer Market Overview:Specialty Plasticizers are additives that enhance the plasticity and flexibility of materials. Specialty plasticizers are also used to enable excellent electrical properties, as well as, low-temperature resistance into leather, PVC electrical wires & films. The Global Specialty Plasticizers Market is likely to expand at 3% CAGR during the forecast period. The Global Specialty Plasticizers Market is likely to witness a significant rise owing to the growing demand for PVC in numerous industries. PVC industry plays an important role in the growth of the Specialty Plasticizers Market as these Specialty Plasticizer additives, in combination with PVC can have a powerful impact on the construction of flooring, wall coverings, and roofing.
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Furthermore, with the proliferation penetration of urbanization, long-lasting products are expected to witness higher demand from the construction sector for cost maintenance. Increasing residential and commercial projects worldwide are further strengthening the possibility of the same. Also, Specialty Plasticizers provide additional structural benefits when blended with concrete and is highly-prized. PVC, in contrast, has a prominent claim in the Global Plastic Polymer Market with a widely spread scope of applications including pipes, sins, clothing, and healthcare. This has a broader prospect which is then seen channeling a rising demand for Specialty Plasticizers. However, the Specialty Plasticizers Market is anticipated to have a limited operational scope in many developed countries owing to stringent regulatory norms placed by governments.
Key Players:
The Global Specialty Plasticizers Market is impacted by the activities of many significant market players. Some of these players include BASF SE (Germany), Nan Ya Plastics Corporation (Taiwan), Eastman Chemical Company (US), Evonik Industries AG(Germany), UPC Group (Taiwan), Struktol Company of America (US), Shandong Qilu Plasticizers Co. LTD (China), Aekyung Petrochemical Co. LTD (South Korea), ExxonMobil Corporation (US), and Lg Chem LTD. (South Korea).
Industry Update:
October 2018: Perstop announced that it would expand its production capacity of non-phthalate polyester plasticizer called Pevalen in 2019. To accomplish the expansion, Perstop has entered into a long-term production agreement with Alcoplast Srl, an Italian company.
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Market Segmentation:
The Global Specialty Plasticizers Market is studied by Market Research Future (MRFR) for various segments that have been done on the basis of Type, Application, and Region.
On the Basis of Type, the Global Specialty Plasticizers Market has been analyzed for the segments of phthalates, trimellitates, aliphatic dibasic esters, polymeric, and phosphates epoxides.
Based on Application, the Global Specialty Plasticizers Market is segmented into flooring & wall coverings, consumers goods, coated fabric, wire & cable, and film & sheet. The toxic nature of the Specialty Plasticizers is likely to refrain its growth in the consumer goods segments. However, with the burgeoning of the construction sector, the market is estimated to gain back its momentum of growth during the forecast period.
Detailed Regional Analysis:
The Global Specialty Plasticizers Market has been studied for various regional segments such as Europe, Asia Pacific (APAC), North America, and Rest of the World (RoW). Asia Pacific is estimated to garner the largest market share for the Specialty Plasticizers additives owing to the mounting economic growth in numerous countries located in the region. China is anticipated to garner the largest country-specific market in the region, with Japan in the second place. India is also expected to expand at a substantial rate for Specialty Plasticizers and is expected to preserve its dominance over the market during the review period. Simultaneously, Taiwan and South Korea are also expected to grow at a significant rate and hold an impactful share in the country-specific market for Specialty Plasticizers.
North America and Europe are projected to witness some limitations for the use of Specialty Plasticizers owing to the toxic nature of the same. Additionally, both the regions are observed to invest in research and development activities to find an alternative for Specialty Plasticizers which is anticipated to push the market to a great extent.
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