The Non-phthalate Plasticizers Market is expected to grow at > 4.6% during 2021-2026, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Non-phthalate Plasticizers Market
Non-phthalate Plasticizers Market is likely to witness an impressive CAGR of 4.6% during the forecast period. The prime factor that is contributing to the demand for non-phthalate plasticizers is mainly the increasing usage of composite fabrics in various industrial applications, such as automotive and wires & cables.
Asia-Pacific is estimated to be the largest as well as the fastest-growing market for non-phthalate plasticizers during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as flooring & wall coverings, wires & cables, films & sheets, coated fabrics, consumer goods, and others, which is generating huge demand for non-phthalate plasticizers and the presence of a large number of non-phthalate plasticizer manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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Market Scope & Market Segmentation
Non-phthalate Plasticizers Market Share: By Type
Based on the type, the market is segmented as adipates, trimellitates, benzoates, epoxies, and others. The adipates segment held the largest share of the market in 2020, and is expected to remain dominant during the forecast period, whereas trimellitates is the fastest-growing non-phthalate plasticizers type owing to its high-temperature performance properties. Owing to adipates light-color, oily liquid it is used to plasticize PVC which is driving the growth of this segment.
Non-phthalate Plasticizers Market Share: By Application Type
Based on the application type, the non-phthalate plasticizers market is segmented as flooring & wall coverings, wires & cables, films & sheets, coated fabrics, consumer goods, and others. The flooring & wall coverings industry segment dominates the market. Further, readily soluble in polyvinyl chloride, lower density when compared to other plasticizers are the other properties propelling the growth of non-phthalate plasticizers during the forecast period.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
- What is the impact of COVID-19 on the market forecast?
- What are the trends, drivers, and challenges?
- How competitive is the market? Who are the market leaders?
- What are the key strategies adopted by the market players?
- Which segments offer the greatest opportunities?
- Which are the most attractive regions?
- What are the key success factors for the market players?
- How does the business environment impact the market?
- Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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Stratview Research is a global market research company and is known to offer custom research reports in varied fields such as Advanced Materials, Aerospace & Defense, Automotive & Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. Our market veterans make sure to have a deep research about the topics so that the most useful and authentic insights can be delivered to the professionals.