In the dynamic non-PVC plasticizers market, several factors significantly shape sales trends, including robust investments in the healthcare sector and the increasing demand for innovative solutions across various industries. During the forecast period, end-users are expected to increasingly favor benzoate plasticizers, primarily due to their superior performance characteristics compared to other product types, as highlighted in the FMI report.
The global market for non-PVC plasticizers is skyrocketing, owing to increased end-user need for cost-effective and dependable additives. According to the most recent research analysis by Future Market Insights (FMI), the non-PVC plasticizers market is expected to develop at a CAGR of more than 3.5% through 2026. According to an FMI research study, demand for non-PVC plasticizers in medical product manufacture will expand at an exponential rate by 2026. Plasticizers will continue to be in great demand in order to achieve the desired level of flexibility and softness. Some medical product categories, such as bags, gloves, and tubing, are expected to have high demand for Non-PVC Plasticizers in the coming years. While the need for non-PVC plasticizers in medical products is increasing, Tubing is expected to rise at 1.4X by the end of 2026, creating a significant incremental $ potential.
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Similar to cases of all medical devices, medical equipment with plasticizers is subjected to uncompromising pre- as well as post-market evaluation processes for ensuring safety & performance, unveils the FMI report. In response to the aforementioned, manufacturers in the non-PVC plasticizers market are making their products undergo rigorous examination, with an objective of boosting end-user confidence and repeating sales.
As per the FMI analysis, China is likely to flourish and capture a significant position, both in value and volume projections, in the global non-PVC plasticizers market for application market in 2019 and the status quo is unlikely to change during the assessment period. Rapid growth in the pharmaceutical, healthcare, and personal care spaces are among the prime factors favouring growth of non-PVC plasticizers market.
However, ambiguities over use of plasticizers will continue to dent end-user confidence, thereby challenging growth of non-PVC plasticizers market. Phthalates, holding nearly 57% share in the overall non-PVC plasticizers market, remain one of the widely-used ones across multiple applications. Though Phthalates offer multiple advantages, they do carry the risk of various adversities with respect to health and environment. In line with this, stringent and uncompromising regulations would restrict the use of non-PVC plasticizers, deterring growth of non-PVC plasticizers by a certain extent.
According to the FMI analysis, leading manufacturers operating in global non-PVC plasticizers market are focusing on commercialization of products that comply with international certifications and regulations- a key to consolidation in the global market space. In addition, the key manufacturers are also vying to expand customer bases across key countries of Asia Pacific, a region with promising in terms of sales of non-PVC plasticizers. The participants of the non-PVC plasticizers market also remain involved in differential business models and strategies, such as strategic mergers and acquisitions, with an objective of amplifying their reach and cementing their position across multiple regions.
The report features some of the leading manufacturing companies operating in non-PVC plasticizers market, such as Exxon Mobil Corporation, LG Chem Ltd., BASF SE, Evonik Industries AG, Nan Ya Plastics Corporation, Eastman Chemical Company, Arkema Group, UPC Group, Hanwha Chemical Co., Ltd., Ferro Corporation, and others.
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Key Segments
By Product type
- Phthalates
- Trimellitates
- Tetrapthaletes
- Aliphatic
- Cyclohexanoates
- Benzoates
By Application
- Paints & Coating
- Rubber Products
- Adhesive & Sealant
- Personal Care Product
- Medical Products
- Household Products
By Region
- North America
- Latin America
- China
- Japan
- Europe
- MEA
- SEA and Other APAC
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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