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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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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