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Non-Phthalate Plasticizers Market size is estimated to reach US$4.4 billion by 2027 after growing at a CAGR of 5.1% during the forecast period 2022-2027.

HYDERABAD, TELANGANA, INDIA, January 23, 2023 /EINPresswire.com/ -- The Non-Phthalate Plasticizers Market size is estimated to reach US$4.4 billion by 2027 after growing at a CAGR of 5.1% during the forecast period 2022-2027. The non-phthalates are plasticizers that are free of phthalates and are derived from benzoic and adipic acid. Various non-phthalate plasticizer types such as benzoates, aliphatic acid esters, citrates, trimellitates, and others are used as a replacement for phthalate plasticizers, owing to their benefits such as durability, flexibility, and environmental friendliness. The rising application of phthalate-free plasticizers in construction, automotive, food & beverage, and others due to their non-toxicity and effectiveness is driving the Non-Phthalate Plasticizers Market. Furthermore, the regulatory policies and restrictions on the usage of phthalate plasticizers are boosting the demand for phthalate-free plasticizers, thereby offering major market opportunities for the Non-Phthalate Plasticizers industry. The pandemic disrupted the demand and growth prospects in the market due to a fall in the application for Non-Phthalate Plasticizers, as a result of disturbance and closure in major end-use industries. However, with the robust recovery and flourishing growth across major industries such as construction, automotive, and others, the Non-Phthalate Plasticizers Market is anticipated to rise during the forecast period.

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Key takeaways:

This IndustryARC report on the Non-Phthalate Plasticizers market highlights the following areas -

1. Asia-Pacific dominates the Non-Phthalate Plasticizers Market, owing to its flourishing building and construction base, rising automotive production, established demand from the food and beverage packaging sector, and others, thereby boosting its growth in the APAC region.

2. The building and construction industry is rapidly growing in the Non-Phthalate Plasticizers industry due to major applications of lubricants such as metalworking fluids, hydraulic fluids, engine oil, greases, and others for vehicles, machinery, and others, along with flourishing production of vehicles, thereby offering growth in the market.

3. The restrictions on the usage of phthalate plasticizers are driving the Non-Phthalate Plasticizers industry due to the high demand for phthalate-free or biobased plasticizers as these plasticizers offer durability, and zero toxicity, compared to toxic phthalate based plasticizers.

4. However, the high costs associated with the Non-Phthalate Plasticizers due to the rise in raw material costs create a major impact on the demand and applications of these plasticizers; thereby creating a major challenge in the market.

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Segmental Analysis:

1. Non-Phthalate Plasticizers Market Segment Analysis – By Type : The adipates segment held the largest share in the Non-Phthalate Plasticizers Market in 2021 and is forecasted to grow at a CAGR of 4.9% during the forecast period 2022-2027. The advantageous properties of adipates such as UV light resistance, preferability for food contact, and strong low-temperature performance over other phthalate-free plasticizers are boosting their demand across major industries. The growing demand for phthalate-free adipates plasticizers in the construction industry is boosting the growth in the market.

2. Non-Phthalate Plasticizers Market Segment Analysis – By End-Use Industry : The building & construction segment held a significant share in the Non-Phthalate Plasticizers Market in 2021 and is forecasted to grow at a CAGR of 5.8% during the forecast period 2022-2027. The Non-Phthalate Plasticizers such as aliphatic acid esters, benzoates, trimellitates, and others have growing applications in the construction sector for wall covering, flooring, and others. The building and construction sector is growing due to the flourishing demand for modular construction units, government initiatives on affordable housing, and urbanization.

3. Non-Phthalate Plasticizers Market Segment Analysis – By Geography : Asia-Pacific region held the largest share in the Non-Phthalate Plasticizers Market in 2021 up to 43%. The robust growth of Non-Phthalate Plasticizers in this region is influenced by the flourishing base and demand for phthalate-free plasticizers for application in construction, automotive, and other end-use sectors. The construction industry is growing rapidly in APAC owing to government initiatives for housing, commercial building, and infrastructural development.

Competitive landscape:

The top 5 players in the Non-Phthalate Plasticizers industry are:

1. Lanxess AG
2. LG Chem
3. Myriant Corporation
4. Evonik Industries
5. Exxon Mobil Corporation Ltd

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Related Reports:

A. Plasticizers Market
https://www.industryarc.com/Report/11717/plasticizers-market-analysis.htmlhttps:/www.industryarc.com/Report/11717/plasticizers-market-analysis.html

B. Bio Plasticizers Market
https://www.industryarc.com/Research/Bio-Plasticizers-Market-Research-501555

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